The public providing will comprise recent issuance of shares aggregating to Rs 300 crore and a proposal on the market value Rs 300 crore by the promoter Yellow Stone Trust
Specialty chemical substances producer Laxmi Organics Industries will open its Rs 600 crore preliminary public providing (IPO) for subscription on 15 March. The IPO closes on 17 March.
The public providing will comprise recent issuance of shares aggregating to Rs 300 crore and a proposal on the market value Rs 300 crore by the promoter Yellow Stone Trust.
The firm undertook a non-public placement of 15,503,875 fairness shares aggregating to Rs 200 crore and therefore the dimensions of the recent problem lowered from 500 crore to up to Rs 300 crore.
The firm has additionally raised Rs 180 crore from anchor buyers on 12 March, forward of the general public providing. According to a BSE round, the corporate has determined to allocate 1,38,46,153 shares at Rs 130 to 15 anchor buyers together with Nomura India Equity Fund, Abu Dhabi Investment Authority, Goldman Sachs, Kuber India (Plutus), Theleme India Master Fund, Malabar India Fund, SBI Mutual Fund, ICICI Prudential Mutual, and so forth.
Investors who’re excited by bidding for the IPO can undergo the next details:
Price band: The value band of Rs 129 – Rs 130 per share has been mounted by the corporate for its preliminary public supply. Also, 50 per cent of the problem has been reserved for certified institutional consumers whereas 35 per cent is for retail buyers and 15 per cent for non-institutional bidders.
How to apply: Investors who’re prepared to make investments can apply in Laxmi Organic IPO on-line vis both UPI or ASBA as a fee technique. ASBA IPO software will probably be obtainable within the internet banking of your checking account whereas the UPI IPO software will probably be provided by brokers who don’t supply banking companies.
Important dates: The shares will doubtless be allotted round 22 March and can credit score allotted shares to the demat accounts of eligible buyers round 24 March and the shares will listing on the bourses by 25 March.
Objective: The fund raised will probably be used to arrange a manufacturing facility for fluoro specialty chemical substances, working capital necessities, buy of plant and equipment and upgrading present items. The proceeds will even be utilised for prepayment or reimbursement of all or a portion of sure excellent, moreover normal company functions.
Lot dimension: The Laxmi Organic IPO market lot dimension is 115 shares and in multiples of 115 shares thereafter.
Lead managers: There are two lead managers of the IPO — Axis Capital and DAM Capital Advisors (previously IDFC Securities).
Registrar: The registrar for the general public problem is Link Intime India Private Ltd.
About the corporate
Mumbai-based Laxmi Organics was integrated in 1989 and is a number one producer of acetyl intermediates and speciality intermediates with a worldwide presence in over 30 international locations.
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