Laxmi Dental shares zoom over 13% as ICICI Prudential MF buys nearly 3% stake; key details to know

According to the bulk deal data on the BSE and NSE, ICICI Prudential Mutual Fund (MF) purchased 8.62 lakh equity shares on the NSE, and it acquired 7.38 lakh shares on the BSE, representing a combined 2.91% stake in Laxmi Dental.

The combined transaction was valued around ₹48.51 crore and was executed at an average price of ₹303 apiece on the exchanges, said a PTI report.

Meanwhile, Abu Dhabi Investment Authority (ADIA) offloaded a total of 11.16 lakh shares, or a 2.03% stake, in Laxmi Dental for ₹33.82 crore.

After the stake sale, ADIA's holding in Laxmi Dental has come down to 1.15% from 3.18%.

The shares were disposed of in the price range of ₹303-₹303.01 apiece on both the BSE and the National Stock Exchange (NSE).

Details of other sellers of Laxmi Dental's shares could not be ascertained on the exchanges, PTI reported.

Shares of the company on Monday ended at ₹306.70 apiece on the NSE on Monday, up 0.25%.

Laxmi Dental: IPO and listing details

The initial public offering (IPO) of Laxmi Dental Ltd garnered 113.97 times subscription on the closing day of bidding, i.e., January 15, 2025.

The initial share sale received bids for 1,02,23,24,391 shares against 89,70,371 shares on offer, as per NSE data.

The portion for non-institutional investors fetched a 147.51 times subscription, while the category for Qualified Institutional Buyers (QIBs) got subscribed 110.38 times. The quota for Retail Individual Investors (RIIs) received 74.41 times subscription.

The initial public offer of Laxmi Dental Ltd got fully subscribed within minutes of opening for bidding on Monday.

OrbiMed-backed Laxmi Dental collected a little over ₹314 crore from anchor investors.

Listing details

Shares of Laxmi Dental Ltd on January 20, 2025, listed with a premium of nearly 27% against the issue price of ₹428.

The stock made its debut at ₹528, a jump of 23.36% from the issue price on the BSE.

On the NSE, it listed at ₹542, rallying 26.63%.

The initial public offer of Laxmi Dental Ltd garnered 113.97 times subscription on the closing day of bidding on Wednesday.

The initial share sale had a price band of ₹407-₹428 per share.

The IPO had a combination of a fresh issue of equity shares for up to ₹138 crore and an OFS of up to 1.31 crore equity shares worth ₹560 crore by promoters -- Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant – and other shareholders, according to the Red Herring Prospectus (RHP).

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

Laxmi Dental, an end-to-end integrated dental products company, has a comprehensive portfolio that includes custom-made crowns and bridges and branded dental products like aligner solutions and paediatric dental products.