Investors can check share allocation on the BSE website. One has to select 'equity' in issue type and issue name 'Laxmi Organic Industries Limited' in a dropdown list, enter 'application number' and 'PAN ', and finally click on 'search'.

The allotment status can also be monitored on the registrar's website. The registrar provided just two steps to know the allotment.The investor has to select the company name—Laxmi Organic Industries Limited—IPO, enter either PAN, application number or DP Client ID, and click on 'search' button.


 

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

·                     Leading manufacturer of ethyl acetate in India.

·                     Largest manufacturer of diketene derivative products.

·                     Diversified customer base across industries.

·                     Strategically located manufacturing facilities.

·                     Consistent financial performance.

Company Promoters:

Yellow Stone Trust and Ravi Goenka are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)

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

Objects of the Issue:

  • Investment in subsidiary firm, Yellowstone Fine Chemicals Private Limited (YFCPL) to partly finance the capex to establish a new manufacturing facility.
  • To invest in YFCPL for financing working capital requirements.
  • To finance the capex for expansion of SI manufacturing facility.
  • To finance business working capital requirements.
  • To purchase plant and machinery for infrastructure development at SI facility.
  • To make prepayment or repayment of borrowings availed by the company and subsidiary, Viva Lifesciences Pvt Ltd (VLPL).
  • To meet general corporate purposes.

Laxmi Organic IPO Details

IPO Opening Date

Mar 15, 2021

IPO Closing Date

Mar 17, 2021

Issue Type

Book Built Issue IPO

Face Value

₹2 per equity share

IPO Price

₹129 to ₹130 per equity share

Market Lot

115 Shares

Min Order Quantity

115 Shares

Listing At

BSE, NSE

Issue Size

[.] Eq Shares of ₹2
(aggregating up to ₹600.00 Cr)

Fresh Issue

[.] Eq Shares of ₹2
(aggregating up to ₹300.00 Cr)

Offer for Sale

[.] Eq Shares of ₹2
(aggregating up to ₹300.00 Cr)

Laxmi Organic IPO Tentative Timetable

The Laxmi Organic IPO open date is Mar 15, 2021, and the close date is Mar 17, 2021. The issue may list on Mar 25, 2021.

IPO Open Date

Mar 15, 2021

IPO Close Date

Mar 17, 2021

Basis of Allotment Date

Mar 22, 2021

Initiation of Refunds

Mar 23, 2021

Credit of Shares to Demat Account

Mar 24, 2021

IPO Listing Date

Mar 25, 2021

Laxmi Organic IPO Lot Size

The Laxmi Organic IPO market lot size is 115 shares. A retail-individual investor can apply for up to 13 lots (1495 shares or ₹194,350).

Application

Lots

Shares

Amount (Cut-off)

Minimum

1

115

₹14,950

Maximum

13

1495

₹194,350

Laxmi Organic IPO Promoter Holding

Pre Issue Share Holding

89.51%

Post Issue Share Holding

72.92%

Laxmi Organic IPO Subscription Status (Bidding Detail)

The Laxmi Organic IPO is subscribed 106.81x times on Mar 17, 2021 06:49. The public issue subscribed 20.10x in the retail category, 175.43x in the QIB category, and 217.62x in the NII category. Check Day by Day Subscription Details (Live Status)

Category

IPO Subscription

QIB ?

175.43x

NII ?

217.62x

RII ?

20.10x

Total ?

106.81x