Laxmi Organic Industries Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 23,076,922 (50%) | — | ₹30,000 Cr |
| NII (HNI) | — | 6,923,077 (15%) | — | ₹9,000 Cr |
| Retail | — | 16,153,847 (35%) | — | ₹21,000 Cr |
| Σ Total | — | 46,153,846 (100%) | — | ₹600,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 115 | ₹14,950 |
| Retail (Max) | 13 | 1,495 | ₹194,350 |
| S-HNI (Min) | 14 | 1,610 | ₹209,300 |
| B-HNI (Min) | 67 | 7,705 | ₹1,001,650 |
Financial Statements Amount In Crore
| Metric | 30-Sep-20 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Revenue | 814 | 1,539 | 1,574 |
| Profit After Tax | 45 | 70 | 72 |
| Total Assets | 1,037 | 1,071 | 1,014 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Investment in YFCPL for part-financing itscapital expenditure requirements in relation to the setting up of the Proposed Facility – 60.40
- 2 Investment in YFCPL for funding its working capital requirements of YFCPL – 37.74
- 3 Funding capital expenditure requirements for expansion of our SI Manufacturing Facility – 91.06
- 4 Funding working capital requirements of our Company – 35.18
- 5 Purchase of plant and machinery for augmenting infrastructure development at our SI Manufacturing Facility – 12.57
- 6 Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company and VLPL – 179.31
- 7 General corporate purposes – 63.73
Company Overview
Incorporated in 1989, Laxmi Organic Industries Ltd is a specialty chemical manufacturer that operates in 2 business segments; Acetyl Intermediates (AI) and Specialty Intermediates (SI). It is the leading manufacturer of ethyl acetate with over 30% market share in the Indian ethyl acetate market and the only manufacturer of diketene derivatives in India.
Its AI segment includes ethyl acetate, acetaldehyde, fuel-grade ethanol, and other proprietary solvents whereas the SI segment includes ketene, diketene derivatives namely esters, acetic anhydride, arylides, amides, and other chemicals. Its products are being used in various industries like pharmaceuticals, agrochemicals, inks & coatings, dyes & pigments, paints, printing & packaging, etc. Alembic Pharmaceuticals Limited, Laurus Labs Limited, Granules India Limited, Hetero Labs Limited, Heubach Colour Private Limited, Hubergroup India Private Limited, Huhtamaki India Limited, Macleods Pharmaceuticals Private Limited, Suven Pharmaceuticals Limited, Colourtex Industries Private Limited, and UPL Limited are some of its customers.
The company has a global footprint with customers in 30 countries including but not restricted to China, Russia, Singapore, UAE, UK, USA, Netherland, etc. Currently, it has 2 manufacturing facilities in Mahad, Maharashtra for the manufacturing of AI and SI products. It is also proposing to set-up a new manufacturing facility at Lote Parshuram, Maharashtra to manufacture four specialty chemicals.
Competitive 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.