Kolkata: Laxmi Dental IPO has been able to generate significant investor enthusiasm from the first day of bidding. On January 13, Laxmi Dental IPO was able to garner an overall subscription of 5.33 times and the retail portion of the issue was subscribed 12.61 times in the retail category. By the end of the second day of bidding the level of overall subscription reached 16.06 times. Laxmi Dental managed to raise Rs 314 crore from anchor investors such as mutual funds, foreign investors and insurance companies.
Laxmi Dental was set up in 2004 in Mumbai. It is active in the domain of manufacturing dental crowns and bridges, thermoforming sheets, paediatric dental products and other similar items. From designing to manufacturing to distribution of dental products, this company is present in the entire range. The company owns 6 manufacturing facilities in Mumbai and Kochi and 5 adjunct facilities in Bengaluru, Ahmedabad, Delhi and Mumbai.
Laxmi Dental IPO price band, GMP
The Laxmi Dental IPO price band has been set at Rs 407-428. Laxmi Dental IPO GMP declined between January 9 and 13, when it came down from a level of Rs 165 to 142. But since January 13 – when the bidding process began – it has held the level of Rs 142. With the issue price at Rs 428, the listing gain signalled by this GMP is 33.18%. However, it must be remembered that GMP is an unofficial indicator which changes with time and does not guarantee anything – listing gain or loss.
Laxmi Dental IPO lot size, lead manager
The minimum investible lot size consists of 33 shares for retail investors. They have to pay Rs 14,124 as application money. For the sNII category of investors, the minimum lot has 15 lots that will require application money of Rs 2,11,860. For the bNII investors, the minimum size is 71 lots that will need an application amount of Rs 10,02,804. The lead managers to Laxmi Dental IPO are SBI Capital Markets, Motilal Oswal Investment Advisors, Nuvama Wealth Management, while Link Intime India is the registrar to the issue.
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The GMP of Laxmi Dental IPO stood rock steady at Rs 142 since January 13, when the process of bidding for the issue kicked off. It signals a listing gain of more than 33%. While the bidding process ends today (January 15), listing is on January 20. Unsuccessful bidders will get back application money on January 17 and successful ones will get shares in their demat accounts on the same day. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
