In the coming weeks, the share of Laxmi Organic Industries will be listed. The initial public offering (IPO) received a good response as it was subscribed 106.81 times more than the reserved shares during March 15-17. The company is expected to finalise the share allotment around March 22.
The Rs 600-crore offer comprised a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore by promoter Yellow Stone Trust. The money raised with this IPO will be utilised towards fluoro specialty chemicals facility, a manufacturing facility and the company's working capital requirements.
How to check for allocation:
-Investors can check share allocation on the .
-Select 'equity' in issue type
-Put in issue name
-Enter 'application number' and 'PAN '
-Click on 'search'.
Another website to check allotment status is on the .
-Select the IPO name
-Enter Pan Card Number
-Click on ‘search’
The company opened its IPO for subscription on March 15 and was priced at Rs 129- 130 per share. The company is a leading manufacturer of acetyl intermediates as well as speciality intermediates, and has been in business for over three decades in large scale chemical manufacturing.