Laxmi Organic Industries zooms on raising Rs 259.12 crore
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Laxmi Organic Industries is currently trading at Rs. 298.70, up by 27.55 points or 10.16% from its previous closing of Rs. 271.15 on the BSE.
The scrip opened at Rs. 274.50 and has touched a high and low of Rs. 305.90 and Rs. 274.50 respectively. So far 516674 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 340.70 on 11-Oct-2022 and a 52 week low of Rs. 220.70 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 305.90 and Rs. 269.25 respectively. The current market cap of the company is Rs. 7927.47 crore.
The promoters holding in the company stood at 72.39%, while Institutions and Non-Institutions held 2.02% and 25.59% respectively.
Laxmi Organic Industries has raised Rs 259.12 crore through allotment of 9,625,579 equity shares to eligible qualified institutional buyers at the issue price of Rs 269.20 per equity share i.e. at a premium of Rs 267.20 per equity share (which included a discount of Rs 14.07 per equity share i.e. 4.97% of the floor price of Rs 283.27 per equity share). The issue opened on October 5, 2023 and closed on October 10, 2023.
Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Company stands increased from Rs 53.12 crore consisting of 26,55,76,954 Equity Shares to Rs 55.04 crore consisting of 27,52,02,533 equity shares. The Fund Raising Committee of Directors at its meeting held on October 10, 2023, approved the same.
Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates and solvents catering to diverse end-market sectors like pharmaceuticals, agrochemicals, food packaging, pigments and coatings.
