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Laxmi Organic Industries Limited IPO (Laxmi Organic IPO) Detail

Mar 15, 2021 - Mar 17, 2021

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.

Competitive Strengths

  • Leading manufacturer of ethyl acetate in India.
  • Largest manufacturer of diketene derivative products.
  • Diversified customer base across industries.
  • Strategically located manufacturing facilities.
  • Consistent financial performance.

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

Objects of the Issue

  • Investment in subsidiary firm, Yellowstone Fine Chemicals Private Limited (YFCPL) to partly finance the capex to establish a new manufacturing facility.
  • To invest in YFCPL for financing working capital requirements.
  • To finance the capex for expansion of SI manufacturing facility.
  • To finance business working capital requirements.
  • To purchase plant and machinery for infrastructure development at SI facility.
  • To make prepayment or repayment of borrowings availed by the company and subsidiary, Viva Lifesciences Pvt Ltd (VLPL).
  • To meet general corporate purposes.

Laxmi Organic IPO Details

Laxmi Organic IPO Date Mar 15, 2021 to Mar 17, 2021
Laxmi Organic IPO Face Value ₹2 per share
Laxmi Organic IPO Price ₹129 to ₹130 per share
Laxmi Organic IPO Lot Size 115 Shares
Issue Size[.] shares of ₹2
(aggregating up to ₹600.00 Cr)
Fresh Issue[.] shares of ₹2
(aggregating up to ₹300.00 Cr)
Offer for Sale[.] shares of ₹2
(aggregating up to ₹300.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

Yellow Stone Trust and Ravi Goenka are the company promoters.

Laxmi Organic IPO Timeline (Tentative Timetable)

Laxmi Organic IPO opens on Mar 15, 2021, and closes on Mar 17, 2021. The Laxmi Organic IPO bid date is from Mar 15, 2021 10.00 A.M. to Mar 17, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Laxmi Organic IPO Opening Date Mar 15, 2021
Laxmi Organic IPO Closing Date Mar 17, 2021
Basis of Allotment Mar 22, 2021
Initiation of Refunds Mar 23, 2021
Credit of Shares to Demat Mar 24, 2021
Laxmi Organic IPO Listing Date Mar 25, 2021

Laxmi Organic IPO Lot Size

The Laxmi Organic IPO 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
Retail (Min) 1 115 ₹14,950
Retail (Max) 13 1495 ₹194,350

Laxmi Organic IPO Promoter Holding

Pre Issue Share Holding 89.51%
Post Issue Share Holding 72.92%

Laxmi Organic IPO Review

Based on the company’s financial data, the issue appears averagely priced compared to industry composite and listed peers. However, considering its long-standing relations with marquee global customers and plans to shift for high margin speciality chemicals business, it has bright prospects going forward. Investors looking for a long term bet may invest in this IPO. Read detail review...


Laxmi Organic IPO Subscription Status (Bidding Detail)

The Laxmi Organic IPO is subscribed 106.81 times on Mar 17, 2021 6:49:00 AM. The public issue subscribed 20.10 times in the retail category, 175.43 times in the QIB category, and 217.62 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB175.43
NII217.62
Retail20.10
Total106.81

Laxmi Organic IPO Prospectus

Laxmi Organic IPO Rating

1440
4.2
Rating:Rated 4.2 stars
Vote Here ...

Laxmi Organic IPO Listing Date

Listing Date Thursday, March 25, 2021
BSE Script Code 543277
NSE Symbol LXCHEM
Listing In B Group of Securities
ISIN INE576O01020
IPO Price ₹130 per share
Face Value ₹2 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹130.00
₹156.20
₹143.00
₹174.50
₹164.60
NSE
₹130.00
₹155.50
₹143.25
₹174.60
₹164.45

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

Phone: +91-22-4918 6270
Email: laxmiorganic.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Laxmi Organic IPO FAQs

Laxmi Organic IPO is a main-board IPO of [.] equity shares of the face value of ₹2 aggregating up to ₹600.00 Crores. The issue is priced at ₹129 to ₹130 per share. The minimum 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 proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Laxmi Organic IPO using UPI as a payment gateway. Zerodha customers 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 through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Laxmi Organic IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Laxmi Organic IPO opens on Mar 15, 2021 and closes on Mar 17, 2021.

Laxmi Organic IPO lot size is 115 Shares and the minimum order quantity is .

You can apply in Laxmi Organic IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Laxmi Organic IPO will be done on Mar 22, 2021, and the allotted shares will be credited to your demat account by Mar 24, 2021. Check the Laxmi Organic IPO allotment status.

The Laxmi Organic IPO listing date is on Thursday, March 25, 2021.
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Laxmi Organic IPO Message Board

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1464 Comments

755. bharat vishvkarma |   Link |Mar 23, 2021 8:51:34 AM
10 se jyada ipo me apply ke baad.. allotment nhi mila.. lekin.. itna jarur pata chal gayaa..
.
.
kfintech is better then linkintime...
755.4. Chokdi gang |   Link |Mar 23, 2021 9:28:18 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Linkintime pura corruption wala hai kfintech best hai
755.5. rohan sharma |   Link |Mar 23, 2021 9:36:16 AM
Agreed , Linkintime doesn''t allot common people , they will allot only if you pay them "cut money".
754. Goyalgroup |   Link |Mar 28, 2021 8:05:36 PM
Laxmi organics is a best among IPO ISSUE IN March 2021
753. Jaju bkn |   Link |Mar 28, 2021 12:02:21 AM
Still holding for price of 260
753.1. Rahul Popat |   Link |Apr 18, 2021 4:05:24 PM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
You will see soon.
Not alloted but buy from open market
752. MICKY KUMAR |   Link |Mar 25, 2021 12:17:28 PM
Laxmi Organic bach gaya aaj aur maket 250 point nechey hai

i have sell out all four lots at below prices.

LOT -1      147.5
LOT -2      157.3
LOT -3      153.5
LOT -4      153.5
752.1. ipobull |   Link |Mar 27, 2021 10:05:10 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Why you were in such a hurry
751. Cheelu |   Link |Mar 27, 2021 7:09:27 PM
I didn''t get allotment, my amount is still blocked and it is showing in sbi lien amount. What should I do, pls help
750. Have Faith |   Link |Mar 26, 2021 4:54:28 PM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
Sold 79 shares at Rs 190 ..capital recoverd ..rest 36 shares kept for long term
749. Jindal jain |   Link |Mar 26, 2021 2:42:13 PM
Well easy my trip on its way for 300-350
748. RGP |   Link |Mar 26, 2021 11:15:53 AM
still i have to hold or sell now
747. IPO Mitr |   Link |Mar 26, 2021 10:12:06 AM
Made a partial exit at @188.
747.1. poweripo |   Link |Mar 26, 2021 11:04:35 AM
good move
746. Rafiq |   Link |Mar 26, 2021 10:44:35 AM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
I told yesterday, it will go 200 if market positive by today
745. Roxpatel |   Link |Mar 26, 2021 10:36:22 AM
Top Contributor Top Contributor (400+ Posts, 600+ Likes)
Good going, next target should be 240, I will buy more on dips if getting chance
744. IPO Mitr |   Link |Mar 26, 2021 9:53:00 AM
Listing @73.95 on NSE and @73.9 on BSE
744.1. IPO Mitr |   Link |Mar 26, 2021 10:10:30 AM
This message appeared here due to some problem on the site. Apologies.
743. harit |   Link |Mar 26, 2021 10:02:46 AM
Ready for uc
742. Rahul Popat |   Link |Mar 25, 2021 8:57:25 AM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Listing between 160-170

If open near 130 buy for trgt 150 sl 115
742.2. Rahul Popat |   Link |Mar 26, 2021 12:16:21 AM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Perfect prediction again....

Buy near 120-140 for long term means 5 + years...
742.3. Mr.Z |   Link |Mar 26, 2021 9:26:36 AM
What the support if sensex falls 48000?Its a Trend reversal?
741. Sonu kumar Meena |   Link |Mar 25, 2021 11:46:10 AM
Laxmi organic ipo 130 per share se mila tha maine 115 share sell 161 par kiya lekin mere demat acct me paise 18515 aane chhaiye lekin aaye 14812 kyo😢????
741.1. angashe |   Link |Mar 25, 2021 12:01:19 PM
Sebi rule --80 percent will get same day of selling,,rest 20 percent will get on next day...
741.2. Vibhor Saxena |   Link |Mar 25, 2021 11:39:20 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
kal dikhenge saare paise aapko demat mein
740. Mahavir dugar |   Link |Mar 25, 2021 9:17:43 PM
GOLDMAN SACHS INDIA FUND LIMITED Buy 16,75,383 shares @ 155.71 And PLUTUS WEALTH MANAGEMENT LLP Buy 1500000 shares @ 155.50 .

Laxmi organic is a multibagger keep it in your portfolio.
739. Ashish Khater |   Link |Mar 25, 2021 7:50:51 AM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Good morning friends,
Today is the listing of laxmi organics.....all the best to allotees....

My expected listing range 160-165. Can touch 175 intraday

Ashish Khater

739.5. Neelesh Chouhan |   Link |Mar 25, 2021 3:38:08 PM
buy 185 @162
for long term
is good or not?
739.6. Ashish Khater |   Link |Mar 25, 2021 9:01:55 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Thank You. Ya but i myself Sold at 160. Was in office so could not track it further during the day. Tomorrow again should reach 175 initially. @Neelesh Chouhanji, Safe to book out i feel and switch to Somthing like Navin Flourine or Deepak Nitrite.

Ashish Khater

738. ManishDwiv |   Link |Mar 25, 2021 8:44:25 PM
Goldman Sachs & Plutus Wealth Management LLP bought good amount
737. KAMMA SIVA RAMA KRISHNA |   Link |Mar 25, 2021 7:40:46 PM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
Sold the allotted lot @ Rs.163/-. Not unhappy.
737.1. INDIAWAY |   Link |Mar 25, 2021 8:28:59 PM
IPO Mentor IPO Mentor (600+ Posts, 1900+ Likes)
@SRK ji

you sold at good rate.

hmm lets see next month will come good IPOs .
expecting 4 to 5 will come
737.2. KAMMA SIVA RAMA KRISHNA |   Link |Mar 25, 2021 8:39:20 PM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
INDIAWAY ji, thank you very much.
736. rsk |   Link |Mar 25, 2021 8:13:08 PM
IPO Mentor IPO Mentor (500+ Posts, 300+ Likes)
25-Mar-21      LXCHEM      Laxmi Organic Indus Ltd      GOLDMAN SACHS INDIA FUND LIMITED      BUY      1675383      155.71      -