Lakshmi Organic IPO: Laxmi Organic is among biggest producers of ethyl acetate in IndiaLaxmi Organic Industries shares noted at a modest premium of 20 per cent on the bourses this morning.
The shares started the day at Rs 156.20, greater by 20 per cent on the BSE compared to the problem cost of Rs 130.
And on the NSE, the shares listed at Rs 155.50, greater by an equal amount.
At 10; 15 am, the shares were trading at Rs 152.55, greater by Rs 23 or 17.58 percent 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 part reserved for retail financiers was subscribed 20.10 times, non-institutional buyers' sector was subscribed 217.62 times and portion scheduled for qualified institutional purchasers brought in interest to the tune of 175.43 times.The IPO included a fresh issue amounting to Rs 300 crore and an offer for sale of Rs 300 crore by the promoter group.
The shares were provided 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.Laxmi Organic Industries was incorporated in the year 1989.
It counts among the biggest makers of ethyl acetate in India, with 2 making facilities at Mahad in Maharashtra.Axis Capital and DAM Capital Advisors are the book-running lead managers, while Link Intime India is registrar to the issue.Among other IPOs today, Anupam Rasayan made a warm launching on Wednesday, listing at a discount of 3 percent on the BSE and Rs 6.3 percent on the NSE.
And Bbq Nation Hospitality is open for bidding at the minute.