Laxmi Organic Industries IPO subscribed nearly 107 times, Retail Portion subscribed over 20 times

Laxmi Organic IPO subscribed 106.81 times. The public issue subscribed 20.10 times in the retail category, 175.43 times in QIB, and 217.62 times in the NII category by Mar 17, 2021. Many analysts are expecting a strong listing of this IPO. Retail Investors would be glad to receive the allotment. According to brokerages, allotment of shares of Laxmi Organic is likely to be finalised on March 22 while the listing is likely on March 25.

Laxmi Organic Industries to issue Equity Shares aggregating upto Rs 600 Cr (Fresh Issue of Equity shares aggregating upto Rs 300 Cr and Offer for sale of equity shares aggregating upto ₹ 300 Cr). The Face value of the IPO is Rs 2. The Issue summary Price band is Rs 129 – Rs 130. The Bid Lot is 115 Shares and in multiple thereof.  Post Issue Implied Market Cap is Rs 3404 cr – Rs 3428 cr. Book Running lead managers are Axis Capital and DAM Capital and the Registrar is Link Intime India. Issue opens on Monday, 15th Mar’2021 and closes on Wednesday, 17th Mar’2021.
 

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Laxmi Organics Industries Valuation & Recommendation:

Laxmi Organics Industries will continue to leverage their know-how in complex chemistries and their experience in engineering to focus on the addition of downstream and value-added products to their product portfolio as well as addition of fluorospecialty products to their portfolio. The offer is priced at an annualized PE of 32x on H1FY21 which is fairly priced as compared with peers.