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Laxmi Dental IPO Oversubscription Hits 114 Times! Allotment, Listing Date & GMP Update

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Are you among the many investors who bid for the Laxmi Dental IPO? If so, you’re not alone. The Laxmi Dental IPO has attracted unprecedented attention from investors across categories, leading to an oversubscription of 114 times. This response showcases the strong demand and investor confidence in the company’s prospects. 

However, with such high levels of interest, many are left wondering about the next steps. How will the allotment process work? What can investors expect on the listing day? And what role does the grey market premium (GMP) play in shaping expectations? We’ll break down each aspect step by step, helping you navigate through the allotment status, listing details, and market trends with ease.

Laxmi Dental IPO Subscription Details

The Laxmi Dental IPO opened for public subscription on January 13, 2025, and closed on January 15, 2025. It raised ₹698.06 crore, comprising a fresh issue of 32.24 lakh equity shares aggregating ₹138 crore and an offer for sale (OFS) of 1.31 crore shares worth ₹560.06 crore. The IPO price band was set between ₹407 and ₹428 per share.

Investor CategorySubscription (times)Shares OfferedSharesbid forTotal Amount (₹ Cr.)*
Anchor Investors173,39,39573,39,395314.13
Qualified Institutions110.3848,92,93154,00,81,36623,115.48
Non-Institutional Buyers147.6924,46,46436,13,21,15815,464.55
bNII (bids above ₹10L)167.6816,30,97627,34,89,21611,705.34
sNII (bids below ₹10L)107.78,15,4888,78,31,9423,759.21
Retail Investors75.116,30,97612,24,80,6885,242.17
Total114.1489,70,3711,02,38,83,21243,822.20
Source: Mint

The strong response on the final day highlights the high demand across all investor categories.
If you were to look at the day-wise subscription details:

DateQIBNIINII (> ₹10L)NII (< ₹10L)RetailTotal
Day 1Jan 13, 20250.1310.8910.5811.5212.615.33
Day 2Jan 14, 20250.8437.4439.3833.5729.6516.06
Day 3Jan 15, 2025110.38147.69167.68107.775.1114.14

Allotment Details

With bidding now closed, the focus shifts to allotment. Laxmi Dental is expected to finalise the basis of share allotment on Thursday, January 16, 2025. Here’s a step-by-step guide to checking the allotment status:

Laxmi Dental IPO Allotment Status on BSE

  1. Visit BSE website on this link – BSE Allotment Status.
  2. Select ‘Equity’ in the Issue Type.
  3. Choose ‘Laxmi Dental Limited’ in the Issue Name dropdown menu.
  4. Enter either Application No. or PAN.
  5. Verify by ticking on ‘I am not robot’ and click on ‘Search’.

Your Laxmi Dental IPO allotment status will be displayed on the screen.

Laxmi Dental IPO Allotment Status on Link Intime

  1. Visit IPO registrar website on this link – Link Intime Allotment Status.
  2. Choose ‘Laxmi Dental Limited’ in the Select Company dropdown menu.
  3. Select among PAN, App. No., DP ID, or Account No.
  4. Enter the details as per the option selected.
  5. Click on Search.

Your Laxmi Dental IPO allotment status will be displayed on the screen.

Alternatively, you can check allotment status on the BSE or NSE websites.

Key DatesEvent
January 16, 2025Allotment Finalisation
January 20, 2025IPO Listing on BSE & NSE
Source: Mint

Refunds and Credit of Shares

For those who do not receive an allotment, refunds will be initiated on the same day as the allotment finalization. Successful bidders will have their equity shares credited to their demat accounts promptly.

Grey Market Premium (GMP) Update

Laxmi Dental shares are already creating a buzz in the grey market. The current GMP stands at ₹127 per share, suggesting strong investor sentiment. Here’s what the numbers indicate:

  • Issue Price: ₹428 per share
  • GMP: ₹127 per share
  • Estimated Listing Price: ₹555 per share
  • Premium: 29%

This bullish trend signals optimism among unlisted market investors ahead of the official listing.
Source: Mint

Use of IPO Proceeds

According to the Red Herring Prospectus (RHP), the proceeds from the fresh issue will be allocated to:

  • Debt Repayment: Reducing financial liabilities.
  • Capital Expenditure: Supporting operational growth.
  • Subsidiary Investment: Funding Bizdent Devices Pvt Ltd.
  • General Corporate Expenses: Meeting miscellaneous costs.

Laxmi Dental, a fully integrated dental products company, offers a diverse portfolio ranging from tailor-made crowns and bridges to branded products such as aligner solutions and pediatric dental care items.

Steps to Prepare for the Listing Day

If you’ve been allotted shares, here’s what to keep in mind ahead of the listing on Monday, January 20, 2025:

  1. Monitor Market Trends: Observe pre-listing trends to gauge potential price movements.
  2. Set Realistic Expectations: While the GMP indicates a premium, market dynamics can fluctuate.
  3. Track Listing Details: Shares will be listed on BSE and NSE simultaneously.

Conclusion

The Laxmi Dental IPO’s massive oversubscription reflects robust investor confidence in the company’s growth prospects and market position. With allotment and listing dates fast approaching, all eyes are on how the shares will perform in the public market. Stay informed and check your allotment status to be prepared for the next steps.

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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

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