Ahead of preliminary public providing, Laxmi Organic Industries has raised Rs 180 crore from anchor buyers
Laxmi Organic Industries’ preliminary public supply (IPO) will open for bidding on March 15. The speciality chemical producer has mounted the value band of its maiden public providing at Rs 129-130 per share. The problem will shut on March 17. The shares are more likely to be listed on the inventory exchanges on March 25.
The IPO contains a recent problem of Rs 300 crore and a proposal on the market of Rs 300 crore by the promoter group, Yellowstone Trust. Investors can place bids for a minimal 115 fairness shares and in multiples of 115 fairness shares thereafter, as much as 13 tons.
Laxmi Organic Industries will utilise the web proceeds from the first market supply to put money into a wholly-owned subsidiary, Yellowstone Fine Chemicals (YFCPL), to arrange a producing facility for fluorospecialty chemical compounds and for working capital necessities.
Ahead of preliminary public providing, Laxmi Organic Industries has raised Rs 180 crore from anchor buyers.
Laxmi Organic Industries is among the many largest producers of ethyl acetate in India, with a market share of roughly 30 per cent of the Indian ethyl acetate market. It has two manufacturing amenities in Mahad, Maharashtra.
Axis Capital and DAM Capital Advisors are the book-running lead managers to the difficulty of Laxmi Organic Industries, whereas Link Intime India is the registrar to the IPO.
