The IPO was opened for subscription on 15 March and witnessed a huge response as it was subscribed 106.81 times the offer value
Laxmi Organic is expected to finalise the share allocation in its initial public offering (IPO) on Monday, 22 March. The IPO was opened for subscription on 15 March. The last date for the subscription was 17 March. The listing of the issue is likely to happen on 25 March.
The issue witnessed a huge response from investors as it was subscribed 106.81 times the offer value. 20.10 times subscriptions were made in the retail category followed by 175.43 times in the qualified institutional buyers (QIB) category and 217.62 times in the non-institutional investors (NII) category.
According to reports, the company had pulled Rs 180 crore from anchor investors before the issue opened.
The main objective of the issue is to use the proceedings to invest in a subsidiary firm, Yellowstone Fine Chemicals Private Limited (YFCPL) for financing working capital requirements, to purchase plant and machinery for infrastructure development at SI facility, to make prepayment or repayment of borrowings and to meet general corporate purposes among others.
The registrar of the issue is Link Intime India Private Limited and will manage allocation and refund. Investors can check the share allotment status either on the official website of the registrar or on BSE.
How to check the status on the BSE website:
Step 1: Investors will have to visit the official website of BSE at https://www.bseindia.com/investors/appli_check.aspx to check the allotment status post declaration.
Step 2: Investors will have to select ‘equity’ and then from the dropdown select ‘Laxmi Organic’ option.
Step 3: After that, they will have to enter application number and PAN
Step 4: Lastly, they will have to click on ‘search’.
How to check status on registrar’s website:
Step 1: Go to the official website of the registrar Link Intime India at https://linkintime.co.in/MIPO/Ipoallotment.html to check your application status.
Step 2: Investors will have to click on ‘select company’ and then on ‘Laxmi Organic’, once the allotment is done.
Step 3: Investors will have to provide either their PAN detail, the application number, or the client ID.
Step 4: Next enter the captcha and click on the ‘submit’ button.
Step 5: Once you click on submit, the status of your application will be displayed on the screen.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply