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Laxmi Organic Industries IPO is a book build issue of ₹600.00 crores. The issue is a combination of fresh issue of 2.31 crore shares aggregating to ₹300.00 crores and offer for sale of 2.31 crore shares aggregating to ₹300.00 crores.
Laxmi Organic Industries IPO bidding started from Mar 15, 2021 and ended on Mar 17, 2021. The allotment for Laxmi Organic Industries IPO was finalized on Mar 22, 2021. The shares got listed on BSE, NSE on Mar 25, 2021.
Laxmi Organic Industries IPO price band is set at ₹130.00 per share . The lot size for an application is 115. The minimum amount of investment required by an retail is ₹14,835 (115 shares). The lot size investment for sNII is 14 lots (1,610 shares), amounting to ₹2,09,300, and for bNII, it is 67 lots (7,705 shares), amounting to ₹10,01,650.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Laxmi Organic Industries IPO RHP for detailed Information.
| IPO Date | March 15, 2021 to March 17, 2021 |
| Listing Date | March 25, 2021 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹129 to ₹130 per share |
| Issue Price Final | ₹130 per share |
| Lot Size | 115 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 4,61,53,846 shares (aggregating up to ₹600.00 Cr) |
| Fresh Issue | 2,30,76,923 shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 2,30,76,923 shares of ₹2 (aggregating up to ₹300.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 24,05,85,850 shares |
| Share Holding Post Issue | 26,36,62,773 shares |
Laxmi Organic IPO offers total 4,61,53,846 shares. Out of which 2,30,76,922 (50.00%) allocated to QIB, 92,30,769 (20.00%) allocated to QIB, 69,23,077 (15.00%) allocated to NII, 1,61,53,847 (35.00%) allocated to RII and 1,38,46,153 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,30,76,922 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,38,46,153 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 92,30,769 (20.00%) | NA |
| NII (HNI) Shares Offered | 69,23,077 (15.00%) | NA |
| Retail Shares Offered | 1,61,53,847 (35.00%) | 1,40,468 |
| Total Shares Offered | 4,61,53,846 (100.00%) |
Laxmi Organic Industries IPO opens on March 15, 2021, and closes on March 17, 2021.
| IPO Open Date | Mon, Mar 15, 2021 |
| IPO Close Date | Wed, Mar 17, 2021 |
| Tentative Allotment | Mon, Mar 22, 2021 |
| Initiation of Refunds | Tue, Mar 23, 2021 |
| Credit of Shares to Demat | Wed, Mar 24, 2021 |
| Tentative Listing Date | Thu, Mar 25, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 17, 2021 |
Investors can bid for a minimum of 115 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 115 | ₹14,950 |
| Retail (Max) | 13 | 1,495 | ₹1,94,350 |
| S-HNI (Min) | 14 | 1,610 | ₹2,09,300 |
| S-HNI (Max) | 66 | 7,590 | ₹9,86,700 |
| B-HNI (Min) | 67 | 7,705 | ₹10,01,650 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |
The Company Laxmi Organic Industries IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Investment in YFCPL for part-financing itscapital expenditure requirements in relation to the setting up of the Proposed Facility | 60.40 |
| 2 | Investment in YFCPL for funding its working capital requirements of YFCPL | 37.74 |
| 3 | Funding capital expenditure requirements for expansion of our SI Manufacturing Facility | 91.06 |
| 4 | Funding working capital requirements of our Company | 35.18 |
| 5 | Purchase of plant and machinery for augmenting infrastructure development at our SI Manufacturing Facility | 12.57 |
| 6 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company and VLPL | 179.31 |
| 7 | General corporate purposes | 63.73 |
[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...
| Listing Date | March 25, 2021 |
| BSE Script Code | 543277 |
| NSE Symbol | LXCHEM |
| ISIN | INE576O01020 |
| Final Issue Price | ₹130 per share |
| BSE Listing Group | B |
Laxmi Organic Industries Ltd.
A-22/2/3, MIDC,
Mahad, Raigad– 402 309
Mahad, Maharashtra
Phone: +91-2145-232424
Email: investors@laxmi.com
Website: http://www.laxmi.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: laxmiorganic.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Laxmi Organic Industries IPO is a main-board IPO of 4,61,53,846 equity shares of the face value of ₹2 aggregating up to ₹600.00 Crores. The issue is priced at ₹130 per share. The minimum order quantity is 115.
The IPO opens on March 15, 2021, and closes on March 17, 2021.
MUFG Intime India Pvt.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 Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Laxmi Organic Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Laxmi Organic Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Laxmi Organic Industries IPO opens on March 15, 2021 and closes on March 17, 2021.
Laxmi Organic Industries IPO lot size is 115, and the minimum amount required for application is ₹14,950.
You can apply in Laxmi Organic Industries IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Laxmi Organic Industries 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 Industries IPO allotment status.
The Laxmi Organic Industries IPO listing date is on Thursday, March 25, 2021.
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