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Laxmi Organic Shares Debut With Over 20% Premium

Representative image.

Representative image.

The company's market valuation was at Rs 4,185.65 crore on BSE.

Shares of specialty chemicals manufacturer Laxmi Organic Industries Ltd debuted with a premium of over 20 per cent on Thursday as against its issue price of Rs 130. It listed at Rs 156.20, a gain of 20.15 per cent from the issue price on BSE. The stock jumped 24.65 per cent to Rs 162.05.

On NSE, it debuted at Rs 155.50, a jump of 19.61 per cent. The company’s market valuation was at Rs 4,185.65 crore on BSE.

Laxmi Organic Industries’ initial public offer was subscribed a whopping 106.79 times earlier this month. The price range for the offer was fixed at Rs 129-130 per share.

The company has a global presence with customers in over 30 countries, including China, the Netherlands, Russia, Singapore, United Arab Emirates, the UK and the US.