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The QIP, which commenced on 5 October 2023, concluded on 10 October 2023, with a total of 9,625,579 equity shares being allotted. The shares were priced at Rs 269.20 per share, resulting in an issue size of approximately Rs 259.12 crore.
The issue price of Rs 269.20 is at a discount of Rs 14.07 or 4.97%, to the floor price of Rs 283.27 per equity share set for the QIP issue.
The QIP witnessed participation from various institutional investors, with the top five allottees receiving more than 5% of the total issue size.
ICICI Prudential multiple funds emerged as the largest allottee, securing a substantial 48.24% allocation. Following closely behind, Societe Generale – ODI secured a notable 19.92% allocation, while Turnaround Opportunities Fund and 360 One Equity Opportunity Fund received allocations of 10.42% and 1.16%, respectively. Ashoka India Equity Investment Trust Plc secured a 9.65% allocation and the allocation of Authum Investment and Infrastructure was 7.72%.
Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates with almost three decades of experience in large scale manufacturing of chemicals.
The company reported 40.51% decline in consolidated net profit to Rs 38.33 crore on a 3.04% fall in sales to Rs 733.58 crore in Q1 FY24 as compared with Q1 FY23.
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