InvestorQ : What is the objective of the Laxmi organic Industries IPO?
shivani Walawalkar made post

What is the objective of the Laxmi organic Industries IPO?

Aswini Chikkodi answered.
2 months ago
The fund raised will be used to set up a manufacturing facility for fluoro specialty chemicals, working capital requirements, purchase of plant and machinery, and upgrading existing units. The proceeds will also be utilized for prepayment or repayment of all or a portion of certain outstanding, besides general corporate purposes.

The company has raised Rs180cr from anchor investors on 12th March, ahead of the public offering. According to a BSE circular, the company has allocated 1.38cr shares at Rs 130 to 15 anchor investors including Nomura India Equity Fund, Abu Dhabi Investment Authority, Goldman Sachs, Kuber India (Plutus), Theleme India Master Fund, Malabar India Fund, SBI Mutual Fund, ICICI Prudential Mutual, etc.

Investors who are interested can apply for Laxmi Organic IPO online either through UPI or ASBA as a payment method. ASBA IPO application will be available in the net banking of your bank account while the UPI IPO application will be offered by brokers who do not offer banking services. The minimum lot size is 115 shares and in multiples of 115 shares thereafter.