All eyes are on the specialty chemicals maker Laxmi Organic Industries, as the company with its initial Rs 600 crore Initial Public Offering (IPO) saw its subscription 108.61 times the offer value and also received a huge response from institutional investors.
The IPO is scheduled to be listed on March 25. It opened for subscription on March 15 and closed on March 17. The Rs 600 crore Laxmi Organics IPO consists of a fresh issue of Rs 300 crore and the rest of Rs 300 crore through an offer for sale by the promoter of the company, Yellowstone Trust.
Link Intime India Private has been appointed as the registrar of the issue and will manage allocation and refund, while Axis Capital and DAM Capital Advisors are the lead managers to the issue. According to the Mint report, the IPO of specialty chemicals manufacturer was subscribed nearly 107 times, and grey market observers Laxmi Organic shares were trading at a premium of Rs 63.
Allotment of shares of IPO is likely to be finalized today (March 22), while the listing is scheduled for Thursday, March 25. Once the finalization process is completed, investors can check their application status on Link Intime India’s official website and on BSE by following the step mentioned below:
How to check allotment status via registrar’s website:
Step 1: Visit the official website of the registrar – Link Intime India Private athttps://www.linkintime.co.in/
Step 2: Click on ‘Select company’ and select Laxmi Organics IPO from the drop-down list(Please note it will only appear after allotment on March 22)
Step 3: Investors have to enter PAN number/ application number/ DP client ID
Step 4: Enter the captcha and click ‘submit’
Step 5: You will get the allotment status displayed on the screen
How to check allotment status via BSE:
Step 1: Open a browser and type this address,https://www.bseindia.com/investors/appli_check.aspx
Step 2: In the ‘Issue Type’ field select ‘Equity’
Step 3: Under the ‘Issue Name’ drop down menu select ‘Laxmi Organic’
Step 4: Enter the ‘Application Number’ and PAN details
Step 5: Click on the search button to view the status details
Laxmi Organic’s IPO stems from their commanding position in the market. The company was founded in 1989 and it has over three decades of experience in large scale manufacturing of chemicals. It also has a market share of 30 percent in the country’s ethyl acetate market.
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