Laxmi Organic Ltd IPO Offer Details or Issue Details
| Issue Open Date | – |
| Issue Close Date | – |
| Basis of Allotment Date | NA |
| Initiation of Refunds | NA |
| Credit of Shares to Demat Account | NA |
| IPO Listing Date | NA |
| Issue Size (Rs cr) | – Eq Shares of Rs.- (aggregating up to Rs.- Cr) |
| Issue Price | Rs.- to Rs.- Per Equity Share |
| Listing on | BSE, NSE |
| Issue Type | Book Built Issue IPO |
Laxmi Organics Industries Ltd. is the flagship company of the Goenka Group. The Group has interests in Chemicals, Paper, power and Education. Laxmi Organic Industries was born in 1990, with the objective to manufacture alcohol-based chemicals. The first plant was set up to manufacture Acetaldehyde and Acetic acid with the primary raw material being Ethyl alcohol.
This was procured from the local sugar factories in India. Subsequently, Laxmi expanded over the years in terms of volume of production as well as its product portfolio. Today, Laxmi is among India’s largest players in the Acetyls space with the capacity to produce 120,000 tons of Ethyl Acetate annually. We also have the capacity to produce 30,000 tons per year of Acetaldehyde.
Since 2010, after the successful acquisition of Clariant India’s Diketene business, we are proud to be the only producers of this chemistry in India. These speciality chemicals cater to the pharmaceutical, agrochemical and colourant industry. Laxmi also offers CRAM opportunities based on our Diketene and Ketene chemistry. Laxmi has its direct presence in Europe with its office in the Netherlands.
Laxmi Organic Promoters:
The Promoters of Company are:
- Ravi Goenka
- Yellow Stone Trust
As Draft Red Herring Prospectus, Promoters hold 200,186,030 Equity Shares in aggregate, representing 88.94% of the issued, subscribed and paid-up Equity Share capital of Company.
Laxmi Organic Financials: (₹ in lakh)
| 30-Sep-20 (six-month) | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 10,371.32 | 10,706.33 | 10,144.88 | 8,947.34 |
| Total liabilities | 10,371.32 | 10,706.3 | 10,144.8 | 8,947.34 |
| Total Revenue | 8,143.55 | 15,386.2 | 15,743.2 | 13,960.7 |
| Profit After Tax | (454.84) | (702.12) | (723.91) | (756.95) |
Objects of the Issue:
The net proceeds from the IPO will be used towards the following purposes;
- Investment in Subsidiary, Yellowstone Fine Chemicals Private Limited for funding its working capital requirements
- purchase of plant and machinery and upgrading existing units
- General corporate purposes
Laxmi Organic Contact Information
| REGISTERED OFFICE |
|---|
| Laxmi Organic Industries Ltd.A-22/2/3, MIDC Mahad Raigad 402309 India +91-22-49104444 [email protected] |
| CORPORATE OFFICE – INDIA |
|---|
| Laxmi Organic Industries Ltd.Chandermukhi Building, 2nd and 3rd Floor, Nariman Point, Mumbai 400021 India +91-22-49104444 |