Chemical Manufacturing company Laxmi Organics Industries is launching the initial public offering (IPO) today. The Company is aiming to raise Rs 600 crores through its issue. The IPO would be open for subscriptions from March 15 to March 17, 2021.
The IPO would consist of a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore. The promoter of the company, Yellow Stone Trust would be issuing the offer for sale. The price band for the Laxmi Organics Industries issue has been fixed at Rs 129–130 per share with a face value of Rs 2 for each share. Investors are required to bid a minimum of one lot of the issue.
At the upper price band, the minimum bidding size of the issue would is Rs 14,950. One lot of the issue would constitute 115 shares and lots of the issue can be bid in multiples of 115 shares. The chemicals manufacturer has raised Rs 200 crores through its pre-IPO placement issue and has issued 1,55,03,875 equity shares under the issue.
Before its IPO, Laxmi Organics Industries had raised Rs 180 crore from anchor investors before the issue. The chemicals manufacturer would be allocating 1,38,46,153 shares at Rs 130 to 15 anchor investors.
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