InvestorQ : When will Laxmi organic Industries Ltd’s IPO open & share details?
shivani Walawalkar made post

When will Laxmi organic Industries Ltd’s IPO open & share details?

Aswini Chikkodi answered.
2 months ago
Laxmi Organic Industries 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 products are used in various industries like pharmaceuticals, agrochemicals, inks & coatings, dyes & pigments, paints, printing & packaging, etc. Alembic Pharmaceuticals, Laurus Labs, Granules India, Suven Pharmaceuticals, UPL are some of its customers.

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.
Laxmi Organics Industries will open its Rs 600 crore initial public offering (IPO) for subscription on 15th March 2021.

The IPO closes on 17th March 2021. The public offering will comprise fresh issuance of shares aggregating to Rs300cr and an offer for sale worth Rs300cr by the promoter Yellow Stone Trust. The price band of Rs 129 - Rs 130 per share has been fixed by the company for its initial public offer. 50% of the issue has been reserved for qualified institutional buyers while 35% is for retail investors and 15% for non-institutional bidders.

The issue opens on March 15, 2021.
The issue closes on: March 17, 2021.
Face value: Rs 2.
Price per share: Rs 129-130.
Issue size: up to Rs 600 crore.
Shares on offer: 2.30 crore.
Minimum bid size: 115 shares.
Listing on: BSE and NSE.
Book running lead managers: Axis Capital, DAM Capital

The shares may be allotted around 22nd March and will be credited to the Demat accounts of eligible investors around 24th March. The tentative date for listing on the bourses is 25th March.