Laxmi Organic's Big News Boosts Its Shares
Laxmi Organic Industries, a company that makes special chemicals used in various industries, had some exciting news on October 11.
Their shares went up by more than 8 percent early in the day. What happened? Well, the company raised a lot of money – Rs 259 crore, to be exact – through something called Qualified Institutional Placement or QIP.
Here's the story: Laxmi Organic decided that they were going to sell 96.25 lakh equity shares at a price of Rs 269.20 each. This price was actually a bit cheaper, about 4.97 percent less, than a floor price set at Rs 283.27. They started selling these shares on October 5 and finished on October 10.
So, why is this a big deal? Well, because of this, the company's total value or capital went up. It used to be Rs 53.1 crore, with 26.55 crore equity shares. Now, it's Rs 55 crore, with 27.52 crore shares. This means the company is worth more now!
Laxmi Organic Industries specializes in making chemicals that are used in many areas, like medicine, farming, food packaging, and even in making paints. People started buying its shares, and at 9:40 in the morning, they were trading at Rs 295 on the National Stock Exchange. That's 8.4 percent more than the last time they were sold.
However, it's important to remember that the stock of this company hasn't done so well this year. It actually lost 1.21 percent. And over the last year, it fell by over 11 percent, which is worse than a big group of popular stocks called the Nifty 50.
If you're wondering who owns this company, most of it belongs to the people who started it or the "promoters." They have 72.39 percent of the shares, while the other 27.61 percent is owned by regular people like you and me who bought shares.
Some financial groups like Mutual Funds own a small piece of this company, but they sold a little bit in the first quarter of this year. On the other hand, foreign investors known as FII/FPI bought a tiny bit more of the company's shares during the same period.
So, this news about Laxmi Organic Industries is exciting for the company and its shareholders.
They raised a lot of money, and it seems like many people are interested in their future. But, it's also a reminder that the stock market can be quite tricky, and the performance of a company's shares can go up and down.
So, if you're thinking about investing in stocks, it's always a good idea to do your homework and understand the risks and rewards.
Comments
Post a Comment