Tue Jan 14 09:09:30 UTC 2025: ## Lakshmi Dental IPO Oversubscribed on Day 1

**New Delhi:** The initial public offering (IPO) of Lakshmi Dental, a leading manufacturer of dental products, was oversubscribed on its first day, witnessing strong retail investor participation. By 2 PM, the IPO was oversubscribed three times. The IPO, which closes on January 15th, aims to raise ₹698 crore, with ₹138 crore from the issuance of fresh shares and ₹560.06 crore through an offer for sale (OFS).

Despite a stable grey market premium of 39% over the past two trading sessions, brokerage firms like Bajaj Broking and BP Equities have expressed positive sentiment, recommending the IPO for long-term investment. Lakshmi Dental produces customized crowns and bridges, dental aligner solutions, and children’s dental products.

The IPO price band is set at ₹407-428 per share, with a minimum application of 33 shares. Allocation is 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 10% for retail investors. Listing on the BSE and NSE is scheduled for January 20th.

Prior to the IPO launch, the company raised ₹314.1 crore through its anchor book on January 10th, attracting significant international investors like the Abu Dhabi Investment Authority, Nomura Trust, Goldman Sachs, Eastspring Investments, and Neticsis International Funds. The proceeds will be used for debt repayment, purchase of new machinery, and general corporate purposes. Rajesh Vrajalal Khakar, Samir Merchant, and Dharmesh Bhupendra Dattani are the company’s promoters.

**(Disclaimer: Investment in IPOs is subject to market risks. Consult a certified investment advisor before investing.)**

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