Laxmi Organic Industries IPO subscribed 106.71 times on last day; allotment status to be finalised on 22 March

Laxmi Organic Industries, which is a speciality chemicals manufacturer, opened its initial public offer (IPO) on 15 March, Monday, and will conclude it today (17 March). On the third and final day of the bidding process, the Laxmi Organic IPO was subscribed 106.71 times.

For the retail investors' category, 19.90 times subscription has been made followed by 175.43 times in the qualified institutional buyers (QIB) category and 217.62 times in the non-institutional investors' (NII) category till 04:38 pm.

On day two the issue was subscribed 6.05 times while on day one 2.28 times subscription was made.

A fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore comprises the public offering aggregating up to Rs 600 crore. Rs 129 to Rs 130 per share has been fixed as the price band of the IPO with a lot size of 115 shares.

The net proceeds from the issue will be used for setting up a manufacturing facility for floor speciality chemicals, working capital requirements, purchase of plant and machinery and upgradation of existing units, prepayment or repayment of all or a portion of certain outstanding and general corporate purposes.

The registrar of the IPO is Link Intime India Private while Axis Capital and DAM Capital Advisors are the lead managers to the issue. According to the information available, the allotment of shares of Laxmi Organic is likely to be finalised on 22 March, 2021, while the listing may happen on 25 March.

Investors who want to check the allotment status can do so on the official website of the registrar of the IPO and BSE by following the below-mentioned process after it is finalised:

Steps to check allotment status via registrar's website:

Step 1: Investors are required to visit the official website of the registrar that is Link Intime India Private at https://www.linkintime.co.in/.

Step 2: Select Laxmi Organics IPO from the drop-down.

Step 3: You will then have to enter your PAN number/ application number/ DP client ID.

Step 4: Then fill in the Captcha and click on the submit button.

Step 5: You will get the allotment status displayed on the screen.

Steps to check allotment status via BSE

Step 1: Visit the official website of BSE or click on the link- https://www.bseindia.com/investors/appli_check.aspx

Step 2: Select the equity option from the homepage.

Step 3: Click on the drop-down and select the issue name that is Laxmi Organic Industries IPO.

Step 4: You will then have to enter the application number and PAN details.

Step 5: Click on the search button to check the IPO allotment status.