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:
| 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
| Category | IPO Subscription |
|---|---|
| QIB | 175.43x |
| NII | 217.62x |
| RII | 20.10x |
| Total | 106.00x |
| Date | GMP (in INR) | Kostak (in INR) | Subject to Sauda |
| 18 MAR 2021 | 70 | 500 | 6500 |
| 17 MAR 2021 | 85 | 400 | 7000 |
| 16 MAR 2021 | 90 | 400 | 6000 |
| 15 MAR 2021 | 95 | 400 | 7000 |
| 14 MAR 2021 | 90 | 450 | 7000 |
| 13 MAR 2021 | 90 | 450 | 7000 |
| 12 MAR 2021 | 85 | 450 | 7000 |
| 11 MAR 2021 | 85 | ||
| 10 MAR 2021 | 90 | 300 | 4000 |
| 09 MAR 2021 | 125 | 400 | 4000 |
| 08 MAR 2021 | 125 | 300 | 4000 |
Laxmi Organic IPO Rating
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Company Contact Information
Laxmi Organic IPO Registrar
Laxmi Organic IPO Lead Manager(s)
- Axis Capital Limited
- DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
Lead Manager Reports
- Lead Manager Performance Tracker
- List of IPOs handled by a Lead Manager
Laxmi Organic IPO FAQs
What is Laxmi Organic IPO?
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 equity share. The minimum order quantity is 115 Shares.
The IPO opens on Mar 15, 2021, and closes on Mar 17, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
How to apply in Laxmi Organic IPO through Zerodha?
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 the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'Laxmi Organic IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
When Laxmi Organic IPO will open?
The Laxmi Organic IPO opens on Mar 15, 2021 and closes on Mar 17, 2021.
What is the lot size of Laxmi Organic IPO?
Laxmi Organic IPO lot size is 115 Shares and the minimum order quantity is 115 Shares.
How to apply for Laxmi Organic IPO?
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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
When Laxmi Organic IPO allotment?
The finalization of Basis of Allotment for Laxmi Organic IPO will be done on Mar 22, 2021, and the allotted shares will be credited to your demat account by Mar 24, 2021. Check the Laxmi Organic IPO allotment status.
When is Laxmi Organic IPO listing date?
The Laxmi Organic IPO listing date is not yet announced. The tentative date of Laxmi Organic IPO listing is Mar 25, 2021.
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