The shares of the speciality chemical producer are prone to be listed on March 25
Laxmi Organic Industries’ Rs 600 crore preliminary public providing (IPO) will open for bidding in the present day and can shut on March 17. The firm has mounted the worth band at Rs 129-130 per share and expects to lift Rs 600 crore on the larger finish of the worth band. The shares of the speciality chemical producer are prone to be listed on the bourses on March 25.
Laxmi Organic Industries’ major market providing includes a contemporary concern of Rs 300 crore and a suggestion on the market of Rs 300 crore by the promoter group, Yellowstone Trust. Bids may be positioned for a minimal 115 fairness shares and in multiples of 115 fairness shares, extending as much as 13 heaps.
Ahead of the IPO, Laxmi Organic Industries raised Rs 200 crore by way of pre-IPO allotment to 6 entities.
Laxmi Organic Industries will use the web IPO proceeds to put money into a wholly-owned subsidiary, Yellowstone Fine Chemicals (YFCPL), to fund capital expenditure wants for growth of its specialty intermediates manufacturing facility and for working capital necessities.
Laxmi Organic Industries is among the many largest producers of ethyl acetate in India. It has two manufacturing amenities in Mahad, Maharashtra and accounts for 30 per cent of the ethyl acetate market within the nation.
Axis Capital and DAM Capital Advisors are the book-running lead managers to the problem of Laxmi Organic Industries. Link Intime India is the registrar to the IPO.
Kalyan Jewellers, Nazara Technologies and Survoday Small Finance Bank are the opposite IPOs to hit the first markets this week.
