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Laxmi Dental IPO Day 2; Subscription surpasses 7x, GMP zooms 33%

Retail Individual Investors (RIIs) have shown the highest enthusiasm, oversubscribing their reserved portion by 16.28 times

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Kumar Gaurav New Delhi

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Laxmi Dental IPO: The initial public offering (IPO) of Laxmi Dental, which opened for public subscription on Monday, January 13, 2025, continues to attract overwhelming investor interest on its second day. The Rs 698-crore public offering is available at a price band of Rs 407–Rs 428 per share, with a lot size of 33 shares.
 
As of 10:44 AM on January 14, the IPO has been oversubscribed 7.35 times, receiving bids for 6,59,16,576 shares against the 89,70,371 shares on offer, as per data from the National Stock Exchange (NSE).  ALSO READ: Quadrant Future Tek share posts steady debut; lists at 29% premium 
 
 
Retail Individual Investors (RIIs) have shown the highest enthusiasm, oversubscribing their reserved portion by 16.28 times. Non-Institutional Investors (NIIs) followed with 15.81 times oversubscription, while Qualified Institutional Buyers (QIBs) have subscribed to only 0.14 times their reserved quota so far.
 
The strong response to the 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 premium of Rs 142 or 33.18 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.
 
The company has also received reviews for its public offering from brokerages, including Canara Bank Securities, and Deven Choksey Research. READ MORE
 
The Laxmi Dental IPO will remain open for subscription until Wednesday, January 15, 2025. Investors can apply for a minimum of 33 shares at Rs 14,124 per lot and up to 14 lots or 462 shares, requiring Rs 1,97,736.
 
The basis of allotment for Laxmi Dental IPO shares is tentatively scheduled to be finalised on Thursday, January 16, 2025, while shares are expected to be credited to successful bidders’ demat accounts by Friday, January 17, 2025.
 
Laxmi Dental shares are likely to list on the BSE and NSE on Monday, January 20, 2025.
 
Laxmi Dental is an integrated dental products company that offers a range of dental products, including custom crowns and bridges, clear aligners, and pediatric dental products. Laxmi Dental operates a fully integrated model, handling the design, manufacturing, and distribution of dental products. As of September 30, 2024, the company has six manufacturing facilities and a dental network of over 22,000 clinics and dentists across India.
 

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First Published: Jan 14 2025 | 11:21 AM IST

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