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Laxmi Organic Ipo Details, Price, Date, Gmp.

  

Laxmi Organic Industries Ltd. Ipo 
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There are many interesting IPOs which are scheduled to be launched in 2021. One such IPO is the Mtar Technologies Limited IPO that is going to launch on March 3, 2021. To Apply for the IPO's you should must have Demat Account. To open Demat Account Click on ZERODHA & UPSTOX. 
On 16 March 2021:- GMP Rs 90             
        For Past trend ,See bottom of Page.
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Laxmi Organic Industries Ltd. is a specialty chemical manufacturer. Incorporated in year 1989. The Company Deals in 2 Segments. It Is a Leading Manufacturer of Acetyl Intermediates and Specialty Intermediates. The company initially started manufacturing acetaldehyde and acetic acid in 1992, and soon moved on to manufacturing of ethyl acetate in 1996. It is the leading manufacturer of ethyl acetate with over 30% market share in the Indian ethyl acetate market. In FY2010, it commenced manufacturing Specialty Intermediates. The Company currently is the only manufacturer of diketene derivatives in India with a market share of approximately 55 % in India in terms of revenue in FY2020.

 Its Acetyl Intermediates segment includes ethyl acetate, acetaldehyde, fuel-grade ethanol, and other proprietary solvents whereas the Specialty Intermediates segment includes ketene, diketene derivatives namely esters, acetic anhydride, arylides, amides, and other chemicals. Its products are being used in various industries like pharmaceuticals, agrochemicals, inks & coatings, dyes & pigments, paints, printing & packaging, etc. 

Alembic Pharmaceuticals Limited, Laurus Labs Limited, Granules India Limited, Hetero Labs Limited, Heubach Colour Private Limited, Hubergroup India Private Limited, Huhtamaki India Limited, Macleods Pharmaceuticals Private Limited, Suven Pharmaceuticals Limited, Colourtex Industries Private Limited, and UPL Limited are some of its customers.

The company currently has two manufacturing facilities in Mahad, Maharashtra, with one facility dedicated to Acetyl Intermediates and another dedicated to Specialty Intermediates, which are strategically located in proximity to several ports and each other.

Promoters of Laxmi Organic Ltd.

Yellow Stone Trust and Ravi Goenka are the company promoters.

Promoter Holding :-





Objects of the Issue:
  • Investment in YFCPL(Yellowstone Fine Chemicals Private Limited) for part-financing its capital expenditure requirements in relation to the setting up of the Proposed Facility ~Rs.60.40 crores
  • Investment in YFCPL for funding its working capital requirements of YFCPL ~Rs.37.74 crores
  • Funding capital expenditure requirements for expansion of our SI Manufacturing Facility ~Rs.91.06 crores
  • Funding working capital requirements of our Company ~Rs.35.18 crores
  • Purchase of plant and machinery for augmenting infrastructure development at our SI Manufacturing Facility ~Rs.12.56 crores
  • Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company and VLPL ~Rs.179.31 crores
  • General Corporate Expenses

    • Company Financials:-









    Financial Ratios:-
    PE Ratio - 45 base on Eps of FY2020
    RONW - 16.45 base on FY2020
    NAV   - 18.96 FY2020

    Peers :-                                  Industry       PE  35                    
    Aarti Industries    PE  24.92
    Atul                     PE  17.75
    Fine Organic        PE  35.46
    Navin Flourine     PE  14.68
    Rossari Biotech   PE  --
    SRF                    PE  15.70
                                                                        (as per DRHP)


    Strength Of Company:-
    • Leading manufacturer of ethyl acetate in India.
    • one of the Largest manufacturer of diketene derivative products.
    • Diversified customer base across industries.
    • Strategically located manufacturing facilities. This helps in quick exports and imports.

    Weakness Of Company:-
    •  The company has considerable long-term debt of INR90.15 crores. Over the last four years, this has increased at a CAGR of 28.92%.
    • Decreasing Financial Performance
    IPO Details:-


    Portion Offered :
    QIB (50%)  Rs 300 Crs
    NII (15%)  Rs 90 Crs
    RII (35%)  Rs 210 Crs

    IPO Calendar 









    Ipo Registrar:-
    Link Intime India Private Ltd

    Grey Market Premium
    On 11 Mar 2021:- GMP Rs. 78
    On 10 Mar 2021:- GMP Rs. 85-90
    On 9 Mar 2021:- GMP Rs. 90-95
    On 8 Mar 2021:- GMP Rs. 100-110

    Check Allotment Status Here
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