Laxmi Dental Opens IPO For Subscription, Check GMP Today

Backed by OrbiMed, the listing is made up of a fresh issuance of equity shares worth Rs 138 crore and an offer-for-sale (OFS) component of up to 1.31 crore equity shares worth Rs 560 crore.

The company’s shares will be allotted on January 16, while the listing will make its debut in the stock market on January 20, 2025.

Source : Groww

Laxmi Dental opens for subscription for investors today. The company’s initial public offering (IPO) will accept bids from the public till January 15, 2025. The maiden offer has been priced in the range of Rs 407 to Rs 428 apiece.

Backed by OrbiMed, the listing is made up of a fresh issuance of equity shares worth Rs 138 crore and an offer-for-sale (OFS) component of up to 1.31 crore equity shares worth Rs 560 crore. Promoters including Sameer Kamlesh Merchant, Rajesh Vrajlal Khakhar, and other shareholders are behind the OFS.

Anchor Round

In the anchor round, the firm allocated 73.39 lakh shares to 31 entities at Rs 428 apiece. The company raised over Rs 314 crore from anchor investors prior to the IPO. The round saw active participation from organisations such as HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF, Abu Dhabi Investment Authority, Nomura, AI Mehwar Commercial Investments, Max Life Insurance, Kotak MF, Natixis Investment Managers, Goldman Sachs, and Mirae Asset MF, among others.

Nuvama Wealth Management Limited, SBI Capital Markets Limited, and Motilal Oswal Investment Advisors Limited are the lead managers for the issue, while Link Intime India Private Ltd has been named the registrar for the IPO.

The company’s shares will be allotted on January 16, while the listing will make its debut in the stock market on January 20, 2025.

GMP Today

The company's maiden issue commanded a premium of Rs 150-160 apiece in the grey market, translating into a grey market premium of 35 per cent against the issue price. This indicated anticipation of a strong listing in the market from investors.

A grey market premium relfects the confidence of investors in the issue and how it would perform on its debut in the stock market. The grey market runs parallel to the official stock market and allows investors to place bets before the firm's shares begin trading officially.

[Disclaimer: Investing in the stock market involves financial risks. Please invest responsibly and only after thorough research and careful consideration. Reader discretion is advised.]