Tue Jan 14 14:58:39 UTC 2025: ## Laxmi Dental IPO Oversubscribed on Day One

**Mumbai, January 13, 2025** – Laxmi Dental Limited’s Initial Public Offering (IPO) has received a strong response from investors, exceeding expectations on its first day. The issue has been oversubscribed by 4 times, with bids received for 36.1 million shares against the offer size of 8.97 million shares.

The company aims to raise ₹698.06 crore through the IPO, which is priced between ₹407 and ₹428 per share. The offer closes on January 15th. Laxmi Dental had already secured ₹314 crore from anchor investors prior to the IPO launch.

Subscription details as of the end of day one show significant disparity across investor categories: Qualified Institutional Buyers (QIBs) subscribed at a mere 0.12 times, while Non-Institutional Investors (NIIs) showed significantly higher interest, subscribing 7.54 times.

The IPO comprises 3.22 million fresh equity shares worth ₹138 crore and an offer for sale of 13.1 million shares worth ₹560.06 crore. Positive sentiment from the grey market further boosts the IPO’s outlook. The shares will be listed on both the BSE and NSE.

Investors can bid for a minimum of 33 shares and multiples thereof, with a minimum investment of ₹14,124 for retail investors. Allotment is expected on January 16th, with listing anticipated around January 20th. Link Intime India Private Limited is the registrar, while Nuvama Wealth Management, Motilal Oswal Investment Advisors, and SBI Capital Markets are the lead managers.

The grey market currently indicates a premium of ₹120 per share, suggesting a potential listing price of ₹548 and a potential return of approximately 28.04% for investors. However, grey market predictions are speculative and should not be considered guaranteed.

Laxmi Dental, established in July 2004, is an integrated dental products company offering a range of products including custom crowns and bridges, clear aligners, thermoforming sheets, and pediatric dental products. The company also provides machines for manufacturing thermoforming sheets, biocompatible 3D printing resins, and clear aligners under the Taglus brand. As of September 30, 2024, the company operates six manufacturing facilities and five support facilities across India.

Financially, the company has shown growth, with assets increasing from ₹96.54 crore in FY23 to ₹134.52 crore in FY24, and revenue rising from ₹163.84 crore to ₹195.26 crore during the same period. Profit After Tax (PAT) significantly improved from -₹4.16 crore to ₹25.23 crore, although debt also increased from ₹31.44 crore to ₹42.03 crore.

**Disclaimer:** *This information is for informational purposes only. Investment in the market is subject to market risks. Always consult with an expert before investing. Moneycontrol does not recommend any specific investment.*

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