Laxmi Organic zooms 13%; company raises Rs 259 crore via QIP
Laxmi Organic share news: The QIP issue opened on October 5 and closed on October 10. The paid-up equity share capital of the company has increased from Rs 53.1 crore, consisting of 26.55 crore shares, to Rs 55 crore, consisting of 27.52 crore equity shares.
Laxmi Organic share price NSE: Laxmi Organic shares zoomed as much as nearly 13 per cent in morning trade to touch the day's high of Rs 306 on NSE on Wednesday, October 11, after the company raised Rs 259 crore through qualified institutional placement (QIP). The Goenka Group's flagship company’s board approved the allocation of 96.25 lakh shares of face value of Rs 2 each to eligible qualified institutional buyers at an issue price of Rs 269.2 per equity share, a discount of 4.97 per cent to the floor price of Rs 283.27, according to an exchange filing from the company. Laxmi Organic shares ended 11.01 per cent or Rs 29.85 higher at Rs 301.05 on NSE.
Here's how the counter moved on Wednesday:
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.