April 29, 2021 09:07 PM
Laxmi Organic Industries Limited IPO Detail
Laxmi Organic Industries 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.
Company Promoters:
Yellow Stone Trust and Ravi Goenka are the company promoters.
Company Financials:
| Summary of financial Information (Restated Consolidated) | |||||
| 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 | |
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% |
