Kolkata: Mumbai-based Laxmi Dental was set up in July 2004. It manufactures custom crowns and bridges, branded dental items, thermoforming sheets, paediatric dental products and other such items. It does the entire process from design, manufacturing to distribution of dental products. It has half a dozen manufacturing facilities in Mumbai and Kochi and 5 supporting facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad.
Laxmi Dental IPO is a book-built issue that aims at raising Rs 698.06 crores. It consists of a fresh issue component of 0.32 crore shares aggregating to Rs 138 crores and an OFS (Offer for Sale) of 1.31 crore shares aggregating to Rs 560.06 crores.
Laxmi Dental IPO GMP
Though the bidding process is set to open on January 13, the GMP (Grey market Premium) of Laxmi Dental IPO stood at a hefty Rs 165 on the afternoon of Thursday, January 9. Assuming the issue price to be Rs 428, the listing price would then be Rs 593, which signals a listing gain of 38.55%. Significantly, on January 9, the GMP rose to Rs 165 from the level of Rs 155 on January 8 (which signalled a listing gain of 36.21%). However, it must be mentioned that GMP is an unofficial indicator which changes with time and does not guarantee anything – listing gain or loss.
Laxmi Dental IPO price band, lot size, allotment
The Laxmi Dental IPO price band of Rs 407-428. For different categories of investors, the minimum lot size stands as follows: for retail investors 33 shares that needs an application money of Rs 14,124; for sNII 15 lots that will cost Rs 2,11,860; for bNII 71 lots that will need a bid of Rs 10,02,804. While the date for allotment of shares will take place on Thursday, January 16, the listing will take place on January 20. Successful bidders will get shares credited to their demat account on January 17. The application money will be returned to unsuccessful bidders on the same day.
The lead managers to the issue are SBI Capital Markets, Motilal Oswal Investment Advisors, Nuvama Wealth Management. Link Intime India has been appointed as the registrar to the Laxmi Dental IPO.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
The process of bidding for Laxmi Dental IPO will kick off from January 13 and the last date for bidding is Jan 15. The price band is Rs 407-428, while the minimum lot size has 33 shares. The date of allotment of shares is Jan 16, while on the next day unsuccessful bidders will get back their application money. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
