Laxmi Dental Ltd. News and Updates

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Laxmi Dental Ltd.

13 Jan 2025

339.30

0.68%

Laxmi Dental IPO receives 5.28 times subscription on first day of bidding

Business Standard

The initial public offer of Laxmi Dental Ltd got fully subscribed within minutes of opening for bidding on Monday and finally ended the day with 5.28 times subscription. The initial share sale received bids for 4,73,96,250 shares against 89,70,371 shares on offer, translating into 5.28 times subscription, according to data available with the NSE. The portion for Retail Individual Investors (RIIs) fetched 12.40 times subscription while the category for non-institutional investors got subscribed 10.85 times. The quota for Qualified Institutional Buyers (QIBs) received 13 per cent subscription. OrbiMed-backed Laxmi Dental has collected a little over Rs 314 crore from anchor investors. The issue with a price band of Rs 407-428 per scrip will conclude on January 15. The IPO is a combination of a fresh issue of equity shares for up to Rs 138 crore and an OFS of up to 1.31 crore equity shares worth Rs 560 crore by promoters -- Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, and other