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Laxmi Organic share price surges over 8% on QIP fund raising; here's what analysts say
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₹259.1 crore via Qualified Institutional Placement (QIP). Laxmi Organic Industries Ltd share price opened at an intraday low of ₹274.50 apiece on BSE.
Laxmi Organic share price touched intraday high of ₹300.85. According to an exchange filing from the company, the Fund Raising Committee of Directors approved the issue and allotment of 9,625,579 equity shares to qualified institutional buyers who meet the eligibility requirements.
The shares were allotted at a premium of ₹267.20 per equity share, or ₹269.20, at the meeting on Tuesday, October 10. The approval amounted to ₹259.1 crore.
The issue opened on October 5 and closed on October 10. ICICI Mutual Funds buy 48.24% of QIP.
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