New Delhi. Now you guys are going to have a great chance to earn in a few days. The IPO of Lakshmi Organics will open on 15 March. In which you can explore the possibilities of earning a lot by investing by 17 March. The price band for this IPO has also been decided. According to the information, fresh shares worth Rs 300 crore will be floated for this IPO. At the same time, 300 million shares will be sold by promoters Yellow Stone Trust through Offer for Sale.
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Highlights of IPO
– The price band for the IPO has been fixed at Rs 129-130.
The lot size of the IPO is 115 shares.
– Meaning the investor will be required to invest Rs 14950 in the IPO at the rate of 130 rupees.
After pre-IPO placement, the issue size of the company decreased from Rs 800 crore to Rs 600 crore.
– The company has already raised 200 crores rupees through pre-IPO placement.
– Fresh issue size reduced from Rs 500 crores to Rs 300 crores.
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Use of funds in Yellowstone Fine Chemical
The company will use the funds raised through an IPO in Yellowstone Fine Chemical, an associate unit. Apart from this, the company will also invest some part of the fund in working capital and manufacturing. Let us tell you that Lakshmi Organics is one of the largest manufacturing companies in the country in the ethyl acetate market. The company accounts for around 30 per cent of India’s ethyl acetate market. The market share of the company will increase further after the acquisition of YCPL. It is the only company in India to manufacture Dictane derivatives. The company is spread over 30 countries such as China, Netherlands, Russia, Singapore, United Arab Emirates, UK and USA.