IPO

Laxmi Organic Industries Limited IPO

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Chemicals

Listed On: Mar 25, 2021 at ₹ 155.50 (NSE)

₹ 14950 /115 Shares

Check Allotment

15 Mar, 2021

Open Date

17 Mar, 2021

Close Date

22 Mar, 2021

Allotment Date

25 Mar, 2021

Listing Date
Price Summary

Last Closing

171.90 (32.23%)

52 Week High

252.80

52 Week Low

160.20

Last Update

19-Dec-2025 3:30 PM
IPO Issue Details
  • Issue Price ₹129-130 per equity share
  • Face Value ₹2 Per Equity Share 
  • Issue Price N/A Eq Shares of ₹2 (aggregating up to ₹600.00 Cr)
  • Listing at BSE, NSE
  • List Price 155.50 (NSE)
  • Listing Date 2021-03-25
  • Lead Manager Axis Capital Limited, DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
  • Registrar Link Intime India Private Ltd
IPO Details
  • Retail Portion 35%
IPO Documents
DRHP
RHP
IPO Details


The IPO of is priced at ₹₹129-130 per equity share, which has a face value of ₹2 Per Equity Share  each, IPO bidding starts from Mar 15, 2021 and ends on Mar 17, 2021. The allotment for IPO will be finalized on Mar 22, 2021. IPO will be listed on BSE, NSE, with a tentative listing date fixed as Mar 25, 2021. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Axis Capital Limited, DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd).


The IPO sets its price band at ₹129-130 for each share. A single application for Laxmi Organic Industries Limited IPO must contain at least 115 shares.

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IPO Subscription Analysis And Details
Retail
19.96x
QIB
175.43x
NII
217.62x
Total
106.74x
As on QIB NII Retail Total
Shares Offered / Reserved 93,02,324 69,76,744 1,62,79,070 3,25,58,138
Day 1 15-03-21 05:00 PM
0.01 x 0.50 4.34 x 2.27 x
Day 2 16-03-21 05:00 PM
1.14 x 2.48 10.39 x 6.05 x
Day 3 17-03-21 05:00 PM
175.43 x 217.62 19.96 x 106.74 x
Valuations
Earnings Per Share (EPS) ₹2.64/-
P/E Ratio 48.19
RoNW 16.45%
Net Asset Value (NAV) - As on 31.09.20 ₹20.99
Company Financials
In Crs.
In Cr.
31-Sep-20 31-Mar-20 31-Mar-19 31-Mar-18
Assets 1,037.13 1,070.63 1,014.48 894.73
Revenue 814.35 1,538.62 1,574.32 1,396.07
Profit After Tax 45.48 70.21 72.39 75.69
About Company

Laxmi Organic Industries Ltd is a speciality chemical manufacturer that operates in 2 business segments; Acetyl Intermediates (AI) and Speciality 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 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 global footprint with customers in 30 countries including but not restricted to China, Russia, Singapore, UAE, UK, USA, Netherland, etc. Currently, it has 2 manufacuring facilities in Mahad, Maharashtra for manufacturing of AI and SI products. It is also proposing to set-up a new manufacturing facility at Lote Parshuram, Maharashtra to manufacture flurospecialty chemicals.

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- Promoter(s)

Yellow Stone Trust

Ravi Goenka

Pre Issue Share Holding : 89.51%

Post Issue Share Holding : 72.92%

IPO - Issue Objectives
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 company and its subsidiary, Viva Lifesciences Pvt Ltd (VLPL).

7

To meet general corporate purposes.

IPO - Peers Comparison
P/B Ratio P/E Ratio RoNW Revenue(in Cr.)
Laxmi Organics Industries Limited 6.19 49.19 16.45% 1,538.62
Aarti Industries Limited 7.01 45.08 15.55% 4,620.69
Atul Limited 5.73 32.80 17.47% 4,093.06
Fine Organics Industries Limited 10.78 61.36 17.57% 1,038.08
Navin Flourine International Limited 9.11 30.50 29.89% 1,061.55
Rossari Biotech Limited 14.53 N/A 15.97% 600.09
SRF Limited 6.59 42.29 15.58% 7,209.41