Laxmi Dental listing: Shares debut at 27% premium over IPO issue price

Laxmi Dental shares made their D-Street debut on Monday after record response during the subscription process. On the BSE, the stock debuted at Rs 528 per share as against the IPO issue price of Rs 428 per share, while on the NSE it listed at a price of Rs 542, marking a premium of 26.64 per cent.

The public issue of the country's top dental laboratories received a whopping subscription to the tune of 114.42 times, led by non-institutional investor class which bid for 148 times the allocation available to them. 

The Rs 698.06 crore public issue was a mix of fresh share issue of 0.32 crore shares valued at Rs 138 crore together with an offer for sale (OFS) of 1.31 crore shares worth as much as Rs 560.06 crore. 

The minimum lot size for an application was 33 shares, requiring a minimum investment of Rs 14,124 crore. 

Post the listing, promoters shareholding in the company will be reduced to 42.68 per cent from the earlier 46.56 per cent.

Pre-listing view

Zee Business Managing Editor Anil Singhvi said issue got huge response and was subscribed 114 times. The expert forecasted the issue to list at a price between Rs 540-560 per shares. 

The expert said that we advised to subscribe to the public issue for long term as well as for reasonable listing gains. Further, on how to trade the stock post listing, Singhvi advised short term investors can HOLD with stoploss at 520 and keep trailing it.

About Laxmi Dental 

Incorporated in 2004, the company is among the country's top dental laboratories by revenue for FY23. As a vertically integrated dental aligner company, it is the largest and most profitable indigenous B2B2C provider in terms of operational revenue and PAT margin.

The company is engaged in manufacturing teeth crowns & bridges, aligners, thermoforming sheets and children's dental health products.