Laxmi Dental, a company operating in the dental products industry, made its stock market debut today, January 20, with shares listing at a premium of 27%. A mainboard issue, the stock was listed on both the BSE and NSE.
Listing Details
On the BSE, Laxmi Dental’s shares opened at Rs 528, marking a 23.3% premium over the issue price. Similarly, on the NSE, the stock debuted at Rs 542, a 26.6% increase.
By 10:10 AM IST, the shares were trading at Rs 540.05 on the BSE, up by 2.28% and Rs 543.85 on the NSE, up by 0.34%.
Following a highly successful subscription phase, the allotment of shares was finalised on January 16.
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Laxmi Dental IPO: GMP
Ahead of its official listing, Laxmi Dental’s shares traded at a grey market premium (GMP) of Rs 145, suggesting a potential listing price of Rs 573 per share. This indicated a 33.88% premium over the issue price of Rs 428 per share.
Laxmi Dental IPO: Overview of the issue
A price band set between Rs 407 and Rs 428 per share, with a minimum application lot size of 33 shares, Laxmi Dental IPO was a book-built issue worth Rs 698.06 crore. It comprised a fresh issue of 0.32 crore shares aggregating to Rs 138 crore and OFS of 1.31 crore shares amounting to Rs 560.06 crore.
During its three-day bidding, the IPO received an overwhelming response. The IPO was subscribed 114.14 times. This included 75.1 times in the retail category, 110.38 times in the QIB category, and 147.69 times in the NII category.
Laxmi Dental IPO: Key players behind the IPO
The IPO was managed by Nuvama Wealth Management, Motilal Oswal Investment Advisors, and SBI Capital Markets, while Link Intime India Private served as the registrar for the issue.
About Laxmi Dental
Established in 2004, Laxmi Dental is a player in the dental solutions industry. The company operates under the Taglus brand and specialises in designing, manufacturing, and distributing a variety of dental products, including custom crowns, bridges, clear aligners, and pediatric dental solutions.
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