Laxmi Organics Industries Limited is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost 3 decades of experience in large scale manufacturing of chemicals. Acetyls are used as intermediates in a wide range of applications such as solvents, adhesives, water-based paints, pharmaceuticals, dyestuff, emulsifiers etc. Laxmi Organic is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market. It 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.

Craftsman Automation IPO

Wants To Apply Online



Issue Details

Objects of the issue
  • Investment in the wholly owned Subsidiary, Yellowstone Fine Chemicals Pvt. Ltd for part-financing its capital expenditure requirements in relation to the setting up of the Proposed Facility
  • Investment in YFCPL for funding its working capital requirements of YFCPL
  • Funding capital expenditure requirements for expansion of our SI Manufacturing Facility, Funding working capital requirements of Company
  • Purchase of plant and machinery for augmenting infrastructure development at our SI Manufacturing Facility
  • Prepayment or repayment of all or a portion of certain outstanding borrowings availed by Company and VLPL
Issue Size Total issue Size -Rs. 600Cr.

Fresh Issue – Rs 300  Cr.

Offer for Sale – Rs. 300 Cr.

Face value  

Rs.2 Per Equity Share

Issue Price Rs. 129 – Rs. 130
Bid Lot 115 shares
Listing at  


Issue Opens: 15th March, 2021 – 17th  March, 2021
QIB 50% of Net Issue Offer
Retail 35% of Net Issue Offer
NIB 15% of Net Issue Offer

Financial Performance:


Shareholding Pattern:

Shareholding Pattern Pre- Issue Post Issue
Promoters & PG 89.51% 72.92%
Public 10.49% 27.08%

Source: RHP, EWL Research, The Economic Times



Check Laxmi Organic Industries Limited IPO Allotment Status

Laxmi Organic Industries Limited IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

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  2. Go to Application Status
  3. Select IPO as Craftsman Automation
  4. Enter your PAN Number or Application Id or DP Client Id.


Laxmi Organic Industries Limited IPO

Application Form


  • Leading manufacturer of ethyl acetate in India.
  • Largest manufacturer of diketene derivative products.
  • Diversified customer base across industries.
  • Strategically located manufacturing facilities.

Key Highlights:

  • Revenue from operations has grown at a CAGR of 4.9% during FY18-FY20.
  • Net profit dropped by 3.6 per cent to Rs 70.2 crore between FY18 and FY20.
    Margins of the company declined from 5.43% in FY18 to 4.58% in FY20.
  • Acetyl Intermediates contributed 55.37% of total revenue from sale of manufactured products and services, on a standalone basis during H1FY21.
  • Pharmaceutical sector contributes 33.98% to the total revenue of the firm.
  • Revenue from exports of manufactured products contributed 23.17%, of revenue on standalone basis during H1FY21.

Risk Factors:

  • A large part of manufacturing facilities are located in one geographic area and therefore any natural disaster could have material adverse effect on our business and financial condition.
  • There are outstanding legal proceedings involving Company, Promoters and Directors of the company. Failure to defend these proceedings successfully may have an adverse effect on business prospects of the company.
  • India is highly import dependent on acetic acid, one of the raw materials for ethyl acetate constitutes around 46-52 per cent of the total expenses.


Laxmi Organic is the largest manufacturer of acetyl intermediaries and diketene derivatives in India with a market share of 30 per cent and 55 per cent respectively. The company caters to customers such as Dr Reddy’s Laboratories, Hetero Lab, and Laurus Labs in the pharma sector, UPL and Syngenta Syngenta in agrochemicals and Huhtamaki in Packaging. The pharma and packaging customers contribute two-third to the revenue of the company. The export forms nearly quarter of the revenue. The company’s capacity of speciality chemicals will increase to 82,525 metric tonnes per annum (MTPA) by November 2021 from the current 78,045 MTPA. The utilization of the speciality chemical plant rose to 67 per cent in December 2020 compared with 41 per cent in April 2020.It has also entered the fluoro speciality chemicals business through the acquisition of assets of Italy’s Miteni. Commercial production from the new fluoro chemical plant is expected to start from March 2022, At the higher end of the price band of Rs. 130, the stock is offered  at a PE multiple of 35.9x on FY21E annualised Post issue EPS of Rs. 3.96 which is line with industry. We would recommend Subscribe to this  IPO considering valuation and future prospects of the company.

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