Laxmi Organic Industries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 156.20 on the Bombay Stock Exchange, a 20.15 per cent premium to its issue price of Rs 130.00. On the National Stock Exchange, the stock was listed at Rs 155.50.

The company, which raised 4.62 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 461.54 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Mar 15 to Mar 17.

Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.

The company anticipates using the proceeds of the issue for Investment in the wholly owned Subsidiary, Yellowstone Fine Chemicals Private Limited (“YFCPL) for partfinancing its capital expenditure requirements in relation to the setting up of a manufacturing facility for fluorospecialty chemicals (“Proposed Facility); Investment in YFCPL for funding its working capital requirements; Funding capital expenditure requirements for expansion of the SI Manufacturing Facility (“Proposed Expansion); Funding working capital requirements of the Company; Purchase of plant and machinery for augmenting infrastructure development at the SI Manufacturing Facility; Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and the wholly owned Subsidiary, Viva Lifesciences Private Limited (“VLPL); and General corporate purposes (collectively, referred to herein as the “Objects).

Axis Capital Ltd.,DAM Capital Advisors Limited as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 49,180.31, down 871.13 points, or 1.74 per cent.