Laxmi Organic IPO listing gain: Stock debuts at premium, Craftsman Automation IPO at discount; Anil Singhvi explains

Laxmi Organic and Craftsman Automation IPOs on Thursday were listed on the Indian stock market.  

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"Laxmi Organic IPO opened at 15 % above its issue price. Against its price of Rs 130, the IPO was listed at Rs 156.20, a premium of RS 26. However, Craftsman Automation had a poor listing at Rs1350 against its issue price of Rs 1490, a discount of Rs 140," informed Zee Business Managing Editor Anil Singhvi.  

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अच्छी लिस्टिंग- #LaxmiOrganic इश्यू प्राइस ₹130 के मुकाबले ₹156.20 पर लिस्ट

खराब लिस्टिंग- #CraftsmanAutomation इश्यू प्राइस ₹1,490 के मुकाबले ₹1,350 पर लिस्ट#NewListing @AnilSinghvi_ pic.twitter.com/GCAXU7IZ9F

— Zee Business (@ZeeBusiness) March 25, 2021

The Market Guru said after Anupam Rasayan, this was another weak listing.  

"The listing appears to be weak even in case of Laxmi Organic IPO as it did not fare on expectation part too, while Craftsman Automation opened on 9 per cent discount. With this, poor listing streak continues for IPOs. Easy Trip Planners Pvt Ltd shares also failed to give strong performance after listing and it appears the same trend will follow in other IPOs," he concluded.   

Earlier, Laxmi Organic IPO opened for public subscription between March 15-17. It consisted of fresh issuance of shares aggregating to Rs 300 crore and an offer for sale worth Rs 300 crore by the promoter Yellow Stone Trust. Automaker Craftsman Automation's Rs 824-crore IPO comprised a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale (OFS) of up to 45,21,450 shares by promoter and existing shareholders. The issue of this IPO also opened on March 15 and closed on March 17. Both of these IPOs were listed today, March 25.