Laxmi Organic IPO: Here's how to check share allotment
At listing, the company would command a market-cap of Rs 3,428 crore.
By ETMarkets.com | Updated:
ETAuto
The IPO was sold in Rs 129-130 price band.
NEW DELHI: Industrial chemicals manufacturer Laxmi Organic, whose Rs 600 crore initial public offering (IPO) was sold between March 15 and 17, will finalise share allotment on Monday. The IPO was a hit among investors, as it received 106.81 times subscription during the offer period. The HNI quota was subscribed 217.62 times, followed by the quota for qualified institutional bidders (QIB) at 175.43 times and retail quota at 20.10 times.
The IPO was sold in Rs 129-130 price band. At the upper end of this band, the issue was asking for a PE multiple of 49.81 times FY20 earnings. At listing, the company would command a market-cap of Rs 3,428 crore.
Laxmi Organic operates under two verticals, Acetyl Intermediates (AI) and Specialty Intermediates (SI). AI accounts for 59 per cent of total sales, while SI accounts for 32 per cent of total sales. The company is the largest manufacturer of ethyl acetate with over 30 per cent market share in the Indian ethyl acetate market and is the only manufacturer of diketene derivatives in India with a diversified customer base.
The company has planned capacity expansion at the SI division 4.5 ktpa with a cost of Rs 82 crore and the AI division 40 ktpa at a cost of Rs 40 crore, which will be operational by FY22-end.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
Under the issue name, select Laxmi Organic Industries Limited under the dropbox
Write the application number
Add the Pan card ID
Click on 'I am not a Robot' and hit search.
10 stocks that analysts recommend for handsome returns in the near term
1/11
Amid uncertainties on Dalal Street triggered by rising bond yields and increasing Covid-19 cases, the focus will remain on stock-specific action. Here are a few stocks that analysts say can help investors earn significant returns in the next few weeks:
Amid uncertainties on Dalal Street triggered by rising bond yields and increasing Covid-19 cases, the focus will remain on stock-specific action. Here are a few stocks that analysts say can help inve..
Read More
The stock has corrected more than 8 per cent from its all-time high registered last week. Currently, it is trading near its 20-day simple moving average, trading near an important retracement level on the weekly chart, indicating high chances of a trend reversal in the short term. In addition, on the weekly and monthly charts, the stock has maintained a higher bottom series pattern, which has helped positional traders take a positive stance near the crucial support zone.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
The stock has corrected more than 8 per cent from its all-time high registered last week. Currently, it is trading near its 20-day simple moving average, trading near an important retracement level o..
Read More
The stock is hovering in the range of Rs 320-360 after a sharp correction. However, the medium-term wave structure of Bandhan Bank is still on the positive side. Hence, an ideal strategy should be to add this stock near its support levels. Moreover, it has taken strong support near a 200-day simple moving average along with modest volume activity. A strong bullish candle on the daily chart indicates high chances of a fresh uptrend from current levels.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
The stock is hovering in the range of Rs 320-360 after a sharp correction. However, the medium-term wave structure of Bandhan Bank is still on the positive side. Hence, an ideal strategy should be to..
Read More
The stock has registered a sharp surge in the recent past, but it has failed to sustain higher levels after the Rs 955 breakout and corrected nearly 10 per cent due to consistent selling pressure. However, the medium-term structure of the stock is still on the positive side, and likely to continue in the near term. In addition, on the weekly charts, the stock is still maintaining a higher bottom series formation, which is broadly positive. Currently, the stock is trading near an important retracement support level, and the structure of the charts suggests high chances of a fresh uptrend wave from current levels.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
The stock has registered a sharp surge in the recent past, but it has failed to sustain higher levels after the Rs 955 breakout and corrected nearly 10 per cent due to consistent selling pressure. Ho..
Read More
The stock has broken out on the daily chart with higher volumes, where it closed at an all-time high. Oscillators like RSI and MFI are showing strength, and the directional indicator is placed above the minus side while ADX is placed above 20, indicating momentum in the current uptrend. Technology as a sector is looking good on the chart from the short- to medium-term perspective. Buying is recommended at the CMP of Rs 1,942 for a target of Rs 2,100 with a stop loss at Rs 1,860.
(Analyst: Nandish Shah, Technical Research Analyst, HDFC Securities)
The stock has broken out on the daily chart with higher volumes, where it closed at an all-time high. Oscillators like RSI and MFI are showing strength, and the directional indicator is placed above ..
Read More
The stock has broken out on the daily chart to close at its highest level since April 2019. The short-term trend is positive where it is trading above its five- and 20-day exponendial moving averages. Also, the directional indicator is placed above the minus side while ADX is placed above 20, indicating momentum in the current uptrend. Volumes have been higher on the up days in comparison to down days in the last few weeks, indicating accumulation in the stock. The stock is forming a higher top-higher bottom formation on the daily chart. Buying Godrej Ind is recommended at the CMP of Rs 517 for a target of Rs 570 with a stop loss at Rs 485.
(Analyst: Nandish Shah, Technical Research Analyst, HDFC Securities)
The stock has broken out on the daily chart to close at its highest level since April 2019. The short-term trend is positive where it is trading above its five- and 20-day exponendial moving averages..
Read More
The stock started its recent upmove from the Rs 881.5 mark, and made a high of Rs 1,460 in January 2021. Since then, profit-booking has followed, with the stock making a series of higher bottoms starting at Rs 1,065. The stock recently gave a pattern breakout backed by supportive volumes, and made a high of Rs 1,318, and is trading above all averages that are in a rising trend. Observing the trend, the stock has a potential to test the levels of Rs 1,800, and then Rs 2,000 and Rs 2,200 in the coming days. Any corrections during this period can be used to add the stock, with a stop loss at Rs 1,060.
The stock started its recent upmove from the Rs 881.5 mark, and made a high of Rs 1,460 in January 2021. Since then, profit-booking has followed, with the stock making a series of higher bottoms star..
Read More
The stock started its upmove from the Rs 862 level, which was followed by steady buying to take it to a high of Rs 1,259 in February. A couple of up-gaps were formed in the upmove, suggesting good buying strength, with the 200-day moving average continuously rising since December. The super trend indicator is continuously in a positive mode. Recently, the stock gave a weekly breakout from a range to make a high of Rs 1,415, and is trading above all averages which are are in a rising trend mode. The stock appears to have the potential to test the Rs 1,700 level, followed by Rs 1,900 and then Rs 2,100, in the coming days. Any corrections can be used to add the stock during this period, with a stop loss at Rs 1,100.
The stock started its upmove from the Rs 862 level, which was followed by steady buying to take it to a high of Rs 1,259 in February. A couple of up-gaps were formed in the upmove, suggesting good bu..
Read More
Overall, the entire PSU space has been buzzing for the past three months, within which, the marquee OMC counter has been in a limelight every now and then. On the price front, the stock seems to have a sturdy structure on the weekly chart, and the recent correction appears to have completed on the lower degree chart. The stock managed to find support at the previous multiple resistance zone around Rs 424, which coincides with the 89-day exponential moving average, which indicates that the stock can resume its upward trend. Going long on dips is recommended for a target of Rs 448 in the coming days, with a strict stop loss at Rs 418.
(Analyst: Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking)
Overall, the entire PSU space has been buzzing for the past three months, within which, the marquee OMC counter has been in a limelight every now and then. On the price front, the stock seems to have..
Read More
The pharmaceuticals universe has been quiet for the last couple of months, with many stocks having undergone decent price- and time-wise corrections. The stock saw a correction of nearly 20 per cent from its recent highs, and is seen rebounding precisely after sliding a tad below its 200-day simple moving average on the daily chart. The stock has closed above this key moving average. The candle resembles a bullish hammer pattern, with the possibility of some relief. Going long on the stock is recommended on declines around Rs 418 for a target of Rs 445 in the coming days, with a strict stop loss at Rs 407.
(Analyst: Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking)
The pharmaceuticals universe has been quiet for the last couple of months, with many stocks having undergone decent price- and time-wise corrections. The stock saw a correction of nearly 20 per cent ..
You can also check the allotment status of the online portal of Link Intime India Private, the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
ADVERTISEMENT
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
