Laxmi Dental IPO Listed at Rs 542, Investors Gained 27%

Laxmi Dental Limited shares had an impressive debut. On the NSE, they listed at Rs 542 per share, 27% higher than the issue price of Rs 428. Similarly, on the BSE, they opened at Rs 542, reflecting a 23% premium.

Laxmi Dental's IPO received an overwhelming response, closing on January 15 with a subscription of 113.97 times. The Non-Institutional Investor (NII) category was oversubscribed by 147.51 times, retail investors by 74.43 times, and Qualified Institutional Buyers (QIB) by 110.38 times.

Incorporated in 2004. Laxmi Dental is India’s only end-to-end integrated dental products company offering a comprehensive portfolio of dental products. Its offerings include custom-made crowns 247 and bridges, branded dental products such as clear aligners, thermoforming sheets, aligner-related products as a part of aligner solutions, and paediatric dental products.

With a brand presence of more than 20 years, they are amongst the top two largest dental laboratories in India and the largest export laboratory with increasing adoption of digital dentistry.

Laxmi Dental IPO, a book-built issue worth Rs 698.06 crores opened on 13th January with a fresh issue of 0.32 crore shares aggregating to Rs 138 crores and an offer for sale of 1.31 crore shares aggregating to Rs 560.06 crores.  The price band was set between Rs 407 and Rs 428 with a minimum lot size of 33 shares. 

The company proposed to utilise the IPO proceeds to fund capex for new machinery and repay borrowings and investment in its subsidiary Bizdent Devices Private Limited for the purchase of new machinery.