Laxmi Organics successfully closes QIP, allots equity shares

Laxmi Organic Industries Limited has successfully completed its Qualified Institutions Placement (QIP) process, having received applications and funds from eligible qualified institutional buyers. The Fund Raising Committee of the Directors approved the closure of the QIP on October 10, 2023.

In accordance with the SEBI ICDR Regulations, Laxmi Organic Industries has allocated 9,625,579 equity shares at an issue price of ₹269.20 per equity share. This price represents a discount of ₹14.07 per equity share, or 4.97%, compared to the floor price of ₹283.27 per equity share. The discount and premium of ₹267.20 per equity share have been determined in accordance with SEBI regulations.

The company also approved and adopted the placement document and finalized the confirmation of allocation note to be sent to eligible qualified institutional buyers.