Laxmi Dental Limited IPO: Laxmi Dental’s IPO has had a strong start on the stock exchange. Laxmi Dental’s IPO has been listed on the stock exchange at Rs 542, a jump of 27 percent from the issue price of Rs 428. Even after the listing, the rise in the stock did not stop and due to buying by investors, the stock rose by 36.44 percent to reach Rs 584. That is, on the very first day of listing, Laxmi Dental’s shares have made a profit of Rs 156 to the shareholders.
Laxmi Dental’s share is listed at Rs 528 on NSE and Rs 528 on BSE against the issue price of Rs 428. Laxmi Dental’s IPO was opened for applications today from 13 to 15 January 2025 and the company has raised Rs 698.06 crore from the market through IPO. The price band of IPO was fixed at Rs 407-428 per share. In this IPO of Rs 698.06 crore, Rs 560.06 crore has been raised through fresh issue of Rs 138 crore i.e. by issuing new shares and offloading 1.31 crore shares in offer for sale. The company has raised Rs 314 crore from anchor investors.
Laxmi Dental’s IPO received a great response despite the bad mood of the market. The IPO was subscribed a total of 114.14 times in which the reserve quota for institutional investors was subscribed 110.38 times, the quota for non-institutional investors was subscribed 148 times and the quota for retail investors was subscribed 75 times. Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets are the book running lead managers of this IPO.
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