Shares of Laxmi Organic Industries witnessed a huge jump in their share price in today’s morning trading session as the stock surged 9% after company raised ₹259.1 Crore via QIP where ICICI Mutual Funds bought 48.24% of QIP.
Laxmi Organic Industries Limited successfully raises ₹259.1 crores through a Qualified Institutional Placement (QIP). The Fund Raising Committee of Directors approved the issuance and allotment of 9,625,579 Equity Shares to eligible qualified institutional buyers at a price of ₹269.20 per share, including a discount of ₹14.07 per share (4.97% of the floor price) as per SEBI ICDR Regulations. ICICI Mutual Funds acquire 48.24% of the QIP, indicating strong market interest in the offering.
At the time of reporting the company’s share were trading 8.33% up at ₹293.80
