Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Specialty Chemicals Company, Laxmi Organics files for 800 cr IPO

Posted On: 2020-12-15 23:00:19 (Time Zone: Arizona, USA)


Laxmi Organics, a leading manufacturer of Acetyl Intermediates and Specialty Intermediates and the largest manufacturer and exporter of ethyl acetate from India as per the Frost & Sullivan Report, has filed its DRHP to raise approximately 800 cr. The IPO is a fresh issuance aggregating to Rs 500 cr and an Offer for sale of face value of Rs 2 each by the Promoter Selling Shareholder, YellowStone Trust aggregating to Rs. 300 cr.

The Mumbai based speciality chemicals manufacturer which initially started as a manufacturing company for acetaldehyde and acetic acid in 1992 has now transformed itself as the largest manufacturers of ethyl acetate in India. With an enriched experience of three decades in the industry, Laxmi Organics has a diverse product portfolio into varied chemistries in Specialty Intermediates and has an encapsulated market share of approximately 30% of the Indian ethyl acetate market and approximately 55% of the diktene derivatives market. The Company has significantly expanded its scale of operations and has set a global footprint with customers in over 30 countries including China, Netherlands, Russia, Singapore, United Arab Emirates, United Kingdom and United States of America.

Laxmi Organics has been catering to marquee names who have long standing relationships with the company namely Alembic Pharmaceuticals, Dr. Reddy's Laboratories, Hetero Labs, Laurus Labs, Macleods Pharmaceuticals, Mylan Laboratories, Neuland Laboratories, Suven Pharmaceuticals, Granules India, United Phosphorous, Syngenta Asia Pacific and Sudarshan Chemicals.

High growth Industries catering to Pharmaceuticals, Agrochemicals, Dyes & Pigments, Inks & Coatings, Paints Printing & Packaging, Flavors and Fragrances, Adhesives and other Industrial Applications find utilization of the intermediates and ingredients sold by the company. In 2012, International Finance Corporation took a 10.05% equity stake in the company at face value of Rs 10 each which the company bought back in Jan 2020 at an aggregate amount of Rs 820.11 mn.

The net proceeds from the issue will be utilised for funding its capital expenditure planned towards setting up a manufacturing facility for fluorospecialty chemicals, working capital requirements, purchase of plant and machinery, prepayment or repayment of all or a portion of certain outstanding, upgrading existing units besides general corporate purposes.

Axis Capital and DAM Capital Advisors are appointed as the BRLMs to the Issue.

Laxmi Organic's plans to go to market takes steam after the recent success and fundraising mania of specialty chemical companies like Rossari Biotech and Chemcon Specialty Chemicals which were subscribed almost 80 times and 149 times respectively. Investors expect this sector to benefit strongly from geopolitical and trade paradigms shifting and Govt Initiatives propagating Atma Nirbharta.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Indigo Paints Limited, to open its Initial Public Offer on January 20, 2021

Indian Railway Finance Corporation Limited IPO to open on Monday, January 18, 2021

Specialty Chemicals Company Anupam Rasayan files for Rs. 760 Cr IPO

Aerospace, Defense and Clean Energy Ancillary, MTAR Tech files for IPO

Antony Waste Handling Cell Limited raises Rs 89.99 crore from 10 anchor investors

Antony Waste Handling Cell Limited files DRHP with SEBI for IPO

Pharma Excipient Company, Sigachi files for 60 cr IPO

UTI Asset Management Company Limited IPO opens for subscription on 29th September 2020

Mazagon Dock IPO Price Band set at Rs 135-145 per Share, Issue to Open on September 29, 2020

UTI Asset Management Company Limited's IPO of Equity Shares to open on 29th September 2020

Angel Broking Limited IPO to open on 22nd September 2020

Vadodara based Chemcon Speciality Chemicals Limited set to open IPO on September 21, 2020

Warburg Pincus backed CAMS to open IPO on 21 September

Route Mobile's IPO Subscribed 74.13 Times on Day 3

Route Mobile IPO Subscribed 4.21 Times on Day 2

Happiest Minds Technologies Limited IPO receives subscription of 2.87 times on the opening day

Route Mobile Limited IPO price bank fixed as ₹ 345 - ₹ 350

Mindspace Business Parks REIT IPO to open on July 27, 2020

Rossari Biotech Limited IPO subscription on Day 1

Specialty Chemicals Manufacturer, Rossari's IPO to open on July 13, 2020

Home First Finance Company gets SEBI approval to float IPO

Rossari Biotech receives SEBI approval for IPO

Mukesh Trends Lifestyle IPO gets SEBI Nod

Casual Dining Giant, Barbeque Nation refiles for IPO

ICL Organic IPO Oversubscribed by 2.92 Times on Final Day of Bidding

ICL Organic Dairy Product's IPO extended for 3 more days

ICL Organic Dairy Product's IPO opens today

Tranway Technologies IPO oversubscribed by 1.88 times on the final day of bidding

Tranway Technologies' IPO opens today

ESAF Small Finance Bank files DRHP for its IPO

Route Mobile gets SEBI nod for Rs 600 cr IPO

Prince Pipes and Fittings Ltd to list on December 30, 2019

Subscribe to Ujjivan Small Finance Bank IPO - Angel Broking

Ujjivan SFB's IPO to open on Monday, December 02, 2019 with Price Band of Rs 36 - 37 per Equity Share each of Face Value of Rs 10 each

IRCTC shares to list on Monday - October 14, 2019

IRCTC'S IPO to open on Monday, September 30, 2019 with Price Band of Rs. 315 - Rs. 320 per share

Alpahlogic Techsys IPO oversubscribed 1.18 times on the final day of bidding

Alphalogic Techsys IPO receives overwhelming response, oversubscribed on second day of bidding

Start-up IPO Alpahlogic Techsys subscribed 64% On the First day of bidding

India's First Start-up IPO Opens today

Alphalogic Techsys IPO now to open in Aug 26th, 2019

Alphalogic Techsys Limited IPO to open on August 23, 2019

Alphalogic Techsys Limited to be the First Company to be Listed on BSE Startup Platform

Ujjivan Small Finance Bank Ltd files DRHP with SEBI for IPO

Global solar EPC major Sterling and Wilson Solar's Rs 3,125 cr IPO opens on August 6, 2019

Tamil Nadu - based Annai Infra Developers Ltd. gets SEBI approval to float IPO

Maharashtra Finance Minister Unveils DRHP of Alphalogic Techsys Limited for Rolling Out its IPO

K.P.R. Agrochem IPO withdrawn: Angel Broking

Shyam Steel Industries Limited files DRHP for IPO

White Organic Retail Ltd IPO opens on BSE SME platform



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020