Laxmi Organic IPO Listing Estimate @ Chanakyanipothi.com , … So D Day is March 25th, 2021… the day on which this IPO is getting listed.
D3( 17.03.2021) @ 5.00 pm
QIB: 9302324 Sh :175.43 T
NII: 6976744 Sh: 217.62 T
RII: 16279070 Sh: 19.95 T
Tot: 32558138 Sh: 106.73 T
These clearly indicate exceptionally strong reponse from NII as well as RII investors.Huge oversubscription in NII category increased interest costs and at the same time reduced chances of allotment and the persons who have made advance selling will have to cover the shares on listing.
Small note about the company
The Stock market shows fancy for Speciality chemicals businesses and assigns high valuations. Look at the valuation of PI Industries @ PE Multiple of 69,Navin Fluorine @ PE Multiple of 30.25, Astec Lifesciences @ PE Multiple of 46.43
SRF @ PE Multiple of 30.13 and other such other companies.
Laxmi Organic is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals. Since its inception in 1989, it has been on a journey of transformation. It initially started manufacturing acetaldehyde and acetic acid in 1992, and soon thereafter moved on to manufacturing of ethyl acetate in 1996. It is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market.
Laxmi Organic is the only manufacturer of diketene derivatives in India with a market share of approximately 55 % of the Indian diketene derivatives market in terms of revenue in Fiscal 2020 and one of the largest portfolios of diketene products .
Laxmi Organic IPO allotment Price is Rs. 130
Laxmi Organic IPO Latest GMP #
On 25 March 2021
Grey Market Premium Rs. 70
NII investors’ Cost:
The allotment has been tough .Interest cost to the NII investors is Rs. 38 per share
Laxmi Organic Ltd Financial Details :
Earnings per Share 2017-18 Rs 3.03
Earnings per Share 2018-19 Rs 2.89
Earnings per Share 2019-20 Rs 2.86
Earnings per Share 2020-21,6M Rs 2.02
Book Value of the Share as on 30.09.2020 Rs 20.90
Upper Price Band/Estimate EPS: 32
Laxmi Organic IPO, Estimate of Listing price :
Speciality Chemicals companies enjoy high valuation and yet the IPO is offered at reasonable valuation
Compared to Peer group scrips, the allotment price is at reasonable valuation.
However , last 2 IPOs have shown disappointing listings, the scrip, we believe is expected
1) to get listed at Rs. 195/200 ( if the Sensex on 25th is in Strong Green zone) or
2) to get listed at Rs. 160 ( if the Sensex on 25th is in Strong Red zone)
and during the intraday may show somewhat higher price , may be Rs. 220
One may retain the scrip with long term angle
(Legal Note:We suggest you to consult your financial expert before taking any decision on buying or selling of the scrip on listing. The Price estimate above may go wrong because of many unknown factors.)
To Study Craftsman IPO Listing Estimate @