Laxmi Organic's decent listing

Laxmi Organic Industries is a new listing today morning. It got listed on the BSE at Rs.156.20 while on the NSE at Rs.155 v/s IPO price of Rs.130. Compared to the discounted listing of Anupam Rasayan, this was a much better performance.

Post listing, it went up to Rs.164.40 and is now trading at Rs.162 levels.

The IPO had got a very good response, subscribing 107 times, with HNIs taking the giant portion at 218 times, followed by QIBs at 175 times and retail investors at 20 times.

In our New Issue Analysis, we had concluded, “Company’s fundamentals remain strong and it is on a steady growth path, thanks to rising capacity utilization and planned expansion. Financials are likely to show good growth from FY23E onwards, hence one can invest in the IPO with a long term view.”