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Home Latest News

LAXMI ORGANIC Great Listing, Listed at Rs. 155 with 20% Premium

by InvestPolicy
March 25, 2021
in Latest News
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LAXMI ORGANIC Great Listing, Listed at Rs. 155 with 20% Premium
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Laxmi Organic share: Today the primary market is full of action. There are two listings in the stock market today. The stock of Laxmi Organic is listed in the market today. The stock was listed at Rs 155 with a 20 per cent premium on the NSE. On the BSE, it has been listed at a price of Rs 156. Explain that its issue price was 130 rupees.

Laxmi Organic’s IPO was subscribed 106.81 times. The retail investors’ share was subscribed 18.26 times. While the share of non-institutional investors was 125 times. While the quota for qualified institutional buyers was booked at 135.17 per cent.

The IPO of this company, which makes specialty chemicals, opened on March 15 and closed on March 17. The company has raised Rs 600 crore from this issue. In this, 300 million rupees fresh issues have been issued. The remaining 300 crore rupees have been sold by the promoters under the Offer for Sale (OFS).

Laxmi Organic will use the funds raised through fresh issue and pre-IPO placement to invest in its wholly-owned subsidiary, Yellowstone Fine Chemical (YFCPL). Along with this, some part of the fund will be spent to meet the working capital requirements and to expand the SI manufacturing unit.

The company does business in sectors where companies like Aarti Industries, Atul Fine Organic Industries, Naveen Fluorine International, SRF and Rosari Biotech already dominate.

Laxmi Organic is currently the country’s largest manufacturer of ethyl acetate in the market. The company accounts for about 30 per cent of India’s ethyl acetate market. After completing the acquisition of YCPL, the company’s market share will increase further.

It is the only company to manufacture diketene derivatives in India. It has a market share of 55 per cent by revenue in the fiscal year 2020. It has the largest portfolio of Dictane products in India.

The company’s products are used in pharma, agro chemical, dye and pigments, inc, coating, paints, printing, packaging, flavors, fragrances, adhesives and other industrial applications.

For social media updates, we need Facebook (https://www.facebook.com/moneycontrolhindi/) And Twitter (.).

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Tags: Laxmi Organic Industries IPOLaxmi Organic Industries IPO detailsLaxmi Organic Industries IPO newsLaxmi Organic Industries IPO price bandLaxmi Organic Industries IPO subscriptionLaxmi Organic IPOLaxmi Organic IPO newsLaxmi Organic IPO price bandLaxmi Organic IPO subscription
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