IPO Status: Closed [15th Mar 2021 to 17th Mar 2021]
Laxmi Organic Industries Ltd, a specialty chemical manufacturing company is coming with an IPO of Rs. 600 crore comprising a fresh issue of Rs. 300 Cr and Offer for sale of Rs. 300 Cr to list on the BSE and NSE. The mainline IPO opens on 15 March and closes on 17 March. The IPO Lot size is 115 shares and price band is Rs. 129-130. The floor price is 64.50 times and cap price is 65 times of the face value. Stay updated here to know everything about Laxmi Organic IPO detail including issue size, important dates, DRHP, RHP, business overview, strengths, risks, GMP, Live Subscription, Allotment, and Recommendations.
Laxmi Organic is a specialty chemical manufacturing company. The key business segments of the company are Acetyl Intermediates and Specialty Intermediates (AI & SI). The AI business segment comprises ethyl acetate, acetaldehyde, fuel-grade ethanol, and other proprietary solvents, while the SI unit includes ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides, and other chemicals. It is among the largest manufacturers of ethyl acetate with approx 30% share in India and also the single manufacturer of diketene products in India having a market share of approx 55% in the Indian diketene derivatives market.
Its chemicals are being used by various industries such as pharmaceuticals, dyes & pigments, paints, agrochemicals, inks & coatings, printing, packaging, etc. Naming a few, Syngenta Asia Pacific Pte. Ltd., Alembic Pharmaceuticals Limited, Covestro (India) Private Limited, Dr. Reddy’s Laboratories Limited, Flint Group India Private Limited, Granules India Limited, Hetero Labs Limited, Huhtamaki India Limited, Laurus Labs Limited, Macleods Pharmaceuticals Private Limited, Neuland Laboratories Limited, Parikh Packaging Private Limited, Suven Pharmaceuticals Limited, etc. are its customers.
Currently, the firm has 2 manufacturing facilities; one is an AI Manufacturing facility and another is an SI Manufacturing facility in Mahad, Maharashtra with an aggregated installed capacity of 161,320 MTPA and 78,045 MTPA respectively. It also has 2 distilleries; Jarandeshwar Distillery in Satara District and Panchgana Distillery in Kolhapur district to manufacture ethanol or specially denatured spirit.
| Category | No. of Shares | INR in Cr | % |
|---|---|---|---|
| QIB | 23,255,812-23,076,922 | 300 | 50% |
| NIB | 6,976,744-6,923,077 | 90 | 15% |
| Retail | 16,279,070-16,153,847 | 210 | 35% |
| Total | 46,511,626-46,153,846 | 600 | 100% |
Laxmi Organic IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.
| Laxmi Organic Issue Details | Values |
|---|---|
| IPO Category: | Mainline |
| IPO Issue Type: | Book Built Issue IPO |
| IPO Issue Size: | ₹600 Cr. |
| Offer for Sale: | ₹300 Cr. |
| Fresh Issue: | ₹300 Cr. |
| Face Value: | ₹2 Per Equity Share |
| IPO Issue Price: | ₹129-130 |
| IPO Discount: | NA |
| Market Lot: | 115 Shares |
| Min Retail Qty: | 115 shares (1 lot) |
| Max Retail Qty: | 1495 shares (13 lots) |
| Promoter Holding Pre IPO: | 89.51% |
| Promoter Holding Post IPO: | 72.92% |
| IPO Listing At: | BSE, NSE |
| BSE Code: | 543277 |
| NSE Code: | LXCHEM |
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 9,302,324 | 6,976,744 | 16,279,070 | 32,558,138 | 1 | 15th Mar 2021 05:02 | 0.01x | 0.49x | 4.34x | 2.28x | 2 | 16th Mar 2021 05:02 | 1.15x | 2.48x | 10.38x | 6.05x | 3 | 17th Mar 2021 06:51 | 175.43x | 217.62x | 20.10x | 106.81x |
Past performance and financial results of Laxmi Organic.
| Laxmi Organic Industries Limited | 30-Sep-2020 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 |
|---|---|---|---|---|
| Total Assets | ₹1,037.13 Cr | ₹1,070.63 Cr | ₹1,014.49 Cr | ₹894.73 Cr |
| Total Income | ₹814.36 Cr | ₹1,538.62 Cr | ₹1,574.32 Cr | ₹1,396.07 Cr |
| Net Profit/Loss | ₹45.48 Cr | ₹70.21 Cr | ₹72.39 Cr | ₹75.69 Cr |
In this section we have covered all important dates related to Laxmi Organic IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.
| IPO Activity | Date |
|---|---|
| IPO Issue Open Date | 15th Mar 2021 |
| IPO Issue Close Date | 17th Mar 2021 |
| Basis of Allotment Finalisation Date* | 22nd Mar 2021 |
| Refunds Initiation* | 23rd Mar 2021 |
| Credit of Shares to Demat Account* | 24th Mar 2021 |
| IPO Listing Date* | 25th Mar 2021 |
* - Tentative Dates
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Laxmi Organic IPO DRHP >>Document
Laxmi Organic IPO RHP >>Document
Laxmi Organic IPO Allotment Status >>Link
Last Updated on 2021-04-13T00:44:19+00:00
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Laxmi Organic IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Laxmi Organic IPO with Zerodha.
Alternate approch to apply in Laxmi Organic IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Laxmi Organic IPO Review and Important Updates
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To subscribe or apply in Laxmi Organic IPO, you can use the following methods:
| Laxmi Organic IPO Applying Mode | Method | Details |
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Laxmi Organic IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Laxmi Organic IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Laxmi Organic IPO. Most of the Syndicate Banks provide access to apply in Laxmi Organic IPO via ASBA process. You must have your net banking access, DP ID information to apply in Laxmi Organic IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Laxmi Organic IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Laxmi Organic IPO Review and Important Updates
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Applying in Laxmi Organic IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Laxmi Organic IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Laxmi Organic IPO, please refer article >> Link
Laxmi Organic IPO Review and Important Updates
Steps to download the online application form for Laxmi Organic IPO
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Laxmi Organic IPO is going to be list on 25-03-2021. NSE Code for Laxmi Organic is LXCHEM. BSE Code for Laxmi Organic is 543277.
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Laxmi Organic IPO Allotment Date is 22-03-2021.
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