E-Paper
Laxmi Organic IPO share allocation: How to check status
Here's how to check the allotment status of Laxmi Organic IPO
Speciality chemicals manufacturer Laxmi Organic Industries is likely to finalise the allotment status of its ₹600-crore initial public offering (IPO) on Monday. The IPO was subscribed 106.79 times on the last day of subscription which was on Wednesday. The company opened its IPO for subscription on March 15 with the price brand set at ₹129- ₹130 per share. Laxmi Organic, which is a leading manufacturer of acetyl intermediates as well as speciality intermediates, has an experience of more than three decades in large scale chemical manufacturing.
How to check allotment status of the IPO
Step 1: Visit the link- https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select ‘Equity’ in the Issue type column
Step 3: In the ‘Issue Name’, select Laxmi Organic Industries IPO
Step 4: Enter the 'Application Number' and 'PAN'
Step 5: Click on 'Search' and the allotment status can be seen thereafter.
Other details of the IPO
The IPO includes a fresh issue of shares amounting to ₹300 crore and an offer for sale worth ₹300 crore. The company had set a minimum bid lot of 115 equity shares for the IPO after which the investors could bid in multiples of 115, which implies that the minimum application size was ₹14,950.
Proceeds from the IPO which amounts to 16.59 per cent of the company’s paid-up equity, will be used for setting up of a manufacturing facility for fluoro speciality chemicals and for the purchase of plant and machinery with the purpose of infrastructural development, according to a statement by the company. Post the IPO, the company’s promoter holdings stand at 72.92 per cent, which were at 89.51 per cent earlier.
The book leading managers of the IPO were Axis Capital and DAM Capital and the shares are likely to be listed on the NSE and the BSE on March 25.
