Shares of Laxmi Dental settled 1.66% higher at ₹551 apiece after listing at a premium of 26.6% on the NSE.

Shares of Laxmi Dental Ltd, a dental products company, climbed 1.49% to ₹550.1 apiece on the NSE.

• Traded volume: 223.77 lakhs
• Traded value: ₹1,236.76 crore
• Total market cap: ₹3,066.61 crore

The shares are trading 3.69% higher at ₹562 apiece on the NSE.

• Current price: ₹552.2 (+1.88%)
• Issue price: ₹428
• Open: ₹542
• High: ₹584
• Low: ₹525

Laxmi Dental shares rise 1.88% to ₹552.2 apiece on the National Stock Exchange (NSE) after listing at 26.6% premium. On the BSE, the stock is up 4.66% to ₹552.6.

Shares of Laxmi Dental Ltd rose 2.78% to ₹557.05 apiece on the NSE. Its market capitalisation stands at ₹3,061.67 crore.

On the dividend policy, Laxmi Dental said, "The declaration and payment of dividends, if any, will be recommended by our Board and approved by our shareholders at their discretion, subject to the provisions of our Articles of Association and the applicable laws, including the Companies Act, 2013 together with the applicable rules issued thereunder."

It informed that no dividends had been declared or paid by the company as of the date of filing of the red herring prospectus.

Following the listing of Laxmi Dental shares, the shareholding of promoters Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant, and Dharmesh Bhupendra Dattani has been reduced to 41.7%.

The market capitalisation of Laxmi Dental stands at ₹3,122.67 crore as shares climbed 4.61% on the NSE.

Shares of dental products company Laxmi Dental are trading 2.74% higher at ₹556.85 apiece on the NSE.

Shares of Laxmi Dental Ltd were trading at ₹557.5 a unit, reflecting an increase of 2.86%, on the National Stock Exchange.

As per the red herring prospectus (RHP), the net proceeds from the fresh issuance of shares will be utilised for repayment of debt, investment in its subsidiary Bizdent Devices Pvt Ltd, and funding of capital expenditure requirements for general corporate purposes.

• Rajesh Vrajlal Khakhar, Chairperson and Whole-Time Director
• Sameer Kamlesh Merchant, Managing Director and Chief Executive Officer
• Sumona Chakraborty, Non-Executive, NonIndependent (Nominee) Director
• Anjana Rajendra Grewal, Independent Director
• Rajesh Shashikant Dalal, Non-Executive, Independent Director
• Devesh Ghanshyam Chawla, Non-Executive, Independent Director

Dental products company Laxmi Dental shares were trading 5.38% higher at ₹571.15 apiece on the NSE.

• Traded volume: 176.04 lakhs
• Traded value: ₹969.59 crore
• Total market cap: ₹3,127.07 crore

• Current price: ₹576.5(+6.35%)
• Issue price: ₹428
• Open: ₹542
• High: ₹570
• Low: ₹525

The market capitalisation of Laxmi Dental stands at ₹3,062.77 crore as shares are up 2.81% to ₹557.25 apiece on the NSE.

Shares of dental products company Laxmi Dental are trading flat at ₹541.9, down 0.02%, on the NSE.

After listing at a 26.64% premium, Laxmi Dental shares are trading at ₹538.7, down 0.61%, on the National Stock Exchange (NSE).

Laxmi Dental shares debuted at a 23.36% premium at ₹528 per share on the BSE against the issue price of ₹428 per share.

Laxmi Dental shares were listed at ₹542 apiece on the National Stock Exchange (NSE) on Monday, January 20, reflecting a premium of 26.64% over the issue price of ₹428 per unit.

In the pre-open market, Laxmi Dental shares trade at ₹542 a unit on the National Stock Exchange, a premium of 26.64% to the issue price of ₹428 apiece.

Shares of Laxmi Dental will make their secondary market debut shortly. The company's shares will be listed on the NSE and the BSE at 10 am on Monday, January 20.

Between the financial year 2021-22 (FY22) and FY24, the company's revenue from operations rose a compound annual growth rate (CAGR) of 18.93%, while profit after tax has been volatile. In FY24, the post-tax profit stood at ₹25.22 crore, while the firm reported a net loss in the previous fiscal year.

Laxmi Dental is a leading provider of business-to-business-to-consumer (B2B2C) dental aligner solutions. Its products include custom-made crowns and bridges, branded dental aligners, paediatric dental products, and advanced digital dentistry solutions.

SBI Capital Markets Ltd, Nuvama Wealth Management Ltd and Motilal Oswal Investment Advisors Ltd were the issue's book-running lead managers, while Link Intime India Pvt Ltd was the registrar.

The proceeds from the public offer will be used for the following purposes.

• Funds to the tune of ₹22.98 crore will be used for the repayment of of the company's debt in full or in part.
• The company will invest around ₹4.60 crore in certain subsidiaries for debt clearnance.
• The IPO proceeds to the tune of ₹43.51 crore will be used for capital expenditure requirement to buy new machinery.
• An investment worth ₹25 crore will be made in subsidiary Bizdent Devices Pvt Ltd to purchase new machinery.
• A part will be used for general corporate purposes.

The ₹698.06 crore initial share sale was a mix of fresh issuance of 0.32 crore shares valued at ₹138 crore and an offer-for-sale (OFS) of 1.31 crore shares worth ₹560.06 crore.

The minimum lot size for an application was 33 shares, requiring at least ₹14,124 as an investment. Meanwhile, the IPO issue size is approximately ₹698.06 crore.

The IPO, which is a book-building issue of ₹698.06 crore, had set a price band of ₹407 to ₹428 per equity share.

The Laxmi Dental IPO was open for subscription from January 13 to January 15. The allotment status was finalised on January 16.

Shares were credited to the Demat account of successful investors on January 17. Refunds for unsuccessful investors were initiated on the same day.

Laxmi Dental shares will make secondary market debut on Monday, January 20.

The IPO received bid for 1,02,63,84,315 shares compared to 89,70,371 equity shares reserved. This means a total subscription of 114.42 times, as per the NSE data.

The non-institutional investors subscribed to their category 147.95 times, while the qualified institutional buyers portion received 110.38 times the subscription.

Retail individual investors part was subscribed 76.23 times.

Laxmi Dental Ltd's shares will be listed on the National Stock Exchange (NSE) and the BSE on Monday, January 20, at 10 a.m.

According to the NSE data, the ₹698.06 crore initial public offer received bids for 1,02,63,84,315 equity shares against 89,70,371 shares on offer, taking the total subscription to 114.42 times.

Laxmi Dental is an integrated dental products company. Its extensive portfolio includes pediatric dental products, custom-made crowns and bridges, and dental offerings such as aligner solutions.