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The Laxmi Organic IPO is open for subscription between March 15 and 17. The price band is Rs 129 to 130 and the market lot is 115 shares.

March 25: Listing Day

  • Laxmi Organic listed at Rs 155.5 per share on the NSE, which is a 19.6% premium.
  • On the BSE, the shares of the company listed at Rs 156.2 per share, a 20% premium.
  • The issue price of Laxmi Organics was Rs 130 per share.

March 17: Day 3

As of 7.00 p.m.

  • The IPO was subscribed 106.79 times so far on day 3 of bidding.
  • Laxmi Organics IPO received bids for 347.67 crore shares against an offer size of 3.25 crore shares.

Subscription Status

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  • Retail investors: 20.06 times the reserved portion
  • Non-institutional investors: 217.62 times the reserved portion
  • Qualified institutional buyers (QIB): 175.43 times the reserved portion

As of 5.20 p.m.

  • The IPO was subscribed 106.76 times so far on day 3 of bidding.
  • Laxmi Organics IPO received bids for 347.57 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 20.0 times the reserved portion
  • Non-institutional investors: 217.62 times the reserved portion
  • Qualified institutional buyers (QIB): 175.43 times the reserved portion

As of 3.58 p.m.

  • The IPO was subscribed 106.29 times so far on day 3 of bidding.
  • Laxmi Organics IPO received bids for 346.06 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 19.4 times the reserved portion
  • Non-institutional investors: 216.85 times the reserved portion
  • Qualified institutional buyers (QIB): 175.43 times the reserved portion

As of 1.20 p.m.

  • The IPO was subscribed 13.53 times so far on day 3 of bidding.
  • Laxmi Organics IPO received bids for 44.06 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 14.05 times the reserved portion
  • Non-institutional investors: 11.20 times the reserved portion
  • Qualified institutional buyers (QIB): 14.38 times the reserved portion

As of 11.00 a.m.

  • The IPO was subscribed 7.89 times so far on day 3 of bidding.
  • Laxmi Organics IPO received bids for 25.68 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 12.01 times the reserved portion
  • Non-institutional investors: 7.18 times the reserved portion
  • Qualified institutional buyers (QIB): 1.21 times the reserved portion

March 16: Day 2

As of 5.00 p.m.

  • The IPO was subscribed 6.05 times on day 2 of bidding.
  • Laxmi Organics IPO received bids for 19.69 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 10.38 times the reserved portion
  • Non-institutional investors: 2.48 times the reserved portion
  • Qualified institutional buyers (QIB): 1.15 times the reserved portion

As of 3.40 p.m.

  • The IPO was subscribed 5.41 times so far on day 2 of bidding.
  • Laxmi Organics IPO received bids for 17.6 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 9.38 times the reserved portion
  • Non-institutional investors: 1.95 times the reserved portion
  • Qualified institutional buyers (QIB): 1.04 times the reserved portion

As of 1.50 p.m.

  • The IPO was subscribed 4.33 times so far on day 2 of bidding.
  • Laxmi Organics IPO received bids for 14.08 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 7.56 times the reserved portion
  • Non-institutional investors: 1.46 times the reserved portion
  • Qualified institutional buyers (QIB): 0.82 times the reserved portion

As of 11.00 a.m.

  • The IPO was subscribed 3.22 times so far on day 2 of bidding.
  • Laxmi Organics IPO received bids for 10.49 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 5.68 times the reserved portion
  • Non-institutional investors: 0.7 times the reserved portion
  • Qualified institutional buyers (QIB): 0.82 times the reserved portion

March 15: Day 1

As of 5.00 p.m.

  • The IPO was subscribed 2.28 times on day 1 of bidding.
  • Laxmi Organics IPO received bids for 7.42 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 4.34 times the reserved portion
  • Non-institutional investors: 0.49 times the reserved portion
  • Qualified institutional buyers (QIB): 0.01 times the reserved portion

As of 3.50 p.m.

  • The IPO was subscribed 1.73 times so far on day 1 of bidding.
  • Laxmi Organics IPO received bids for 5.63 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 3.33 times of the reserved portion
  • Non-institutional investors: 0.31 times of the reserved portion
  • Qualified institutional buyers (QIB): Not bid yet

As of 1.00 p.m.

  • The IPO was subscribed 1.01 times so far on day 1 of bidding.
  • Laxmi Organics IPO received bids for 3.29 crore shares against an offer size of 3.25 crore shares.

Subscription Status

  • Retail investors: 1.96 times of the reserved portion
  • Non-institutional investors: 0.14 times of the reserved portion
  • Qualified institutional buyers (QIB): Not bid yet

March 12: Funds Raised from Anchor Investors

Laxmi Organics Industries raised Rs 180 crores from 15 anchor investors on March 12. The company will be allocating 1.38 crore shares to the anchor investors at Rs 130 per share.

The following anchor investors participated in the bidding round, ahead of the IPO opening up for the public:

  • Nomura India Equity Fund
  • Abu Dhabi Investment Authority
  • Goldman Sachs
  • Kuber India (Plutus)
  • Theleme India Master Fund
  • Malabar India Fund
  • Ashoka India Opportunities Fund
  • India Acorn Fund
  • SBI Mutual Fund
  • ICICI Prudential Mutual Fund
  • Kotak Mutual Fund
  • SBI Life Insurance Co Ltd
  • HDFC Life Insurance Co Ltd
  • DSP Mutual Fund

More About the IPO

The issue size is Rs 600 crores of which Rs 300 crores comprises a fresh issue while the other half is an offer for sale. Around half of the issue is reserved for qualified institutional buyers (QIB), 35% for retail investors and 15% for non-institutional bidders.

About the Company

Laxmi Organic is an Acetyl Intermediates and Specialty Intermediates manufacturer with almost 30 years of experience in chemicals manufacturing. Laxmi Organics is one of the largest manufacturers of ethyl acetate in India with a 30% market share.

Read more on Groww: Laxmi Organic IPO

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