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Laxmi Organic IPO is a book built issue of Rs 600.00 crores. The issue is a combination of fresh issue of Rs 300.00 crores and offer for sale of Rs 300.00 crores.
Laxmi Organic IPO bidding started from March 15, 2021 and ended on March 17, 2021. The allotment for Laxmi Organic IPO was finalized on Monday, March 22, 2021. The shares got listed on BSE, NSE on March 25, 2021.
Laxmi Organic IPO price band is set at ₹129 to ₹130 per share. The minimum lot size for an application is 115 Shares. The minimum amount of investment required by retail investors is ₹14,950.
Axis Capital Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) are the book running lead managers of the Laxmi Organic IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Laxmi Organic IPO RHP for detailed information.
| IPO Date | March 15, 2021 to March 17, 2021 |
| Listing Date | March 25, 2021 |
| Face Value | ₹2 per share |
| Price Band | ₹129 to ₹130 per share |
| Lot Size | 115 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹600.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | [.] shares of ₹2 (aggregating up to ₹300.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 240,585,850 |
| Share holding post issue | 263,662,773 |
Laxmi Organic IPO offers 32,558,138 shares. 9,302,324 (28.57%) to QIB, 6,976,744 (21.43%) to NII, 16,279,070 (50.00%) to RII. 141,557 RIIs will receive minimum 115 shares and (sNII) and (bNII) will receive minimum 1,610 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 9,302,324 (28.57%) | NA |
| NII (HNI) Shares Offered | 6,976,744 (21.43%) | |
| Retail Shares Offered | 16,279,070 (50.00%) | 141,557 |
| Total Shares Offered | 32,558,138 (100%) |
Laxmi Organic IPO opens on March 15, 2021, and closes on March 17, 2021.
| IPO Open Date | Monday, March 15, 2021 |
| IPO Close Date | Wednesday, March 17, 2021 |
| Basis of Allotment | Monday, March 22, 2021 |
| Initiation of Refunds | Tuesday, March 23, 2021 |
| Credit of Shares to Demat | Wednesday, March 24, 2021 |
| Listing Date | Thursday, March 25, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 17, 2021 |
Investors can bid for a minimum of 115 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 115 | ₹14,950 |
| Retail (Max) | 13 | 1495 | ₹194,350 |
| Lot Size Calculator | |||
Yellow Stone Trust and Ravi Goenka are the company promoters.
| Share Holding Pre Issue | 89.51% |
| Share Holding Post Issue | 72.92% |
Incorporated in 1989, Laxmi Organic Industries Ltd is a specialty chemical manufacturer that operates in 2 business segments; Acetyl Intermediates (AI) and Specialty Intermediates (SI). It is the leading manufacturer of ethyl acetate with over 30% market share in the Indian ethyl acetate market and the only manufacturer of diketene derivatives in India.
Its AI segment includes ethyl acetate, acetaldehyde, fuel-grade ethanol, and other proprietary solvents whereas the SI segment includes ketene, diketene derivatives namely esters, acetic anhydride, arylides, amides, and other chemicals. Its products are being used in various industries like pharmaceuticals, agrochemicals, inks & coatings, dyes & pigments, paints, printing & packaging, etc. Alembic Pharmaceuticals Limited, Laurus Labs Limited, Granules India Limited, Hetero Labs Limited, Heubach Colour Private Limited, Hubergroup India Private Limited, Huhtamaki India Limited, Macleods Pharmaceuticals Private Limited, Suven Pharmaceuticals Limited, Colourtex Industries Private Limited, and UPL Limited are some of its customers.
The company has a global footprint with customers in 30 countries including but not restricted to China, Russia, Singapore, UAE, UK, USA, Netherland, etc. Currently, it has 2 manufacturing facilities in Mahad, Maharashtra for the manufacturing of AI and SI products. It is also proposing to set-up a new manufacturing facility at Lote Parshuram, Maharashtra to manufacture four specialty chemicals.
Competitive Strengths
| Particulars | For the year/period ended (₹ in millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 10,371.32 | 10,706.33 | 10,144.88 | 8,947.34 | |
| Total Revenue | 8,143.55 | 15,386.21 | 15,743.23 | 13,960.75 | |
| Profit After Tax | 454.84 | 702.12 | 723.91 | 756.95 | |
[Dilip Davda] Based on the company’s financial data, the issue appears averagely priced compared to industry composite and listed peers. However, considering its long-standing relations with marquee global customers and plans to shift for high margin speciality chemicals business, it has bright prospects going forward. Investors looking for a long term bet may invest in this IPO. Read detail review...
The Laxmi Organic IPO is subscribed 106.81 times on March 17, 2021 6:49:00 AM. The public issue subscribed 20.10 times in the retail category, 175.43 times in the QIB category, and 217.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 175.43 |
| NII | 217.62 |
| Retail | 20.10 |
| Total | 106.81 |
| Listing Date | March 25, 2021 |
| BSE Script Code | 543277 |
| NSE Symbol | LXCHEM |
| ISIN | INE576O01020 |
| Final Issue Price | ₹130 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹130.00 |
| ₹156.20 |
| ₹143.00 |
| ₹174.50 |
| ₹164.60 |
| NSE |
|---|
| ₹130.00 |
| ₹155.50 |
| ₹143.25 |
| ₹174.60 |
| ₹164.45 |
Laxmi Organic Industries Limited
A-22/2/3, MIDC,
Mahad, Raigad– 402 309
Phone: +91-2145-232424
Email: investors@laxmi.com
Website: http://www.laxmi.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: laxmiorganic.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Laxmi Organic IPO is a main-board IPO of [.] equity shares of the face value of ₹2 aggregating up to ₹600.00 Crores. The issue is priced at ₹129 to ₹130 per share. The minimum order quantity is 115 Shares.
The IPO opens on March 15, 2021, and closes on March 17, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Laxmi Organic IPO using UPI as a payment gateway. Zerodha customers can apply in Laxmi Organic IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Laxmi Organic IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Laxmi Organic IPO opens on March 15, 2021 and closes on March 17, 2021.
Laxmi Organic IPO lot size is 115 Shares, and the minimum amount required is ₹14,950.
You can apply in Laxmi Organic IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Laxmi Organic IPO will be done on Monday, March 22, 2021, and the allotted shares will be credited to your demat account by Wednesday, March 24, 2021. Check the Laxmi Organic IPO allotment status.
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