Stocks

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

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