 "Laxmi Dental IPO closes today; check subscription status, GMP, listing date")
Laxmi Dental IPO subscription status: The three-day subscription window for the initial public offering (IPO) of Laxmi Dental, which opened on Monday, January 13, 2025, is set to conclude today. The IPO has received a strong response from investors, garnering bids for 14,36,79,096 equity shares against the 89,70,371 equity shares on offer. This translates to an oversubscription of 16.02 times by the end of January 14, 2025. ALSO READ: Sat Kartar Shopping IPO allotment today; check status, GMP, listing date
Data from the National Stock Exchange (NSE) reveals that Non-Institutional Investors (NIIs) have driven demand for the Laxmi Dental IPO, oversubscribing their reserved category by 37.41 times. This is followed by Retail Individual Investors (RIIs), who oversubscribed their portion by 29.47 times, while Qualified Institutional Buyers (QIBs) subscribed to 0.84 times of their allocation.
The strong demand for Laxmi Dental IPO is also reflected in the grey market, where the company’s unlisted shares are trading at Rs 570 apiece. This indicates a grey market premium (GMP) of Rs 142 or 33.18 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.
Laxmi Dental IPO comprises a fresh issue of 32,24,299 equity shares and an offer for sale of 1,30,85,467 equity shares. The price band is set at Rs 407-428 per share, with a lot size of 33 shares. Retail investors can bid for a minimum of one lot or 33 shares at Rs 14,124 or up to 14 lots or 462 shares at Rs 1,97,736.
Several brokerages, including Canara Bank Securities and Deven Choksey Research, have provided reviews for the IPO. READ MORE
As the IPO subscription closes today, the basis of allotment for Laxmi Dental shares is likely to be finalised on Thursday, January 16, 2025. Successful allottees will receive shares in their demat accounts by January 17, 2025.
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Laxmi Dental shares are scheduled to be listed on the BSE and NSE on Monday, January 20, 2025.
About Laxmi Dental
Incorporated in July 2004, Laxmi Dental is an integrated dental products company. It offers a wide range of dental products, including custom crowns and bridges, clear aligners, and pediatric dental products. The company operates six manufacturing facilities and five supporting facilities across India. As of September 30, 2024, Laxmi Dental has a network of over 22,000 clinics and dentists across India and exports its products to more than 90 countries.