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Laxmi Organic Industries makes a strong debut in markets, lists at over 20% premium over issue price

Laxmi Organic shares listing: The Laxmi Organic scrip got listed at Rs 156.20 apiece on the BSE, thereby registering a gain of 20.15 per cent from its offer price of Rs 130.

By: Express Web Desk | New Delhi |
March 25, 2021 11:58:42 am
laxmi organix industries, laxmi organic ipoImage source: Laxmi Organic Industries

Laxmi Organic share price: Shares of Laxmi Organic Industries made a strong debut on the stock exchanges today listing at over 20 per cent higher than their issue price.

The scrip got listed at Rs 156.20 apiece on the BSE, thereby registering a gain of 20.15 per cent from its offer price of Rs 130. On the National Stock Exchange (NSE), it opened at Rs 155.50, up 19.62 per cent from the issue price. The stock continued its upward momentum hiting a high Rs 164.60 on BSE and Rs 164.75 on the NSE so far in trade on the first day.

Over 4.21 crore shares of Laxmi Organic Industries were traded on the NSE during so far in the session of trade, while over 35.29 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 600 crore IPO of Laxmi Organic Industries met a robust demand during its offer period from March 15-17. The issue was oversubscribed by 106.81 times.

The qualified institutional buyers (QIBs) category was subscribed 175.43 times, non institutional investors 217.62 times and retail individual investors (RIIs) 20.11 times, data from the NSE showed.

Laxmi Organic Industries is a Mumbai-based speciality chemical manufacturer. The company is focused on two key business segments: Acetyl Intermediates and Speciality Intermediates.

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