Laxmi Organic was incorporated on May 15, 1989. The comany manufactures products which are divided into two categories namely the Acetyl Intermediates and the Specialty Intermediates. The Acetyl Intermediates include ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents, while the Specialty Intermediates comprises of ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals
| Bidding Dates |
|---|
| 15 Mar 2021 - 17 Mar 2021 |
| Subscription |
|---|
| 106.81x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,950 | 1 | 13 | 115 | 46.2 M | ₹129 - ₹130 | 82.5 % | ₹5953.8 M - ₹6000.0 M | RHP DOC |
Laxmi Organic Ind IPO SUBSCRIPTION STATUS
17 Mar '21Laxmi Organic Ind IPO overall subscription rate was 106.81 times the total available shares
Laxmi Organic Ind IPO retail subscription rate was 20.1 times in the retail segment
Laxmi Organic Ind IPO non-institutional investor subscription rate was 217.62 times in the non-institutional investor category
Laxmi Organic Ind IPO Qualified Institutional Bidder subscription rate was 175.43 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
17 Mar 2021 (Day 3) | 20.1x | 217.62x | 175.43x |
16 Mar 2021 (Day 2) | 10.38x | 2.48x | 1.15x |
15 Mar 2021 (Day 1) | 4.34x | 0.49x | 0.01x |
Laxmi Organic Ind FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| H!FY21 | 454.8 | 8,134.1 | 354.7 | 119.2 | 10.6% |
| FY20 | 702.1 | 15,341.2 | 1,960.0 | 1,191.3 | 9.3% |
| FY19 | 723.9 | 15,685.2 | 1,876.5 | 903.2 | 10.1% |
| FY18 | 757.0 | 13,930.7 | -67.5 | -951.5 | 11.1% |
Laxmi Organic Ind IPO SUBSCRIPTION STATUS DETAILS
Laxmi Organic Ind had 46.2 M shares on offer
Laxmi Organic Ind IPO offer price was in the range ₹129 - ₹130
Laxmi Organic Ind IPO minimum Investment was ₹14950
Laxmi Organic Ind IPO issue size was ₹ 5953.8 M - ₹ 6000.0 M
Laxmi Organic Ind had a minimum lot size of 115 Shares per application
Laxmi Organic Ind NUMBER OF SHARES ON OFFER
Laxmi Organic Ind IPO IMPORTANT DATES
| Issue Open Date | 15 Mar 2021 |
| Issue close Date | 17 Mar 2021 |
| Allotment Date | 22 Mar 2021 |
| Refund Date | 23 Mar 2021 |
| Demat Account Credit Date | 24 Mar 2021 |
| Listing Date | 25 Mar 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Laxmi Organic Ind Allotment Status | Exchange |
Laxmi Organic Ind IPO subscription opened on 15 Mar 2021, and closed on 17 Mar 2021
IPO allotment for Laxmi Organic Ind was finalized on Monday, 22 Mar 2021
IPO listing for Laxmi Organic Ind was on NSE and BSE on Thursday, 25 Mar 2021
Laxmi Organic Ind IPO LISTING GAINS
| Issue Price (adjusted) | 130.0 |
| Listing Open Price | 173.0 |
| Listing Close Price | 164.6 |
| Listing Gain% | 33.1% |
| Current Gain% | 35.1% |
Laxmi Organic Ind Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Laxmi Organic Industries Ltd. | 175.6 | 4631 | 38.7 | 1.5 | 1.6 | 4 | 2.3 | 2862 | -4.9 | 79.4 | -30.1 | 4.5 | 25 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Laxmi Organic Ind IPO Reports
Laxmi Organic Ind INFORMATION ON IPO ISSUE
About Laxmi Organic Ind
Laxmi Organic was incorporated on May 15, 1989. The comany manufactures products which are divided into two categories namely the Acetyl Intermediates and the Specialty Intermediates. The Acetyl Intermediates include ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents, while the Specialty Intermediates comprises of ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals
Object of the Issue
1. Investment in subsidiary firm, Yellowstone Fine Chemicals Private Limited (YFCPL) to partly finance the capex to establish a new manufacturing facility.
2. To invest in YFCPL for financing working capital requirements.
3. To finance the capex for expansion of SI manufacturing facility.
4. To finance business working capital requirements.
5. To purchase plant and machinery for infrastructure development at SI facility.
6. To make prepayment or repayment of borrowings availed by the company and subsidiary, Viva Lifesciences Pvt Ltd (VLPL).
7. To meet general corporate purposes.
Laxmi Organic Ind - PROMOTERS
| Name |
|---|
| Yellow Stone Trust |
| Ravi Goenka |
Laxmi Organic Ind Book Running Lead Managers
Axis CapitalLimited
laxmi.ipo@axiscap.in
DAM Capital Advisors Limited
laxmi.ipo@damcapital.in
Laxmi Organic Ind Registrar to the Offer
Link Intime India Private Limited
laxmiorganic.ipo@linkintime.co.in
Laxmi Organic Ind Strengths
Largest manufacturer
The largest manufacturer of diketene derivative products
Diversified customer base
The company has a diversified customer base across industries
Financial performance
The company has given consistent financial performance
Laxmi Organic Ind Risks
Depends upon the global prices
Profitability largely depends upon the global prices of the products
Legal proceedings
There are outstanding legal proceedings involving the company, its Promoters and its Directors
Depends on Acetyl Intermediates
The company derives a majority of its income from the Acetyl Intermediates
IPO FAQs
This IPO consists of an offer for sale of up to Rs 300.0 crore, of 23,076,923 shares. It also consists of a fresh issue of Rs 300.0 crore.
The promoters of the company are Yellow Stone Trust and Ravi Goenka.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 129.0 - 130.0.
The IPO application opens on Mar 15, 2021 and closes on Mar 17, 2021.
The minimum lot size for the IPO is 115. The maximum lot size for the IPO is 1495.
For all category investors, the minimum application amount for this IPO is Rs. 14,950.0, the maximum value for this IPO is Rs 194,350.0.
This IPO will be allotted on Mar 22, 2021.
The refund will be credited to your account on Mar 23, 2021.
The allotted shares will be credited to your demat on Mar 24, 2021.
Laxmi Organic Industries Ltd.’s shares listed on the stock exchanges on Mar 25, 2021.