Laxmi Organic jumps 26.6% on listing day, but Craftsman slips

Our Bureau. Chennai | Updated on March 25, 2021

It was a mixed day for new listings as shares of Laxmi Organic Industries made a strong debut on Thursday even as Craftsman Automation saw a lacklustre opening day.

Laxmi Organic Industries listed on the National Stock Exchange (NSE) at ₹155.50-- a 20 per cent premium over its issue price of ₹130. The scrip got listed on the Bombay Stock Exchange (BSE) at ₹156.20 a share. Laxmi Organic closed 26.6 per cent higher at ₹164.30 a share on the BSE and at ₹164.05 a share on the NSE. The IPO price band of the issue was pegged at ₹129-130.

On the BSE, 52.34 lakh shares changed hands while on the NSE, the volume stood at 6.38 crore shares.

The ₹600-crore IPO was over-subscribed by 44.06 times, with the high-networth individual (HNI) quota getting over-subscribed by 217.62 times, the qualified institutional buyers (QIB) quota getting over-subscribed by 175.43 times and the retail quota receiving subscription worth 19.95 times the allotted quantity.

However, the Coimbatore-based Craftsman Automation opened at ₹1,350 against the issue price of ₹1,490 and slipped further to ₹1.349.20 on the BSE. It closed slightly higher at ₹1,433, down 3.83 per cent from the IPO price. During the day, it touched a high of ₹1,489. On the NSE, it hit a low of ₹1,350 during the day after opening at ₹1,359. The stock closed at ₹1,435.60.

The ₹824-crore Craftsman Automation IPO was over-subscribed by 3.81 times with QIBs portion getting over-subscribed by 4.91 times and retail and non-institutional investors’ quota getting over-subscribed by 1.68 and 1.37 times respectively.

The combined trading volume on the BSE and the NSE stood at 36.54 lakh shares.

Published on March 25, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like