Incorporated in 1989, Laxmi Organic Industries Ltd is a specialty chemical producer that operates in 2 enterprise segments; Acetyl Intermediates (AI) and Specialty Intermediates (SI). It is the main producer of ethyl acetate with over 30% market share within the Indian ethyl acetate market and the one producer of diketene derivatives in India.
Its AI section consists of ethyl acetate, acetaldehyde, fuel-grade ethanol, and different proprietary solvents whereas the SI section consists of ketene, diketene derivatives specifically esters, acetic anhydride, arylides, amides, and different chemical compounds. Its merchandise are being utilized in numerous industries like prescription drugs, agrochemicals, inks & coatings, dyes & pigments, paints, printing & packaging, and many others. 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 a few of its clients.
The firm has a world footprint with clients in 30 nations including but not restricted to China, Russia, Singapore, UAE, UK, USA, Netherland, and many others. Currently, it has 2 manufacturing amenities in Mahad, Maharashtra for the manufacturing of AI and SI products. It can be proposing to set-up a brand new manufacturing facility at Lote Parshuram, Maharashtra to fabricate 4 specialty chemical compounds.
Competitive Strengths
- Leading producer of ethyl acetate in India.
- Largest producer of diketene by-product products.
- Diversified buyer base throughout industries.
- Strategically positioned manufacturing amenities.
- Consistent monetary efficiency.
Company Promoters:
Yellow Stone Trust and Ravi Goenka are the corporate promoters.
Company Financials:
| Particulars | For the yr/interval 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 agency, Yellowstone Fine Chemicals Private Limited (YFCPL) to partially finance the capex to determine a brand new manufacturing facility.
- To put money into YFCPL for financing working capital necessities.
- To finance the capex for enlargement of SI manufacturing facility.
- To finance enterprise working capital necessities.
- To buy plant and equipment for infrastructure growth at SI facility.
- To make prepayment or compensation of borrowings availed by the corporate and subsidiary, Viva Lifesciences Pvt Ltd (VLPL).
- To meet basic company functions.
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 as much as ₹600.00 Cr) |
| Fresh Issue | [.] Eq Shares of ₹2 (aggregating as much as ₹300.00 Cr) |
| Offer for Sale | [.] Eq Shares of ₹2 (aggregating as much as ₹300.00 Cr) |
Laxmi Organic IPO Tentative Timetable
The Laxmi Organic IPO start date is Mar 15, 2021, and the close date is Mar 17, 2021. The issue could 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 as much as 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 Prospectus
Company Contact Information
Laxmi Organic Industries Limited
A-22/2/3, MIDC,
Mahad, Raigad– 402 309
Phone: +91-2145-232424
Email: investors@laxmi.com
Website: http://www.laxmi.com/
Laxmi Organic IPO Registrar
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: laxmiorganic.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
Laxmi Organic IPO Lead Manager(s)
Lead Manager Reports
Laxmi Organic IPO FAQs
- What is Laxmi Organic IPO?
Laxmi Organic IPO is a main-board IPO of [.] equity shares of the face worth of ₹2 aggregating as much as ₹600.00 Crores. The share is priced at ₹129- ₹130 per equity share. The minimal 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 set to be listed on BSE and NSE. - How to apply in Laxmi Organic IPO by way of Zerodha?
Zerodha clients can apply on-line in Laxmi Organic IPO using UPI as a payment gateway. Zerodha clients 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 by way of Zerodha- Visit the Zerodha web site and login to Console.
- Go to Portfolio and click on the IPOs hyperlink.
- Go to the ‘Laxmi Organic IPO’ row and click on the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (internet banking or BHIM) to approve the mandate.Visit Zerodha IPO Application Process Review for more detail.