The Initial Public Offering (IPO) of Laxmi Dental opened for subscription on January 13 and is set to close today, January 15. The company plans to raise ₹698.06 crore through this IPO, offering its shares at a price band between ₹407 and ₹428 each. As the final day of subscription nears, there is strong investor interest in the offer.
Laxmi Dental IPO Subscription Status
The Laxmi Dental IPO has been subscribed a total of 23.19 times, indicating robust demand for the shares. Investors have bid for 20.80 crore shares, whereas the offer includes only 89.70 lakh shares. A breakdown of the subscription status shows the following:
- Retail Investors: The retail portion has been oversubscribed by a massive 39.49 times.
- Non-Institutional Investors (NII): The NII category has received 56.79 times the bids.
- Qualified Institutional Buyers (QIB): This category has seen a relatively lower subscription rate of 0.96 times.
This indicates that retail and NII investors are particularly interested in the Laxmi Dental IPO, while the QIB category has shown less demand.
The Grey Market Premium (GMP) for Laxmi Dental IPO shares is currently ₹142. The GMP gives an indication of the expected listing price of the shares once they are listed on the stock exchanges. Based on the current GMP, the estimated listing price could be around ₹570 per share, reflecting a potential listing gain of about 33.18% from the upper price band of ₹428.
It’s important to note that the GMP can fluctuate and is subject to change, as it reflects the demand in the unlisted market. While the GMP is a positive indicator of market sentiment, investors should remain cautious, as this is not a guaranteed outcome.
Important Dates to Remember
- IPO Allotment: The final allotment for the Laxmi Dental IPO will be announced on Thursday, January 16.
- Listing Date: The shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, January 20.
For retail investors interested in applying for the IPO, the minimum lot size is 33 shares, and they need to apply in multiples of 33 shares thereafter. The minimum investment required to participate in the IPO is ₹14,124.
In conclusion, the Laxmi Dental IPO has garnered significant attention, with strong subscription numbers and a positive grey market premium. Investors who are interested in the offering should carefully consider the company’s fundamentals and risks before making an investment decision.
