Check share allocation here: The IPO of Laxmi Organic Industries, a speciality chemical manufacturing company, has received a good response from investors. Now investors are eyeing the allocation of shares of Laxmi Organic Industries. The share allocation of this IPO will be done today. The IPO will be listed on March 25. If you have also invested in the IPO of Laxmi Organic, then you can check from home whether you have got the shares or not. Let’s know everything about it.
Link Intime India is the private issue registrar for this IPO and is managing the allocation and refunds. Once the share allocation process is complete, investors can check the status of their application on the website of Link Intime India. Let us know that the IPO of Laxmi Organic Industries was opened on 15 March and it was closed on 17 March. The price band of the IPO was 129– 130 rupees per share. The company is expected to get Rs 600 crore from its IPO.
IPO was subscribed 107 times
The IPO of Lakshmi Organic Industries, a company that makes speciality chemicals, was subscribed nearly 107 times. The stock is trading at a premium of 63 rupees in the gray market. Qualified Institution Buyers (QIBs) were subscribed 175.45 times, Non-Institutional Investors 217.62 times and Retail Individual Investors (RIIs) were subscribed 20 times.
35 per cent of the IPO was reserved for retail investors and 50 per cent QIB and the remaining was reserved for non-institutional investors.
180 crores raised from anchor investors
300 crores of new shares have been issued in the IPO while shares worth Rs 300 crores have been offered for sale by its promoter Yellow Stone Trust. Prior to the IPO, the company raised Rs 180 crore from Anchor Investors.
The proceeds from the IPO will be used to use working capital, build new chemical manufacturing facilities, update existing units and purchase plant and machinery.
Company business
Laxmi Organic is the country’s largest ethyl acetate exporter, especially in Europe. Given the company’s experience and a direct presence in Europe, it will help strengthen its position in the future and increase sales. The company has customers in 30 countries including China, Russia, Singapore, UAE, UK and USA.
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