Laxmi Dental Makes Strong Market Debut: Experts Anticipate Successful Listing on BSE and NSE
- NSE Performance: Shares opened at ₹542 apiece, marking a 26.64% premium over the IPO price of ₹428.
- BSE Performance: On the BSE, shares opened at ₹528, reflecting a 23.36% increase from the issue price.
By the end of the trading day, Laxmi Dental shares closed at ₹551 on NSE, a 28.7% premium to the IPO price, and at ₹551.75 on BSE, a 28.91% premium.
IPO Highlights
The IPO of Laxmi Dental Ltd, which opened for bidding on January 15, garnered a phenomenal subscription rate of 113.97 times.
- Non-Institutional Investors: Subscribed 147.51 times.
- Qualified Institutional Buyers (QIBs): Subscribed 110.38 times.
- Retail Individual Investors (RIIs): Subscribed 74.41 times.
The IPO was fully subscribed within minutes of opening on Monday, thanks to strong investor demand. Supported by OrbiMed, the company raised over ₹314 crore from anchor investors. The IPO price range was set between ₹407 and ₹428 per share and included:
- A fresh equity issuance worth ₹138 crore.
- An Offer For Sale (OFS) of up to 1.31 crore equity shares valued at ₹560 crore, involving key promoters and shareholders, as outlined in the Red Herring Prospectus (RHP).
About Laxmi Dental
Laxmi Dental is a fully integrated dental product company, offering a diverse range of solutions such as custom-made crowns, bridges, aligner products, and pediatric dental solutions.
Stay tuned for further updates on Laxmi Dental and the stock market!
Disclaimer: The opinions and recommendations mentioned in this article are those of analysts, experts, and brokerage firms. Investors should seek professional advice tailored to their individual circumstances before making financial decisions.
