Kolkata: The bidding process of Laxmi Dental IPO kicked off on Monday, January 13. The bidding is set to close on January 15. The price band of Laxmi Dental IPO has been set at Rs 407-428. The date of allotment of shares is January 16. Unsuccessful bidders will get back their application money on January 17, while shares will be credited to the demat accounts of successful bidders on the same day. The day of listing is on January 20.
Laxmi Dental was successful in raising Rs 314 crore from anchor investors which consisted of mutual funds, foreign investors and insurance companies. According to information disclosed by the company, 73.39 lakh shares were allotted to 31 anchor investors at the cost of Rs 428 per share. Laxmi Dental IPO is designed to raise Rs 698.06 crores – a fresh issue component of 0.32 crore shares amounting to Rs 138 crores and an Offer for Sale (OFS) of 1.31 crore shares amounting to Rs 560.06 crores.
Laxmi Dental IPO GMP, price band
Laxmi Dental IPO GMP has a significant start. Though it was set to open on January 13, the GMP (Grey market Premium) rose to Rs 165 on January 9. With the issue price at Rs 428, the probable listing gain would have been 38.55%. However, the GMP later declined in the subsequent days and came down at the level of Rs 125 on the first day of bidding. It signalled a listing gain of 29.21%. But it must be remembered that GMP is an unofficial indicator which changes with time and does not guarantee anything – listing gain or loss. The Laxmi Dental IPO price band of Rs 407-428.
Laxmi Dental IPO lot size, lead manager
For retail investors the minimum lot size is 33 shares which calls for an application money of Rs 14,124. For sNII, the minimum lot consists of 15 lots that will entail an application money of Rs 2,11,860, while for bNII the minimum size is 71 lots that will need a commitment of Rs 10,02,804. The lead managers to the issue are SBI Capital Markets, Motilal Oswal Investment Advisors, Nuvama Wealth Management, while Link Intime India is the registrar to the Laxmi Dental IPO.
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By the evening of January 13, 2025, the first day of bidding, Laxmi Dental IPO garnered a subscription of 5.33 times. Even on a day when the Sensex tumbled 1.36% and Nifty slid 1.47%, the retail portion of the issue was subscribed 12.61 times in the retail category. The GMP stood at a level which indicated a listing gain of 29.21%. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
