INSUBCONTINENT EXCLUSIVE:
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
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.
