Laxmi Dental's IPO has got a strong start on the stock exchange. Laxmi Dental's IPO has been listed on the stock exchange at Rs 542 with a jump of 27 percent from the issue price of Rs 428. Even after listing, the stock did not stop rising and due to the buying by investors, the stock has reached Rs 584 with a jump of 36.44 percent. That is, on the very first day of listing, Laxmi Dental's stock has made a profit of Rs 156 to the shareholders.
Laxmi Dental's share has been listed at Rs 528 on NSE and Rs 528 on BSE against the issue price of Rs 428. Laxmi Dental's IPO was open for application today from 13 to 15 january 2025 and the company has raised Rs 698.06 crore from the market through IPO. The price band of the IPO was fixed at Rs 407-428 per share. In this IPO of Rs 698.06 crore, Rs 138 crore has been raised through fresh issue i.e. by issuing new shares and Rs 560.06 crore has been raised by offloading 1.31 crore shares in the offer for sale. The company has raised Rs 314 crore from anchor investors.
Laxmi Dental's IPO received a great response even after the bad mood of the market. The IPO was subscribed a total of 114.14 times, in which the reserved quota for institutional investors was subscribed 110.38 times, the quota of non-institutional investors was subscribed 148 times and the quota of retail investors was subscribed 75 times. Nuvama Wealth Management Limited, Motilal oswal Investment Advisors Limited and sbi Capital Markets are the book running lead managers of this IPO.
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