Laxmi Organic IPO Share Allotment: The allotment of shares is going to be finalized on Monday i.e. March 22, under the IPO of Mumbai based organic chemical company Laxmi Organic. On March 24, shares will come into the demat account of those investors, who will be allotted. On March 25, the company’s stock will begin in the market. The IPO was open for investment from March 15 to March 17, which received a good response from investors. In the gray market too, Lakshmi Organic’s stock is trading at a premium of 60 to 70 rupees i.e. more than 50 per cent. The price band for the IPO was fixed at Rs 129-130. In such a situation, the stock may start strongly in the market.
Great response from investors
Laxmi Organic’s IPO received a strong response from investors. About 107 times bids were received for this IPO. The HNI quota was subscribed 217.62 times, while the qualified institutional bidders received bids of 175.43 times. At the same time, the IPO was subscribed more than 20 times by retail investors.
Option 1: From BSE website
For this, first you have to go to the BSE website.
After that the equity box has to be checked.
Then you have to enter the name of the issue in the dropdown.
After that you have to type your application number in the box.
After that you will have to give information about your PAN number.
Finally, you have to click on the search button, after which the complete information will be revealed.
Option 2: On the registrar’s website
Link Intime India is the registrar for this issue. For this IPO, one has to go to the registrar’s website.
The website is https://www.linkintime.co.in/IPO/public-issues.html.
Type the company name in the dropdown.
After this, enter PAN number, application number or depository / client ID in the box
Then enter the captcha and click on the search button.
(Note – If the share is allotted, then the status will be visible.)
Read Also: Laxmi Organic IPO: Shares will be allotted today, whether you get stock or not, check here
The fund will be used to repay the loan
Laxmi Organic had fixed the price band for the IPO at Rs 129-130. At the same time, Laxmi Organic had an IPO lot size of 115 shares. In terms of the upper price band of Rs 130, it was necessary to invest at least Rs 14950 in this IPO. After this, investments in multiples of 115 could be made. Axis Capital and DAM Capital Advisors are the book running lead managers for the IPO. The funds received by Laxmi Organic from this issue will be used to pay off the debt and to build a flowability chemical plant.
About the company
Lakshmi Organics is the largest ethyl acetate producer in the country, with a 30 per cent market share. The company is also an upfront player in the market of derivatives. The company’s product portfolio has significantly more diversity. The company has access to 30 countries of the world. This includes China, Netherlands, Russia, Singapore, United Arab Emirates, UK and USA. Its main customers are giants like Alembic Pharma, Dr. Reddy’s Labs, Hetero Labs, Laurus Labs, McLeod Pharma, Mylan Labs, United Phosphorus.