Laxmi Natural IPO subscribed 6.05 occasions on Day 2; retail investor portion booked 10.38 occasions
The speciality chemical substances firm, which is planning to boost Rs 600 crore by public problem, has already raised Rs 200 crore in pre-IPO placement problem. The difficulty is priced Rs 129-130 per share
On the second day of bidding, the preliminary public providing (IPO) of Laxmi Natural Industries was subscribed 6.05 occasions. Whereas non-institutional buyers subscribed their portion 2.48 occasions, retail buyers’ portion was subscribed 10.38 occasions. Bids for 19.69 crore fairness shares had been acquired towards the supply dimension of three.25 crore. On day one, the IPO of Laxmi Natural was subscribed 2.28 occasions.
The speciality chemical substances firm, which is planning to boost Rs 600 crore by public problem, has already raised Rs 200 crore in pre-IPO placement problem. The difficulty is priced Rs 129-130 per share.
The IPO — which can shut on 17 March — consists of a contemporary problem of Rs 300 crore in addition to a proposal on the market of Rs 300 crore by promoter YellowStone Belief.
On Friday, the corporate raised Rs 180 crore from 15 anchor buyers. These buyers embrace Theleme India Grasp Fund, Malabar India Fund, Ashoka India Alternatives Fund, India Acorn Fund, SBI MF, ICICI Prudential MF, Nomura India Fairness Fund, Abu Dhabi Funding Authority, Goldman Sachs, Kuber India (Plutus), and Aditya Birla MF.
The minimal bid lot for Laxmi Natural is 115 fairness shares and in multiples of 115 shares thereafter. With this, the minimal software dimension on the increased worth band works touches Rs 14,950.
Established in 1992, Laxmi Natural is the biggest producer of ethyl acetate with over 30 p.c market share within the Indian ethyl acetate market. This share is more likely to enhance submit the completion of the Yellowstone Chemical substances (YCPL) acquisition. It additionally holds a 55 p.c share of the diketene derivatives market.
The share allotment shall be finalised round 22 March. The funds from the Functions Supported by Blocked Quantity (ASBA) account shall be unblocked or refunds shall be supplied round 23 March, says the prospectus.
Allotted shares shall be credited to the Demat accounts of eligible buyers round 24 March and the shares shall be listed on BSE and NSE round 25 March.
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