Laxmi Organic Industries IPO Allotment Date, Status Check Online: Speciality chemicals manufacturer Laxmi Organic Industries' initial public offer was subscribed a whopping 106.79 times on the last day of subscription on Wednesday, largely driven by huge interest from institutional investors.

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Laxmi Organic Industries IPO Allotment Status is likely to be finalised on 22nd March 2021.

Laxmi Organic Industries IPO: Subscription status and other details

-The public offer garnered bids for 3,47,67,42,330 shares against 3,25,58,138 shares on offer, as per NSE data.

-The portion for qualified institutional buyers (QIBs) was subscribed 175.43 times, non institutional investors 217.62 times and retail individual investors (RIIs) 20.06 times.

-The initial public offer aggregating up to Rs 600 crore comprised a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore.

-The price range was fixed at Rs 129-130 per share.

- Laxmi Organic Industries had garnered Rs 180 crore from anchor investors on Friday.

- Net proceeds from the issue will be utilised for setting up a manufacturing facility for fluorospecialty chemicals, working capital requirements, purchase of plant and machinery and upgrading existing units.

- In addition, funds would be used for pre-payment or repayment of all or a portion of certain outstanding, besides general corporate purposes.
- Laxmi Organic Industries has a global presence with customers in over 30 countries, including China, the Netherlands, Russia, Singapore, United Arab Emirates, the UK and the US.

-DAM Capital Advisors Limited and Axis Capital Limited were the managers to Laxmi Organic Industries IPO.