Laxmi Dental IPO day 1 subscription status: The IPO of dental products company Lakshmi Dental is getting tremendous response from investors. According to the official website of BSE India, the IPO of Lakshmi Dental has been subscribed 3.02 times i.e. 302 percent till 1.30 pm on the first day. The IPO size of Orbimed-backed company Lakshmi Dental is Rs 698 crore. To raise funds, shares are being sold through both fresh issue and offer for sale (OFS).
In the mainboard IPO, the company is selling 32.24 lakh equity shares worth Rs 138 crore through fresh issue and 1.30 crore shares worth Rs 560.06 crore through Offer for Sale (OFS). The company has kept the price band for this at Rs 407 to Rs 428 per share. On the day of opening of subscription, the GMP of IPO in the gray market has reached 39 percent. You can check all the important details including subscription status, GMP here.
Laxmi Dental IPO GMP
The craze in the gray market regarding the IPO of Lakshmi Detal is looking good. The company’s unlisted stock is trading at a premium of Rs 165 in the gray market, which is 39 percent premium on the first day of opening of subscription in terms of the upper price band of Rs 428. If we look at the current GMP indicators then this stockCompared to Rs 428 IPO, it may be listed around Rs 600.
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Laxmi Dental IPO Subscription
According to the stock exchange BSE, the IPO of Lakshmi Dental has been subscribed 3.02 times i.e. 302 percent till 2 pm on the first day. 10 percent share in the IPO is reserved for retail investors and it has been filled the maximum number of 9.03 times or 903 percent on the first day. Whereas for Non-Institutional Investors (NII), 15 percent share is reserved in the IPO and till now it has been filled 5.54 times or 554 percent. Whereas 75 percent of it is reserved for Qualified Institutional Buyers (QIB). Till now it has been filled only 0.01 times i.e. 1 percent.
Laxmi Dental:About IPO
The size of Lakshmi Dental’s IPO is Rs 698 crore. The company has reduced the size of sale of new shares in the IPO from Rs 150 crore to Rs 138 crore and increased the size of the offer for sale (OFS) from 1.28 crore equity shares to about 1.31 crore shares. In the IPO, 10 percent of the issue has been reserved for retail investors. At the same time, 75 percent is reserved for QIB category, while 15 percent is reserved for NII.
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How long will the IPO remain open?
Lakshmi Dental’s IPO will remain open for investment till January 15, 2025. Share allotment in this IPO will take place on January 16, 2025, while refund and credit to demat account will take place on January 17, 2025. The company’s shares will be listed on BSE and NSE on January 20, 2025.
Minimum and maximum investment in IPO
The lot size in the IPO is 33 shares. Retail investors can bid for a minimum of one lot i.e. 33 shares. If you apply for 1 lot as per the upper price band of IPO 428, then you will have to invest a minimum of Rs 14,124. Retail investors can apply for a maximum of 14 lots i.e. 462 shares. For this, investors will have to invest Rs 1,97,736.
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Laxmi Dental IPO: Where will the funds be used?
According to the document filed with SEBI, the funds raised from the fresh issue will be used to repay loans, fund capital expenditure requirements, invest in its subsidiary Bizdent Devices Pvt Ltd and for general corporate purposes. Nuvama Wealth Management, Motilal Oswal Investment Advisors, SBI Capital Markets are the book running lead managers of Lakshmi Dental IPO and MUFG Intime India Pvt Ltd is its registrar.
Laxmi Dental:what does the company do
Lakshmi Dental is an integrated dental products company, which was started in July 2004. The company provides everything from design and manufacturing to distribution of dental products. The company manufactures products such as custom crowns and bridges, clear aligners, thermoforming sheets and pediatric dental.
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How are the company’s financials?
Talking about the financials of the company, the revenue and expenditure of the company in the financial year 2023 were Rs 163.84 crore and Rs 167.76 crore. The company suffered a loss of Rs 4.16 crore during this period. While the company’s revenue and expenditure in the financial year 2024 were Rs 195.26 crore and Rs 186.66 crore, during this period the company has made a profit of Rs 25.23 crore. In the financial year 2025, till the end of September i.e. in 6 months, the company’s profit has been Rs 22.74 crore. During this period, revenue and expenditure were Rs 117.99 crore and Rs 103.41 crore.
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