The IPO was sold in Rs 129-130 price band. At the upper end of this band, the issue was asking for a PE multiple of 49.81 times FY20 earnings. At listing, the company would command a market-cap of Rs 3,428 crore.
Laxmi Organic operates under two verticals, Acetyl Intermediates (AI) and Specialty Intermediates (SI). AI accounts for 59 per cent of total sales, while SI accounts for 32 per cent of total sales. The company is the largest manufacturer of ethyl acetate with over 30 per cent market share in the Indian ethyl acetate market and is the only manufacturer of diketene derivatives in India with a diversified customer base.
The company has planned capacity expansion at the SI division 4.5 ktpa with a cost of Rs 82 crore and the AI division 40 ktpa at a cost of Rs 40 crore, which will be operational by FY22-end.
Investors, who had bid for the issue, can check the allotment status on the BSE website:
- They need to visitHERE
- Under the issue type, click Equity
- Under the issue name, select Laxmi Organic Industries Limited under the dropbox
- Write the application number
- Add the Pan card ID
- Click on ‘I am not a Robot’ and hit search.
You can also check the allotment status of the
online portal of Link Intime India Private, the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
On Link Intime India Private’s
web portal:
- Select IPO in the dropbox, whose name will be populated only if the allotment is finalised
- You may be required to select either one of the three modes: Application number, Client ID or PAN ID
- Enter the details of the mode you selected in Step 2
- Hit submit.
