The initial public offering (IPO) of Laxmi Dental IPO, which opened for public subscription on Monday, January 13, 2025, continues to attract overwhelming investor interest on its second day. The Rs 698-crore IPO has attracted substantial demand, especially from retail investors. The price band for the offering is set between Rs 407 to Rs 428 per share, with a lot size of 33 shares.
As of 10:44 AM on January 14, 2025, the IPO had been oversubscribed by a staggering 7.35 times. There were bids for 6,59,16,576 shares against the 89,70,371 shares offered, according to the National Stock Exchange (NSE) data. This robust demand indicates the growing interest in Laxmi Dental IPO.
Retail Investors Lead the Charge in Laxmi Dental IPO
Retail Individual Investors (RIIs) have shown the highest enthusiasm in this Laxmi Dental IPO, oversubscribing their portion by 16.28 times. Non-Institutional Investors (NIIs) followed closely with a 15.81 times oversubscription, while Qualified Institutional Buyers (QIBs) have subscribed to only 0.14 times their reserved quota. This underscores the strong retail participation and the potential for higher demand going into the final days of the subscription window.
Grey Market Premium Reflects Positive Sentiment for Laxmi Dental IPO
The grey market, where unlisted shares are traded before the official listing, has also reflected the optimism surrounding Laxmi Dental IPO. The company’s unlisted shares are currently trading at Rs 570 apiece, which marks a significant premium of Rs 142 (or 33.18%) over the upper end of the IPO price band. This uptick in the grey market indicates investor confidence, as many expect the stock to perform well once it officially lists on the exchanges.
Laxmi Dental IPO Subscription Details
The Laxmi Dental IPO will remain open for subscription until Wednesday, January 15, 2025. Investors can apply for a minimum of 33 shares at Rs 14,124 per lot, and can subscribe for up to 14 lots, which equals 462 shares, amounting to a total of Rs 1,97,736.
The allotment of shares will be finalized on Thursday, January 16, 2025. For those lucky enough to secure a spot, the shares will be credited to the respective Demat accounts by Friday, January 17, 2025. The listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is expected to take place on Monday, January 20, 2025.
About Laxmi Dental and Its IPO Offering
Laxmi Dental IPO is an integrated company specializing in the design, manufacturing, and distribution of dental products. Offering a wide range of products, including custom crowns and bridges, clear aligners, and pediatric dental products, the company operates with a fully integrated business model. As of September 30, 2024, Laxmi Dental has six manufacturing facilities and a robust network of over 22,000 dental clinics and dentists across India.
The IPO offers investors the chance to participate in the growth of a leading player in the dental care sector, which has seen strong demand for its products. The company’s focus on innovation and expansion within the dental care space provides a promising outlook for its future prospects.
The Road Ahead for Laxmi Dental IPO
With strong retail participation and a solid response in the grey market, the Laxmi Dental IPO is shaping up to be one of the most anticipated offerings of the year. Investors are eagerly awaiting the official listing of the company’s shares, which is expected to create considerable buzz in the stock market.
As the IPO subscription window nears its close, it will be interesting to see if the demand continues to surge. Investors who are looking to tap into the growing dental care sector may want to consider taking part in this promising public offering.
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