Laxmi Dental IPO The shares were listed at Rs 542 per share on the NSE platform, a premium of 26.64 percent against its issue price. Additionally, shares of Laxmi Dental were listed at Rs 528 on the BSE, a premium of 23.36 percent. The IPO has received a strong response from investors, garnering bids for 14,36,79,096 equity shares. This is against the 89,70,371 equity shares on offer. This translates to an oversubscription of 16.02 times by the end of January 15, 2025.

Laxmi Dental IPO- Oversubscription

National Stock Exchange (NSE) in its data reveals that Non-Institutional Investors (NIIs) have driven demand. Non-Institutional Investor’s demand for the Laxmi Dental IPO led to oversubscription in their reserved category by 37.41 times. Additionally, Retail Individual Investors (RIIs) oversubscribed their portion by 29.47 times. Additionally, Qualified Institutional Buyers (QIBs) subscribed to 0.84 times of their allocation.

Laxmi Dental IPO comprises a fresh issue of 32,24,299 equity shares and an offer for sale of 1,30,85,467 equity shares. The price band set at Rs 407-428 per share, with a lot size of 33 shares. Retail investors can bid for a minimum of one lot or 33 shares at Rs 14,124 or up to 14 lots or 462 shares at Rs 1,97,736

Laxmi Dental IPO – GMP

The strong demand for IPO is reflected in the grey market too, where unlisted shares are trading at Rs 570 apiece. This indicates a grey market premium (GMP) of Rs 142 or 33.18 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.

Since the IPO subscription closes today, the basis of allotment for shares will be finalized on Thursday, January 16, 2025. Successful allottees of IPO will receive shares in their demat accounts by January 17, 2025. Moreover, Laxmi Dental shares will be listed on the BSE and NSE today.

About Company

Laxmi Dental is a dental products company. The company provides a diverse array of dental products, including custom crowns, bridges, clear aligners, and even pediatric dental products. Moreover, the dental company manages six manufacturing facilities across India additionally it has a presence in more than 90 countries. Additionally, the company as of September 2024 had 2,372 employees and a network of over 22,000 clinics and dentists.

ALSO READ: NBFCs Loan Growth To Decline To 17% In FY25 From 21% In FY24 – Jefferies Report