Laxmi Dental IPO Day 3 Subscription Status: The initial public offering (IPO) of Laxmi Dental was subscribed 27.93 times on the third and last-day bidding process. It received bids for 25,05,46,296 shares against 89,70,371 so far on January 14, 2025.

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Category-wise, the Non-Institutional Investors (NIIs) have applied for the highest number with 17,20,61,604 shares or 70.33 times against 24,46,464 shares until 11:57 am, while the Retail Individual Investors (RIIs) portion received a bid for 7,37,24,112 shares or 45.20 times against 16,30,976 shares. Meanwhile, the QIBs category portion saw a 97 per cent subscription.

Laxmi Dental IPO Day 2 Subscription Update

Yesterday, January 14, 2025, it was subscribed 16.03 times in which HNIs have applied for the highest number with 9,15,28,668 shares, while the Retail portion received a bid for 4,81,35,945 shares, and QIBs category saw a subscription of 84 per cent.

Laxmi Dental IPO Day 1 Subscription Update

On the first day of the bidding process (January 13), it was subscribed 5.30 times, with a bid of 4,75,70,490 shares against 89,70,371 shares. Category-wise, the Retail Individual Investors (RIIs) portion was subscribed 12.4 times, while the Non-Institutional Investors (NIIs), also known as HNIs, have applied 10.8 times. Meanwhile, the Qualified Institutional Buyers (QIBs) segment saw a subscription of 0.13 per cent.

The IPO includes a fresh issue of 32.24 lakh shares alongside an offer for sale (OFS) worth Rs 560 crore.

Laxmi Dental IPO Details: From price band to key dates to registrar, everything you need to know

Laxmi Dental’s IPO opened for bidding on January 13 and will remain open until January 15. The price band for the IPO is set between Rs 407 and Rs 428 per share. Investors can bid for a minimum of 33 shares, amounting to Rs 14,124 for retail investors.

The IPO aims to raise Rs 698.06 crore, comprising a fresh issue worth Rs 138 crore and an offer for sale (OFS) amounting to Rs 560 crore. The OFS includes shares being offloaded by key stakeholders, including promoters Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant, and investor OrbiMed Asia II Mauritius Ltd.

Laxmi Dental plans to use the proceeds from the fresh issue to repay existing debt, fund capital expenditures, and invest in its subsidiary, Bizdent Devices Pvt Ltd. The funds will also be utilised for general corporate purposes.

What does Laxmi Dental Ltd do?

The company is a leading player in the dental products market, offering a diverse portfolio that includes custom-made crowns and bridges, aligner solutions, and paediatric dental products. Its end-to-end integrated operations and strong distribution network have contributed to its robust market position.

Laxmi Dental IPO: Anchor investor

Ahead of the IPO opening bidding window, the company raised Rs 314 crore from anchor investors on Friday, January 10.

Laxmi Dental IPO: Allotment & listing dates

The allotment of shares is expected to be finalised on Thursday, January 16. The Laxmi Dental stock will likely to debut on next week's Monday, January 20, 2025.

Who is the registrar for Laxmi Dental IPO?

MUFG Intime India is an official registrar for the Laxmi Dental IPO.