Laxmi Organic Industries is a Mumbai-primarily based mostly speciality chemical producer. (Tell offer: Pixabay)
Laxmi Organic Industries IPO: The Rs 600 crore initial public offering (IPO) of speciality chemical producer Laxmi Organic Industries will originate on Monday, March 15, 2021, and shall be readily accessible for subscription till Wednesday, March 17, 2021. The tag band of the IPO has been mounted at Rs 129-130 per fragment of the face tag of Rs 2 every.
Laxmi Organic Industries is a Mumbai-primarily based mostly speciality chemical producer. The company is mad about two key trade segments: Acetyl Intermediates and Speciality Intermediates. Upon its list, this might possibly possibly be a part of the likes of Aarti Industries, Ravishing Organic Industries, Navin Flourine International, Rossari Biotech etc.
The IPO consists of a fresh say of equity shares price Rs 300 crore and offer-for-sale (OFS) of Rs 300 crore by the promoter Yellow Stone Trust, as per the info given in the red herring prospectus readily accessible on the Nationwide Stock Alternate (NSE).
Investors who like to subscribe to Laxmi Organic Industries’ IPO can mutter in the lot of 115 equity shares and multiples thereof. At the upper tag band, they are going to deserve to shell out Rs 14,950 to earn a single lot of Laxmi Organic. The shares shall be listed on both BSE and NSE.
The company, in session with the book running lead managers to the say, undertook a non-public placement of 15,503,875 equity shares aggregating to Rs 200 crore. Consequently, the scale of the fresh say has been reduced from Rs 500 crore to as much as Rs 300 crore.
Half of of the say is reserved for qualified institutional investors, 35 per cent for retail traders and 15 per cent for non-institutional bidders.
The catch proceeds from the say shall be utilised for setting up a producing facility for fluorospecialty chemicals, working capital requirements, resolve of plant and equipment and upgrading present gadgets, in accordance to the red herring prospectus.
Sooner than the public offer, the anchor traders’ portion shall be readily accessible on Friday, March 12, 2021.
Axis Capital and DAM Capital Advisors (previously identified as IDFC Securities) are the book running lead managers to the IPO while Hyperlink Intime India is the registrar of the say.
The company exports its merchandise to better than 30 international locations along with China, Netherlands, Russia, Singapore, UAE, UK and US.
