Laxmi Organic IPO:GMP, Issue Size, Issue price, IMP Dates.

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Laxmi Organic IPO is all set to make a debut in the stock market with an issue size of 600 Cr.

Laxmi Organic IPO -Overview    

Laxmi Organic Industries IPO Issue Date           15-17 March 2021          
Laxmi Organic Industries IPO Opening Date           15 March 2021         
Laxmi Organic Industries IPO Face Value           INR 2 per share           
Laxmi Organic Industries IPO Price           INR 130 per share          
Laxmi Organic Industries IPO Lot Size           115 Shares          
Issue Size           600 Cr          
Offer for sale           300 Cr 
Issue Type           Book built Issue IPO           
Listing At           BSE, NSE
QIB Shares Offered             175.43 times          
NII (HNI) Shares           217.62 times          
Company Promoters           Yellow Stone Trust and Ravi Goenka are the company promoters.  

Laxmi Organic IPO -Tentative Dates           

Laxmi Organic Industries IPO opening date           15 March 2021             
Laxmi Organic Industries IPO closing date           17 March 2021              
Basis of Allotment           22 March 2021          
Initiation of Refunds           23 March 2021              
The credit of Shares to Demat          24 March 2021           
Laxmi Organic Industries IPO Listing Date           25 March 2021          

Laxmi Organic IPO – Industry Overview.          

The chemical industry contributes approximately 6.6% of the national gross domestic product and accounts for 15-17% of India’s manufacturing sector. The government permits 100% foreign direct investment (FDI) in this sector under the automatic approval route.  The manufacturing of most chemical products inter-alia covering organic/inorganic, dyestuff, and pesticides is de-licensed. The factors such as a boost to specialty (as well as fine agrochemicals) chemicals due to rapid development in the construction and agricultural sector, inadequate per capita consumption, and strong demand from paints, textiles, and a diversified manufacturing base shall aid the development of the Indian chemicals sector. 

Laxmi Organic Industries IPO – Company Overview     

leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in the large-scale manufacturing of chemicals. Since inception in 1989, we have been on a journey of transformation. Lakshmi organic initially started manufacturing acetaldehyde and acetic acid in 1992, and soon thereafter moved on to manufacturing ethyl acetate in 1996. they are currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market (source: Frost & Sullivan Report). Further, post-completion of the YCPL Acquisition, the market share in the ethyl acetate market will be enhanced.  In 2010, commenced manufacturing the Specialty Intermediates by acquiring Clariant’s diketene business. 

 Laxmi Organic Industries IPO -Objectives           

  • 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 purchase plants 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). 

Laxmi Organic Industries IPO – Financial Statements          

Particulars          31-Sept-20  31-Mar-20        31-Mar-19        
Total Assets          10,371.32 10,706.33 10,144.88 
Total Revenue          8,143.55 15,386.21 15,743.23 
Profit After Tax          454.84 702.12 723.91 

Laxmi Organic Industries IPO – 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. 

Laxmi Organic Industries IPO- Weakness                               

  • The company has considerable long-term debt of Rs 90.15 crores. Over the last four years, this has increased to a CAGR of 28.92%. 

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/ 

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