 "IPO, initial public offering")
Shares of Laxmi Organic Industries, a Mumbai-based specialty chemicals company, gained 26 per cent during their stock market debut on Thursday. Its stock finished at Rs 164, up Rs 34 over IPO price of Rs 130. The stock hit a high of Rs 174.6 and a low of Rs 143.25 on the NSE, where Rs 1,100 crore worth of shares changed hands.
IPO applicants were expecting the shares to gain even more. The weakness in the secondary markets ate into the listing day gains, said experts. Shares of previous two companies to make their stock market debut have slipped below
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