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Lacklustre day on the cards - The Hindu BusinessLine

Lacklustre day on the cards - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Laxmi Organic IPO to open today, should you subscribe to the issue?

Chemicals maker Laxmi Organic IPO subscribed 2 28 times on Day 1

Speciality chemicals manufacturer Laxmi Organic Industries initial public offer was subscribed 2.28 times on the first day of subscription on Monday. The initial public offer (IPO) received bids for 7,42,26,635 shares against 3,25,58,138 shares on offer, according to data available with the NSE. The portion meant for qualified institutional buyers (QIBs) was subscribed 1 per cent, non-institutional investors 49 per cent and those for retail individual investors (RIIs) 4.34 times. The initial public offer aggregating up to Rs 600 crore comprises a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore. The price range for the Mumbai-based company s offer is Rs 129-130 per share.

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