Laxmi Dental IPO fully subscribed within hours on opening day; check lot size, key dates

Laxmi Dental IPO: The initial public offer of OrbiMed-backed Laxmi Dental was fully subscribed within hours of opening for subscription on Monday, January 13.

The issue has received bids for 99.78 lakh shares as compared to 89.70 shares on offer, leading to 1.11 times subscription until 11:22 am.

Non-institutional investors (NIIs) portion was subscribed 1.52 times, as they received bids for 37.27 lakh shares against 24.46 lakh shares on offer.

The category reserved for retail investors was booked 3.83 times, as they applied to 62.48 lakh shares compared to 16.30 lakh shares set aside.

The issue, with a price range of ₹407-₹428 per share, will conclude on Wednesday, January 15.

The IPO is a mix of new equity shares valued at ₹138 crore as well as an offer-for-sale worth ₹560 crore by the company's promoters.

The net proceeds from the fresh issuance of shares will be used to clear debt, fund capital expenditure requirements, invest in its subsidiary Bizdent Devices Private Limited and for general corporate purposes.

According to the BSE circular, the Mumbai-based firm allotted 73.39 lakh shares to 31 entities at the upper end of the price band, at ₹428 per share.

Laxmi Dental IPO lot size

The minimum application size is 33 shares, which is worth ₹14,124.

Laxmi Dental IPO: Key dates

• Bidding dates: January 13 to January 15
• Basis of Allotment: January 16
• Initiation of refunds: January 17
• Credit of shares to Demat: January 17
• Listing Date: January 20