Laxmi Organic, MTAR receive SEBI Nod for IPO

The Initial Public Offerings of Laxmi Organic Ltd and MTAR Technologies Ltd have received a green signal from the regulator, SEBI for its fund raise from the public markets.

As per market information, both the IPOs are expected to hit the public markets early March 2021. While the Hyderabad based, leading precision engineering solutions company, MTAR Tech is looking to raise approximately Rs 650 cr, Laxmi Organic - a leading manufacturer of Acetyl Intermediates and Specialty Intermediates and the largest manufacturer and exporter of ethyl acetate from India will be raising a Fresh + OFS aggregate of approximately Rs. 800 cr.

As reported recently by anonymous persons earlier, Fabmohur Advisors backed MTAR Tech, the nuclear, space, defense and clean energy focused company, recently raised Rs 100 cr via a Pre IPO placement to SBI MF and Axis MF at Rs 540 per share which indicates a post money valuation of 1660 cr. Laxmi Organic in its DRHP, also stated that it may do a Pre-IPO round of Rs 200 crs subject to discussion with its lead managers to the issue.

Source : Equity Bulls

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