Laxmi Dental IPO to close for bidding: Should you invest? Check latest GMP

Laxmi Dental IPO is expected to be listed on both the BSE and NSE, with the tentative listing date scheduled for Monday, January 20, 2025.

In Short

• Laxmi Dental IPO subscribed over 90 times
• Price band set between Rs 407-428 per share
• Allotment for shares to be completed on January 16

The initial public offering (IPO) of Laxmi Dental Limited saw strong subscription numbers as investors showed huge interest, with the public issue subscribed over 90 times as of the latest update on Wednesday.

Laxmi Dental IPO will remain open for subscription until January 15, 2024 with allotment for shares expected to be completed on January 16, 2025.

Breaking down the numbers, retail investors put in bids for 65.4 times more shares than were available in their category. Qualified Institutional Buyers (QIBs), which include mutual funds and foreign investors, bid for about 81 times their portion.

The most enthusiastic response came from Non-Institutional Investors (NIIs), typically wealthy individuals and family offices, who bid for a massive 134 times their allocated shares as of 3:09 PM on the last day of the IPO.

The price band for the IPO has been set between Rs 407 and Rs 428 per share. Retail investors can apply for a minimum of 33 shares, translating to an initial investment of Rs 14,124. For small non-institutional investors (sNII), the minimum application size is 15 lots, which equals 495 shares and requires an investment of Rs 2,11,860.

Meanwhile, for large non-institutional investors (bNII), the minimum requirement is 71 lots, or 2,343 shares, amounting to Rs 10,02,804.

SHOULD YOU SUBSCRIBE?

Master Capital Services Ltd in its IPO report said that the global dental consumables market is expected to grow at a CAGR of 10.5% from USD 177.4 billion in 2023 to USD 356.8 billion in 2030, and emerging countries such as India and China are expected to witness higher growth compared to developed countries.

It further added that the company is one of the very few organised players in dental laboratories segment having sufficient scale of operations, following quality standards, and catering to both domestic and international markets.

"The company continues to scale up branded product offerings and undertake product enhancements of existing dental products and launch new dental products. Investors looking to invest can invest in the IPO for the long term," said Master Capital Services Ltd.

LATEST GMP FOR LAXMI DENTAL IPO

The latest grey market premium (GMP) for the Laxmi Dental IPO stands at Rs 125 as of January 13, 2025, at 10:55 AM.

Given the IPO's price band of Rs 428, the estimated listing price is projected to be around Rs 553. This calculation is based on adding the cap price to the current GMP. If these projections hold, investors could see an estimated gain of 29.21% per share upon listing.

Laxmi Dental IPO raised Rs 314.13 crore from anchor investors ahead of opening for subscription.

Laxmi Dental IPO is expected to be listed on both the BSE and NSE, with the tentative listing date scheduled for Monday, January 20, 2025.

(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)