Laxmi Organic IPO share allotment today: Here's how to check status online

After successfully raising Rs 600 crore from initial public offering (IPO), all eyes are on the share allocation in Laxmi Organic Industries. Laxmi Organic IPO share allotment  will be finalised today, March 23, while the listing on domestic bourses is expected on March 25. Investors can check their allotment status on the Link Intime India website as well as BSE.

Ahead of listing on domestic bourses, Laxmi Organic shares were trading at a premium of Rs 60-63 in grey market. The shares of Laxmi Organic will be listed on BSE and NSE on March 25. According to market analysts, the stock is expected to make a strong debut on stock exchanges.

Here's how to check Laxmi Organic IPO allotment status:

• On Link Intime India's website, the registrar to the IPO    
• Go to the online portal    
• Click on the drop-down menu and select the company name as Laxmi Organic in the drop-down menu of the investor's centre section.    
• Enter your Permanent Account Numbers (PAN) or application number or Client ID.    
• After entering details, investors can click on submit button and view their allotment status.   

On BSE   

• Applicants can also check their IPO allotment status on the BSE website.   
• Select Equity and then from the dropdown, select issue name- Laxmi Organic.    
• Enter your Permanent Account Numbers (PAN) or application number and click Search.   

Laxmi Organic IPO received overwhelming response from investors. The three-day IPO of the speciality chemicals manufacturer, which closed on March 15, was subscribed 106.81 times. The price band was fixed at Rs 129-130 per share. The issue comprises of a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore by promoter Yellow Stone Trust. Ahead of IPO, the company had raised garnered Rs 180 crore from anchor investors.

As per data available with NSE, the company received bids of over 347.75 crore shares against the total issue size of over 3.25 crore shares. The quota for qualified institutional buyers (QIBs) was subscribed 175.43 times, non institutional investors by 217.62 times and retail individual investors by 20 times.

The company intends to use net proceeds from the issue for setting up a manufacturing facility for fluorospecialty chemicals, working capital requirements, purchase of plant and machinery and upgrading existing units. In addition, funds would be used for pre-payment or repayment of all or a portion of certain outstanding, besides general corporate purposes.

The company has a global presence with customers in over 30 countries, including China, the Netherlands, Russia, Singapore, United Arab Emirates, the UK and the US.

DAM Capital Advisors Limited and Axis Capital Limited were the managers to the offer.

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