Laxmi Dental IPO Day 2: Issue booked 16.03x; HNIs, RIIs lead
The IPO includes a fresh issue of 32.24 lakh shares alongside an offer for sale (OFS) worth Rs 560 crore. Bidding will remain open till January 15.
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Laxmi Dental IPO Subscription Status: The initial public offering (IPO) of Laxmi Dental was subscribed 16.03 times on the second-day bidding process and received a application for 14,37,67,239 shares against 89,70,371 on January 14, 2025.
Category-wise, the Non-Institutional Investors (NIIs) have applied for the highest number with 9,15,28,668 shares against 24,46,464 shares, while the Retail Individual Investors (RIIs) portion received a bid for 4,81,35,945 shares or 29.51 times against 16,30,976 shares. Meanwhile, the QIBs category portion saw a 84 per cent subscription.
On the first-day bidding process (January 13), it was subscribed 5.30 times, with a bid for 4,75,70,490 shares against the 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 IPO Key: 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 and market sentiment
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.
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