Laxmi Organic Industries Ltd IPO: Laxmi Organic Industries, whose initial public offer (IPO) will hit the market alongside Craftsman Automotive on March 15, has fixed a price band of Rs 129-130 per share for its issue. The Rs 600 crore issue comprises issuance of fresh equity shares aggregating up to Rs 600 crore and an offer for sale (OFS) of shares aggregating up to Rs 300 crore.
Laxmi was set up nearly three decades ago with the objective of manufacturing alcohol-based chemicals. In our early days, we focused primarily on the production of bulk chemicals.
Subsequently, they progressed up the value chain and started producing ethanol downstream, and pioneered the manufacturing of solvents in India. Due to their high standards in quality and meticulous focus on customer satisfaction, they became one of the preferred partners of choice of pharmaceutical companies and ink manufacturers. In the past decade, they have expanded their capabilities to specialty intermediates. The addition of Diketene to their product portfolio has solidified their position as a leading manufacturer of fine and specialty chemicals in the country.
In the coming years, they aim to establish themselves as a leader in speciality intermediates and become the growth partner of choice to global
Life Sciences, Crop Sciences, and Pigments companies.
Promotors of Laxmi Organic Industries Ltd
- Ravi Goenka, aged 58 years, is the Chairman and Managing Director of the Company.
- Satej Nabar, aged 56 years, is an Executive Director and Chief Executive Officer of the Company.
- Harshvardhan Goenka, aged 31 years, is an Executive Director – Business Development and Strategy of the Company.
Financials of Laxmi Organic Industries Ltd
|Particulars (INR & Millions)||30-Sep-20||31-Mar-20||31-Mar-19||31-Mar-18|
|Profit After Tax||454.84||702.12||723.91||756.95|
Laxmi Organic Industries Ltd IPO Details
|Issue Period||15-Mar-2021 to 17-Mar-2021|
|Post issue Modification Period||18-Mar-2021 (10.00 A.M. to 11.00 A.M.)|
|Cut-off time for UPI Mandate Confirmation||18-Mar-2021 (upto 12:00 PM)|
|Issue Size||Initial Public offer of [.] Equity Shares aggregating up to Rs. 6,000.00 million comprising a fresh issue of up to Rs.3,000.00 million and an offer for sale of up to Rs. 3,000 million|
|Issue Type||100% Book Building|
|Price Range||Rs.129 to Rs.130|
|Tick Size||Re 1|
|Bid Lot||115 Equity Shares and in multiples thereof|
|Minimum Order Quantity||115 Equity Shares|
|Maximum Subscription Amount for Retail Investor||Rs. 2,00,000|
|IPO Market Timings||10.00 a.m. to 5.00 p.m.|
|Book Running Lead Managers||DAM Capital Advisors Limited (formerly known as IDFC Securities Limited) and Axis Capital Limited|
|Sponsor Bank||HDFC Bank Limited|
|Name of the Registrar||Link Intime India Private Limited|
|Address of the Registrar||C101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, Maharashtra|
|Contact person name number and Email id||Shanti Gopalkrishnan, |
+91 22 4918 6200, email@example.com
Laxmi Organic Industries Ltd IPO Latest Grey Market Premium (GMP)
|DATE||OFFER PRICE||GREY MARKET PREMIUM||KOSTAK RATES|
|16.03.2021||₹ 130||₹ 90-100||₹ 400|
|15.03.2021||₹ 130||₹ 90-100||₹ 400|
|14.03.2021||₹ 130||₹ 90-100||₹ 400|
|13.03.2021||₹ 130||₹ 90-100||₹ 400|
|12.03.2021||₹ 130||₹ 110-120||₹ 450|
|11.03.2021||₹ 130||₹ 80-90||₹ 400|
|10.03.2021||₹ 130||₹ 80-90||₹ 350|
|09.03.2021||₹ 130||₹ 120-125||₹ 300|
|08.03.2021||₹ 130||₹120-125||₹ 300|
Tentative Date/ Timetable of Laxmi Organic Industries Ltd IPO
|Bid/Offer Opens On||Mar 15, 2021|
|Bid/Offer Closes On||Mar 17, 2021|
|Finalization of Basis of Allotment||Mar 22, 2021|
|Initiation of Refunds||Mar 23, 2021|
|Credit of Shares to Demat Acct||Mar 24, 2021|
|IPO Shares Listing Date||Mar 25, 2021|
IPO Subscription Details of Laxmi Organic Industries Ltd
|DAY 1||DAY 2||DAY 3|
IPO Allotment status of Laxmi Organic Industries Ltd
Laxmi Organic Industries Ltd Allotment Status can be checked here by clicking to find the IPO Allotment Status. Allotment of Equity Shares as per the Fresh Issue and move of the Offered Shares of the Promoter Selling Shareholders compliant with the Offer available to be purchased to the effective Bidders.
Company Contact Information
Laxmi Organic Industries Ltd.
Mahad, Raigad– 402 309
Laxmi Organic Industries Ltd IPO Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270