Laxmi Dental Limited made a notable entry into the stock market today, January 20, 2025, with its shares listing at a premium on both NSE and BSE. On the NSE, the stock opened at ₹542 per share, marking a 26.6% increase over the issue price of ₹428. Similarly, on the BSE, the shares opened at ₹528 per share, reflecting a 23.3% premium.
Laxmi Dental IPO Subscription Highlights
The initial public offering (IPO) of Laxmi Dental was met with strong investor enthusiasm. The subscription period, which ran from January 13 to January 15, 2025, saw the issue being oversubscribed 60.02 times. Retail individual investors showed significant interest, with their segment subscribing 12.40 times. Non-institutional investors subscribed 10.85 times, while qualified institutional buyers subscribed 13%.
Key Details About the IPO Structure
The IPO comprised a fresh issue of 3.2 million shares, amounting to ₹138 crore, and an offer for sale of 13.1 million shares, totaling ₹560.06 crore, bringing the total issue size to ₹698.06 crore. The price band was set between ₹407 and ₹428 per share, with a minimum lot size of 33 shares, requiring a minimum investment of ₹14,124.
Utilization of IPO Proceeds
Proceeds from the IPO are earmarked for several strategic initiatives, including the repayment of borrowings, investment in subsidiaries for debt reduction, funding capital expenditures for new machinery purchases, and general corporate purposes.
About Laxmi Dental Limited
Laxmi Dental Limited is an integrated dental products company offering a comprehensive portfolio that includes custom-made crowns and bridges, clear aligners, thermoforming sheets, and pediatric dental products. With over two decades in the industry, the company has established itself as a key player in the dental products sector.
What Awaits Investors Ahead
The successful listing of Laxmi Dental’s shares underscores the robust demand for quality healthcare companies in the Indian stock market. Investors and market analysts will be closely monitoring the company’s performance in the coming months to assess its growth trajectory and market positioning.
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