The chemical manufacturer s ₹ 600 crore IPO opened for bidding on March 15 and closed today, March 17, remaining open for subscription for a period of three days. Laxmi Industries fixed the price band at ₹ 129-130 per share. Through its initial public offer, the company expects to raise ₹ 600 crore at the higher end of the price band. The shares of Laxmi Organic Industries may get listed on the bourses on March 25.
Laxmi Organic Industries is the leading manufacturer of ethyl acetate in the country and was incorporated in 1989. The firm is a specialty chemical manufacturer and operates in two major business segments - acetyl intermediates and specialty intermediates. It is the only manufacturer of diketene derivatives in the country and has over 30 per cent market share in the Indian ethyl acetate market.
Laxmi Organic Industries IPO Oversubscribed On First Day Of The Issue Retail investors were seen bidding for the IPO in large numbers as the portion reserved for them was subscribed 1.88 times.
Updated: March 15, 2021 4:27 pm IST
Laxmi Organic Industries share sale via initial public offering (IPO) was oversubscribed on first day of the issue. Laxmi Organic Industries IPO was subscribed 1.8 times till 4:10 pm on the opening day of the issue. Laxmi Organic Industries received over 5.84 crore bids for 3.25 crore shares on the offer, data from the National Stock Exchange showed. The issue received over 4.4 crore bids at the cut off price, according to NSE.