Laxmi Organic Industries Ltd

Laxmi Organic lists with 20% premium over issue price; gains amid tepid market

Mumbai, March 25, 2021: Laxmi Organic Industries Ltd the only manufacturer of diketene derivatives in India with a diversified customer base and one of the largest manufacturers of ethyl acetate in India; listed on the NSE at 155.50, 20% premium over its issue price. The scrip got listed at BSE at Rs. 156.20 per share, a 20.15% per cent premium over its issue price of Rs 130.  The shares of the company at day end closed at Rs. 164.30 per share on BSE and Rs. 164.05 per share on NSE. The initial public offering was offered at a lower price band of Rs 129 per share and higher price band of Rs 130.

(Photo Caption: (L-R): Mr. Harshvardhan Goenka, Executive Director - Strategy & Business Development, Laxmi Organic Industries Ltd & Mr. Ravi Goenka, CMD of Laxmi Organic Industries Ltd. at the Listing Ceremony today at NSE, Mumbai )

As per BSE, the total quantity traded stood at 52.34 lac shares with a delivery quantity percentage of 34.40%. Quantity traded and delivery percentage at NSE was approx. 6.38 crore shares and 35.02% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1182.44 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 4339.84 crore as per BSE and Rs. 4325.38 crore as per NSE.

The Rs 600 crore IPO, which was opened from March 15 to 17, had received 44.06 times bids, with the HNI quota (NII) receiving 217.62 times subscription, the QIB quota 175.43 times and the retail quota 19.95 times.

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