Listing date for Laxmi Dental’s IPO has been confirmed for Monday. The Grey Market Premium (GMP) indicates a strong potential for listing gains.
Laxmi Dental IPO: Laxmi Dental Limited’s highly anticipated initial public offering (IPO) is scheduled to be listed on the domestic stock market indices on Monday, January 17. The IPO opened for subscription on Monday, January 13, and closed for public bidding on Wednesday, January 15.
The IPO received an overwhelming response from investors, with a subscription rate of 114.42 times across all three segments. Investors bid for 1,02,63,84,315 equity shares, far surpassing the 89,70,371 shares available.
Among the segments, Non-Institutional Investors (NII) showed the highest subscription rate at 147.95 times, followed by Qualified Institutional Buyers (QIBs) at 110.38 times, and retail investors at 76.24 times, as reported by BSE IPO data.
As of January 18, the grey market premium (GMP) for Laxmi Dental IPO was ₹137 per share. With the upper price band set at ₹428, the shares are expected to debut at ₹565, representing a premium of 32.01%, based on data from Investorgain.com.
The GMP serves as an indicator of investors’ willingness to pay a premium for a public issue. The GMP for Laxmi Dental IPO increased by ₹18 leading up to the listing day, compared to the previous level of ₹119 on January 17.
The rising GMP suggests strong listing gains for Laxmi Dental on its stock market debut on Monday.
Laxmi Dental IPO Overview
Laxmi Dental Limited is a leading dental products company specializing in a wide range of products, including custom crowns and bridges, branded dental items such as clear aligners and thermoforming sheets, aligner-related products, and pediatric dental items.
The company recently announced its plans for an Initial Public Offering (IPO), consisting of a fresh issue of 32 lakh shares totaling ₹138 crore, along with an offer-for-sale (OFS) component of 1.31 crore shares amounting to ₹560.06 crore. The IPO is expected to raise a total of approximately ₹698.06 crore, as reported by Chittorgarh data.
The price band for the IPO has been set at ₹407 to ₹428 per share, with a lot size of 33 shares per lot. Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited have been appointed as the book-running lead managers for the public issue, with Link Intime India Pvt. Ltd serving as the registrar for the offer.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.