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Laxmi Organic shares close with nearly 27% jump in debut trade

It listed at Rs 156.20, a gain of 20.15 percent from the issue price on BSE. During the day, the stock jumped 34.23 percent to Rs 174.50.

March 25, 2021 / 06:32 PM IST
 
 
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Shares of speciality chemicals manufacturer Laxmi Organic Industries Ltd closed with a premium of nearly 27 percent on Thursday as against its issue price of Rs 130.

It listed at Rs 156.20, a gain of 20.15 percent from the issue price on BSE. During the day, the stock jumped 34.23 percent to Rs 174.50.

It closed at Rs 164.60, a gain of 26.61 percent. On NSE, it debuted at Rs 155.50, a jump of 19.61 percent.

Later, it closed at Rs 164.05, a gain of 26.19 percent.

The company’s market valuation was at Rs 4,339.89 crore on BSE.

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Laxmi Organic Industries’ initial public offer was subscribed a whopping 106.79 times earlier this month.

The price range for the offer was fixed at Rs 129-130 per share.

The company has a global presence with customers in over 30 countries, including China, the Netherlands, Russia, Singapore, United Arab Emirates, the UK and the US.

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PTI
first published: Mar 25, 2021 06:32 pm

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