Stock

Laxmi Organic shares close with nearly 27 per cent jump in debut trade

PTI New Delhi | Updated on March 25, 2021

Shares of speciality chemicals manufacturer Laxmi Organic Industries Ltd closed with a premium of nearly 27 per cent on Thursday as against its issue price of ₹130.

It listed at ₹156.20, a gain of 20.15 per cent from the issue price on BSE. During the day, the stock jumped 34.23 per cent to ₹174.50. It closed at ₹164.60, a gain of 26.61 per cent.

On NSE, it debuted at ₹155.50, a jump of 19.61 per cent. Later, it closed at ₹164.05, a gain of 26.19 per cent.

The company's market valuation was at ₹4,339.89 crore on BSE.

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 ₹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.

Published on March 25, 2021

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