Thu Jan 16 17:10:00 UTC 2025: ## Laxmi Dental IPO Oversubscribed 114 Times, Listing Expected Today

**MUMBAI, January 16, 2025** – Laxmi Dental Limited, a leading manufacturer and distributor of dental products, is poised for its Initial Public Offering (IPO) listing today. The IPO, which closed yesterday, was massively oversubscribed, receiving bids 114.42 times its size.

Strong demand came from across investor categories. Retail investors subscribed 76.23 times their allotted portion, while Qualified Institutional Buyers (QIBs) subscribed 110.38 times. Non-Institutional Investors (NIIs) showed the most enthusiastic response, with a subscription rate of 147.95 times. This strong NII interest was driven by both large (bNII) and small (sNII) investors, who subscribed 167.68 and 108.49 times, respectively.

The company plans to use the IPO proceeds to reduce debt, invest in capital expenditures (including new machinery for both Laxmi Dental and its subsidiary, Bizdent Devices Private Limited), and for general corporate purposes.

Established in 2004, Laxmi Dental boasts a fully integrated business model, designing, manufacturing, and distributing a wide range of dental products, including custom crowns and bridges, clear aligners, and pediatric dental products. The company exports to over 90 countries.

The grey market premium (GMP) is currently estimated at ₹126, according to Business Standard, suggesting a potential listing price of ₹554 (based on the upper price band of ₹428). This represents a potential gain of 29.44%. **Investors are cautioned that the GMP is unofficial and based on speculation.** Potential investors are advised to conduct their own thorough due diligence before making any investment decisions.

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