Laxmi Organic Industries Lists At 20% Premium To Issue Price

Laxmi Organic Industries shares listed at a modest premium of 20 per cent on the bourses this morning. The shares started off the day at Rs 156.20, higher by 20 per cent on the BSE compared to the issue price of Rs 130. And on the NSE, the shares listed at Rs 155.50, higher by an equal amount. At 10;15 am, the shares were trading at Rs 152.55,higher by Rs 23 or 17.58 per cent on the BSE and at Rs 152.80, up Rs 22.90 or 17.81 per cent on the NSE.

Laxmi Organic Industries' Rs 600 crore initial public offering (IPO) was subscribed by 106.81 times. The portion reserved for retail investors was subscribed 20.10 times, non-institutional buyers' segment was subscribed 217.62 times and portion reserved for qualified institutional buyers attracted interest to the tune of 175.43 times.

The IPO consisted of a fresh issue amounting to Rs 300 crore and an offer for sale of Rs 300 crore by the promoter group. The shares were offered in the price band of Rs 129-130 per share. Ahead of the IPO, Laxmi Organic Industries raised Rs 200 crore through pre-IPO allotment.