Thu Jan 16 04:47:53 UTC 2025: ## Laxmi Dental IPO Oversubscribed 114 Times

**Mumbai, January 16** – The initial public offering (IPO) of Laxmi Dental Ltd. concluded yesterday, attracting overwhelming investor interest. The issue was subscribed a staggering 114.42 times, exceeding expectations. The IPO, which raised ₹698.06 crore, consisted of a fresh issue of ₹138 crore and an offer for sale of ₹560.06 crore. Anchor investors had previously committed over ₹314 crore.

The strong demand was evident across investor categories: Non-institutional investors (NIIs) subscribed 147.95 times, retail investors 76.24 times, and qualified institutional buyers (QIBs) 110.38 times. The IPO price band was ₹407-₹428 per share.

Laxmi Dental, India’s only fully integrated end-to-end dental products company, plans to utilize the net proceeds from the fresh issue for debt repayment, capital expenditure, investment in its subsidiary Bizdent Devices Pvt Ltd, and general corporate expenses. The company boasts a wide product range, including custom-made crowns and bridges, and operates a significant B2B2C model.

While analysts at Master Capital Services lauded Laxmi Dental’s position in a growing market and its innovative offerings, they also noted concerns about the high valuation (a PE of 76.8x at the upper price band) and the large offer-for-sale component (80% of the total issue). They recommended the IPO only for risk-tolerant long-term investors.

The allotment of shares is expected shortly. The grey market premium (GMP) before the IPO closure indicated a potential listing price significantly higher than the IPO price band. However, investors are cautioned to conduct thorough due diligence before investing.

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