Laxmi Organic IPO allotment live – how to check allotment, listing date and more

• The basis of allotment for the ₹600 crore IPO of Laxmi Organics will be announced today on March 22.
• Laxmi Organic is one of the largest manufacturers of ethyl acetate in India with a market share of 30%.
• Here is how to check Laxmi Organic’s IPO allotment status on the registrar website and stock exchanges.
  

The speciality chemicals manufacturer Laxmi Organic is the talk of the town with its ₹600 crore initial public offering (IPO) seeing subscription 106.81 times the offer value — most of which was driven by institutional investors. The allotment of shares is being finalised today, on March 22, which is likely to be followed by the company’s listing on March 25.

Laxmi Organic IPO	Qualified Institutional Buyer	Non-institutional Investor	Retail Individual Investor	Total
No. of times issue subscribed	175.43 times	217.62 times	20.10 times	106.81 times

The rally behind Laxmi Organic’s IPO stems from its dominance in the market. Founded in 1989, it has over three decades of experience in large scale manufacturing of chemicals. And, it has a market share of 30% in the Indian ethyl acetate market.

For those unfamiliar with the world of chemicals, ethyl acetate is colourless liquid commonly used in glues, nail polish removers, and in the decaffeination process of tea and coffee.

It's also the only player in the country to make diketene derivatives. This is used in the making of paper, pharmaceuticals — which are currently hot due to demand for vaccines and the impetus by the Indian government on the healthcare sector — insecticides and dyes.

Laxmi Organic’s IPO comprises fresh issuance of shares of up to ₹300 crore and an offer for sale (OFS) of up to ₹300 crore by the promoter group, Yellowstone Trust. The OFS is likely to further increase the chemical manufacturing major’s market share in India.

Before opening the IPO to the market, the company pulled in ₹180 crore from anchor investors. The money will go towards Laxmi Organic’s working capital requirements and upgradation of existing units. Moreover, the company also plans on using the new capital to set up a manufacturing facility for fluoro speciality chemicals.

However, after this stellar response that Laxmi Organic IPO has garnered, one thing is certain — not all investors will get the same amount of shares that they had subscribed for.

Here is how to check Laxmi Organic IPO allotment status:
If you subscribed to the Laxmi Organic IPO, you could check your allotment status by following these simple steps.

To check on the stock-exchange website:

• To check Laxmi Organic IPO allotment status, go to the BSE website or NSE website here.
• On BSE, Select 'Equity' and then from the dropdown, select 'Laxmi Organic'.
• Now, enter your application number and PAN.
• Click on 'Search'.
  

Please note the details will only be available once the shares are allotted.

You can also visit the registrar website (Link Intime India) to check your application status.

• Visit the registrar's website here.
• Click on 'Select company' and click on 'Laxmi Organic'. It will only appear post allotment on March 22.
• Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
• Enter the captcha and click 'submit'.

Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you.

SEE ALSO:
The biggest asteroid of 2021 is going to zoom past Earth tonight flying as fast as 100,000 kmph

Accenture announces one-time bonus for all employees as the tech giant sees robust revenue growth

It took over a decade and 1,000 hours of photography to create this picture of the Milky Way