Thu Jan 16 04:23:21 UTC 2025: **Laxmi Dental IPO Oversubscribed 81 Times on Final Day**

**Mumbai, January 15, 2025** – The initial public offering (IPO) of Laxmi Dental, a leading integrated dental products company, concluded today with an overwhelming response, exceeding expectations by a significant margin. The three-day IPO was subscribed a staggering 81.89 times, with strong demand across all investor categories.

The issue, priced between Rs 401 and Rs 428 per share, aimed to raise Rs 698.06 crore. This included a fresh issue of Rs 138 crore and an offer-for-sale (OFS) of Rs 560.06 crore. The high level of subscription reflects strong investor confidence in the company’s growth prospects.

Non-institutional investors (NIIs) showed the most enthusiasm, subscribing 130.66 times their allotted portion. Retail investors also demonstrated strong interest, subscribing 63.91 times their allocation. Qualified institutional bidders (QIBs) subscribed 63.49 times.

While the grey market premium (GMP) has seen some correction recently, settling around Rs 125-130 per share, suggesting a potential listing pop of around 30%, brokerages remain largely positive. They cite the growing demand for dental products, opportunities for expansion, and the increasing shift towards organized dental solutions as key drivers. Concerns remain regarding rich valuations, a substantial OFS component, and competition from the unorganized sector.

Laxmi Dental, incorporated in 2004, offers a wide range of dental products, including custom crowns, branded items, aligner solutions, and pediatric dental products. The company reported a net profit of Rs 22.74 crore on a revenue of Rs 117.9 crore for the six months ending September 30, 2024. Prior to the IPO, it raised Rs 314.13 crore from anchor investors.

Shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 20, 2025. Motilal Oswal Investment Advisors, Nuvama Wealth Management, and SBI Capital Markets are the lead managers for the IPO.

Read More