Tue Jan 14 15:49:05 UTC 2025: ## Laxmi Dental IPO Oversubscribed on Day 1

**Mumbai, January 13, 2024** – The initial public offering (IPO) of Orbimed-backed Laxmi Dental opened today and has already been oversubscribed 5.30 times on its first day. According to the Bombay Stock Exchange (BSE), bids for 47,570,490 shares were received against the 8,970,371 shares on offer. Retail investors showed strong interest, with their portion oversubscribed 12.48 times. The non-institutional investor portion saw 10.87 times oversubscription, while the Qualified Institutional Buyers (QIB) portion was subscribed 13%. The IPO, priced at ₹428 per share, will remain open for subscription until January 15.

The IPO has already garnered significant interest from anchor investors, raising over ₹314 crore before the official opening. Prominent investors such as Aditya Birla Sun Life Mutual Fund, ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla Sunlife Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments, and Natixis Investment Managers participated in the anchor investment round. Laxmi Dental allocated 7.39 million shares to 31 entities at ₹428 per share in this round.

The IPO comprises ₹138 crore of fresh equity shares and an offer for sale (OFS) of 13.1 million equity shares worth ₹560 crore from promoters Rajesh Vrajlal Khakar and Samir Kamlesh Merchant, and other shareholders. The price band for the IPO is set at ₹407-₹428 per share.

According to Investorgain.com, the Laxmi Dental IPO is trading at a ₹120 premium in the grey market, suggesting a potential listing price of ₹548, a 28% premium over the upper end of the price band.

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