Laxmi Organic Industries Ltd allots shares under QIP

The Fund Raising Committee of Directors of Laxmi Organic Industries Limited at its meeting held on October 10, 2023, approved the issue and allotment of 9,625,579 Equity Shares to eligible qualified institutional buyers at the issue price of ₹ 269.20 per Equity Share i.e. at a premium of ₹ 267.20 per Equity Share (which included a discount of ₹ 14.07 per Equity Share i.e. 4.97% of the floor price of ₹ 283.27 per Equity Share as determined in terms of SEBI ICDR Regulations), aggregating to ₹ 2,591.21 million, pursuant to the Issue.

The Issue opened on October 5, 2023 and closed on October 10, 2023 and the same was intimated to you through our letters dated October 5, 2023 and October 10, 2023, respectively.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Company stands increased from ₹ 531.15 million consisting of 26,55,76,954 Equity Shares to ₹ 550.41 million consisting of 27,52,02,533 Equity Shares.

Shares of Laxmi Organic Industries Limited was last trading in BSE at Rs. 271.15 as compared to the previous close of Rs. 270.15. The total number of shares traded during the day was 17164 in over 622 trades.

The stock hit an intraday high of Rs. 275.50 and intraday low of 270.55. The net turnover during the day was Rs. 4684365.00.

Source : Equity Bulls

Keywords

LaxmiOrganicIndustries INE576O01020 SharesAllotment QIBs FundRaising QIP