The Initial Public Offering from Laxmi Organic Ind is another one in a long line of upcoming IPOs. Here are some of the most important Laxmi Organic Ind IPO details that you need to know.
About the company
Established in the year 1989, Laxmi Organic Industries Limited is in the business of manufacturing chemicals such as Acetyl Intermediates and Specialty Intermediates. In fact, the company is one of the leading manufacturers of ethyl acetate in the country, with a large market share of around 30%.
The company’s product portfolio is very diverse and includes chemicals such as ethyl acetate, acetaldehyde, fuel-grade ethanol, ketene, esters, acetic anhydride, amides, arylides, among others.
The chemicals manufactured by the company are used in an extensive range of industries like pharmaceuticals, agrochemicals, paints, printing and packaging, flavouring and fragrances, and adhesives. The company has a wide global footprint, covering more than 30 countries worldwide.
Laxmi Organic Ind IPO details
Here are some of the key details of the latest IPO from Laxmi Organic Ind including the Laxmi Organic Ind IPO date and the Laxmi Organic Ind IPO share price band.
Laxmi Organic Ind IPO date
The opening date of the Laxmi Organic Ind IPO is 15th March, 2021 and the closing date is 17th March, 2021.
Laxmi Organic Ind IPO issue size
The total issue size of the new IPO of Laxmi Organic Ind is slated to be around Rs. 800 crores. The issue consists of both a fresh issue of shares as well as an Offer for Sale (OFS) component. The company is likely to net around Rs. 500 crores from the fresh issue, whereas the OFS route is likely to fetch around Rs. 300 crores for the promoters of the company.
Laxmi Organic Ind IPO share price band
The offer price of the upcoming IPO is Rs. 129. The issue type is ‘Book built portion’.
Laxmi Organic Ind IPO listing
The company has decided to list its shares on both the premier stock exchanges of the country - the NSE as well as the BSE.
Laxmi Organic Ind IPO objectives
The company has listed the following as the objectives of its latest IPO.
- For funding the working capital requirements
- For purchasing plant and machinery
- For repaying or prepaying outstanding borrowings of the company and its subsidiary
- For funding capital expenditure requirements
- For investing in its wholly owned subsidiary - Yellowstone Fine Chemicals Private Limited
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