Laxmi Organic Industries IPO: Date, issue size, Face value, price band, bid lot, all details highlights by GEPL Capital
Laxmi Organic Industries IPO date: Laxmi Organic Industries to issue Equity Shares aggregating upto ₹ 600 Cr (Fresh Issue of Equity shares aggregating upto ₹ 300 Cr and Offer for sale of equity shares aggregating upto ₹ 300 Cr). The Face value of the IPO is Rs 2. The Issue summary Price band is Rs 129 – Rs 130. The Bid Lot is 115 Shares and in multiple thereof.
Laxmi Organic Industries IPO date: Laxmi Organic Industries to issue Equity Shares aggregating upto ₹ 600 Cr (Fresh Issue of Equity shares aggregating upto ₹ 300 Cr and Offer for sale of equity shares aggregating upto ₹ 300 Cr). The Face value of the IPO is Rs 2. The Issue summary Price band is Rs 129 – Rs 130. The Bid Lot is 115 Shares and in multiple thereof. Post Issue Implied Market Cap is Rs 3404 cr – Rs 3428 cr. Book Running lead manager are Axis Capital and DAM Capital and the Registrar is Link Intime India. Issue opens on Monday, 15th Mar’2021 and closes on Wednesday, 17th Mar’2021.
Laxmi Organic Industries was incorporated on May 15, 1989. The company is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost 3 decades of experience in large scale manufacturing of chemicals. Laxmi Organic is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market.
See Zee Business Live TV Streaming Below:
Laxmi Organic Industries products are currently divided into 2 broad categories, namely the Acetyl Intermediates (“AI”) and the Specialty Intermediates (“SI”). The Acetyl Intermediates include ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents, while the Specialty Intermediates comprises of ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Laxmi Organic is the only manufacturer in India of diketene derivatives with a market share of approximately 55 % in terms of revenue in Fiscal 2020.
Laxmi Organic also proposes to diversify into manufacturing of specialty fluorochemicals to which end, they have recently acquired assets including plant & machinery, design and operating paperwork, REACH registrations and patents of Miteni, a manufacturer of organic fluorospecialties and electrochemical fluorination.
Further, post completion of the Yellowstone Chemicals (“YCPL”) Acquisition, their market share in the ethyl acetate market will be further enhanced. Industries Catered - pharma, agrochem, paints & coatings, printing, packaging, dyes & pigments.
Laxmi Organics Industries Valuation & Recommendation:
Laxmi Organics Industries will continue to leverage their know-how in complex chemistries and their experience in engineering to focus on the addition of downstream and value-added products to their product portfolio as well as addition of fluorospecialty products to their portfolio. The offer is priced at an annualized PE of 32x on H1FY21 which is fairly priced as compared with peers. GEPL Capital recommend a SUBSCRIBE rating to the issue.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:26 AM IST