Laxmi Dental IPO Listing: The equity shares of Laxmi Dental Ltd are set to make their debut in the Indian stock market today after its initial public offering (IPO) received stellar response. Laxmi Dental IPO listing date is today, January 20.
Laxmi Dental IPO was open for subscription from January 13 to 15, and the IPO allotment was finalised on January 16. Laxmi Dental shares will be listed on both the stock exchanges, BSE and NSE, today.
“Trading Members of the Exchange are hereby informed that effective from Monday, January 20, 2025, the equity shares of Laxmi Dental Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on the BSE said.
Laxmi Dental shares will be a part of Special Pre-open Session (SPOS) on Monday, January 20, 2025, it added, and the trading in the stock will begin at 10:00 AM.
Laxmi Dental IPO was subscribed by a massive 114.42 times in total as investors booked 102.63 crore equity shares, compared to the 89,70,371 shares on offer.
Ahead of the Laxmi Dental share listing today, the trends in the grey market premium (GMP) and analysts indicate a strong debut of shares.
Laxmi Dental shares are showing a bullish trend in the grey market with a strong GMP. According to stock market observers, Laxmi Dental IPO GMP today is ₹145 per share. This indicates that in the grey market, Laxmi Dental shares trading higher by ₹145 apiece than their issue price.
Considering the Laxmi Dental IPO GMP today, the estimated listing price of Laxmi Dental shares would be ₹573 apiece, a premium of 34% to the issue price of ₹428 per share.
Analysts also expect Laxmi Dental share listing to be at a decent premium of around 25% - 30% to the IPO price.
“Laxmi Dental Ltd IPO has seen significant demand, oversubscribed by 114.14 times. The company is set for an impressive market debut today, with expectations of a 29% premium over its upper price band. Laxmi Dental is among the few vertically integrated players globally and India's only vertically integrated company. Its established market presence and experience in manufacturing quality products will help it build and scale future brands,” said Prathamesh Masdekar, Research Analyst, Stoxbox.
He believes that factors such as the shift from the unorganized to the organized segment, greater awareness and adoption of dental aesthetics and a shift towards metal-free products are likely to drive growth for the company.
“We thus recommend that investors allotted shares consider holding their positions from a medium to long-term perspective,” Masdekar added.
Despite ongoing market volatility and premium valuations, Laxmi Dental received a healthy 114x response from all sets of investors. NII category investor demand was very impressive at 147x times, while the QIB investors was oversubscribed 110x times. Meanwhile, the retail segment received healthy 75x times subscriptions.
“We believe the investors demand was on the back of the company being India’s only end-to-end integrated dental product company operating in a niche and growing dental solutions space commanding a higher valuation multiple. While considering the market trend and listing of Standard Glass Lining, we are expecting a healthy listing gain over and above 25% of its issue price. Hence we recommend conservative allotted investors can think of booking profits above our expectations on listing day. While long term investors should consider to HOLD IT FOR LONG TERM despite knowing short term volatility post listing & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post listing due to profit booking attempts,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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