Bookbuilding IPO | ₹600 Cr | Listed at BSE, NSE | Mon, Mar 15, 2021 - Wed, Mar 17, 2021
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 per share. The lot size for an application is 115. The minimum amount of investment required by an retail is ₹14,950 (115 shares) (based on upper price). 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 Open
Mon, Mar 15, 2021
IPO Close
Wed, Mar 17, 2021
Issue Price
₹130 per share
Market Cap (Pre-IPO)
₹3,427.62 Cr
| IPO Date | 15 to 17 Mar, 2021 |
| Listed on | Thu, Mar 25, 2021 |
| Face Value | ₹2 per share |
| Price Band | ₹129 to ₹130 |
| Issue Price | ₹130 per share |
| Lot Size | 115 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 4,61,53,846 shares (agg. up to ₹600 Cr) |
| Fresh Issue | 2,30,76,923 shares (agg. up to ₹300 Cr) |
| Offer for Sale | 2,30,76,923 shares of ₹2 (agg. up to ₹300 Cr) |
| Share Holding Pre Issue | 24,05,85,850 shares |
| Share Holding Post Issue | 26,36,62,773 shares |
| BSE Script Code / NSE Symbol | 543277 / LXCHEM |
| ISIN | INE576O01020 |
Laxmi Organic Industries IPO comprises a total issue size of 4,61,53,846 shares. Out of which, 2,30,76,922 (50.00%) are allocated to QIB, 69,23,077 (15.00%) allocated to NII 1,61,53,847 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 115 shares and in multiples thereof.
| 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 |
Laxmi Organic Industries IPO raises ₹180.00 crore from anchor investors. Laxmi Organic Industries IPO Anchor bid date is March 12, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 12, 2021 |
| Shares Offered | 1,38,46,153 |
| Anchor Portion (₹ Cr.) | 180.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Apr 21, 2021 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jun 20, 2021 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Laxmi Organic IPO is subscribed 106.81 times on March 17, 2021 6:49:00 AM (Day 3). The public issue subscribed 20.1 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 175.43 | 93,02,324 | 1,63,19,02,900 |
| NII | 217.62 | 69,76,744 | 1,51,82,92,445 |
| Retail | 20.1 | 1,62,79,070 | 32,72,57,225 |
| Total | 106.81 | 3,25,58,138 | 3,47,74,52,570 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 14.16 |
| 2 | Selling commission payable to SCSBs for Bids directlyprocured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by RIIs using the UPI Mechanism) procured by the members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIIs | 1.08 |
| 3 | Selling commission and uploading charges payable to members of the Syndicate (including their sub-Syndicate Members), CRTAs, CDPs and Registered Brokers | 3.75 |
| 4 | Processing fees payable to the Sponsor Bank | 0.80 |
| 5 | Fees payable to the Registrar to the Offer | 0.30 |
| 6 | Listing fees, SEBI filing fees, upload fees, Stock Exchanges processing fees, book building software fees and other regulatory expenses | 4.26 |
| 7 | Printing and stationery expenses | 2.54 |
| 8 | Advertising and marketing expenses | 2.18 |
| 9 | Fees payable to legal counsels | 1.57 |
| 10 | Fees payable to the Monitoring Agency | 0.01 |
| 11 | Miscellaneous | 1.42 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹130.00 | ₹130.00 |
| Open | ₹156.20 | ₹155.50 |
| Low | ₹143.00 | ₹143.25 |
| High | ₹174.50 | ₹174.60 |
| Last Trade | ₹164.60 | ₹164.45 |
Lead Manager Reports
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 Crores. The issue is priced at ₹130 per share. The minimum order quantity is 115.
The IPO opens on Mon, Mar 15, 2021, and closes on Wed, Mar 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 Mon, Mar 15, 2021 and closes on Wed, Mar 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 Wed, Mar 24, 2021. Check the Laxmi Organic Industries IPO allotment status.
The Laxmi Organic Industries IPO listing date is on Thu, Mar 25, 2021.
