Laxmi Dental IPO listing date fixed on Monday. GMP signals strong listing gain | Stock Market News

Laxmi Dental Limited’s initial public offering (IPO) is set 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 was subscribed 114.42 times by all three segments of investors in the bidding rounds. Investors booked 1,02,63,84,315 equity shares, compared to the 89,70,371 shares on offer.

The Non-Institutional Investors (NII) segment was subscribed the most at 147.95x subscription compared to the shares on offer. The NII lead was followed by Qualified Institutional Buyers (QIBs) coming in at 110.38x subscription, and the retail investors at 76.24x, according to BSE IPO data. 

Laxmi Dental IPO latest GMP

As of January 18, the grey market premium (GMP) of Laxmi Dental stood at ₹137 per share. With the upper price band for the public issue at ₹428, the shares are expected to be listed at ₹565, a premium of 32.01 per cent, according to data collected from Investorgain.com.

The grey market premium (GMP) is an indicator of investors’ willingness to pay more for a public issue. The IPO’s GMP jumped ₹18 ahead of the listing day on Saturday, compared to its earlier level of ₹119 on January 17.

The GMP signals strong listing gains on the stock market debut on Monday. 

Laxmi Dental IPO Details

Laxmi Dental Limited is an integrated dental products company which offers items like custom crowns and bridges, branded dental items like clear aligners and thermoforming sheets, aligner-related products as part of its aligner solutions, and pediatric dental products.

The dental products company offered a combination of a fresh issue of 32 lakh shares amounting to ₹138 crore and an offer-for-sale (OFS) component of 1.31 crore shares aggregating to ₹560.06 crore.

The overall public issue was aimed at raising nearly ₹698.06 crore, according to Chittorgarh data. The company fixed the price band for the IPO in the range of ₹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 are the book-running lead managers for the public issue, while Link Intime India Pvt. Ltd is the registrar for the offer.

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