Laxmi Organic Industries IPO
Laxmi Organic Industries Limited (LXCHEM) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 25 March 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +48.7% (likely range +42% to +121%), day's high +66.9%, chance of a gain 92%. Actual: +19.6% at the open, +34.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 93,02,324 | 1,63,19,02,900 | 175x | |
| NII (HNI) total | 69,76,744 | 1,51,82,92,445 | 218x | |
| Retail | 1,62,79,070 | 32,65,46,985 | 20.1x | |
| Total | 3,25,58,138 | 3,47,67,42,330 | 107x |
Bids on NSE and BSE together, as published by NSE, as of 17 Mar 2021, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Laxmi Organic Industries's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Indigo PaintsJan 2021 | 190x | 263x | 15.9x | 117x | ₹1,170 Cr | +75.0% | +110.0% |
| MAS Financial ServicesOct 2017 | 148x | 379x | 16.0x | 128x | ₹464 Cr | +43.8% | +48.5% |
| Indian Railway Catering and Tourism CorporationOct 2019 | 109x | 355x | 14.9x | 112x | ₹1,125 Cr | +95.6% | +132.4% |
| Dixon Technologies (India)Sep 2017 | 135x | 346x | 10.6x | 118x | ₹600 Cr | +54.3% | +71.2% |
| Route MobileSep 2020 | 89.8x | 193x | 12.7x | 73.3x | ₹609 Cr | +104.9% | +110.0% |
| Godrej AgrovetOct 2017 | 151x | 236x | 7.67x | 95.4x | ₹1,180 Cr | +33.8% | +37.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors Limited (formerly known as IDFC Securities Limited) and Axis Capital | 3 | +18.0% | 100% |
Offer documents (NSE)
Frequently asked
What is the Laxmi Organic Industries IPO price band and lot size? ₹129–130 per share, with a lot of 115 shares, so the smallest retail bid is ₹14,950.
How many times has it been subscribed? 107x overall: QIB 175x, NII 218x, retail 20.1x.
How did it list? It opened at ₹156, +19.6% against the issue price of ₹130, and closed its first day +26.5%.
