Laxmi Dental IPO: Share Allotment Finalized, GMP Hints Strong Listing; How To Check Status Online?

Laxmi Dental Limited, a provider of dental solutions, finalized its allotment on January 16, 2025. The company's IPO has garnered significant attention from investors, being oversubscribed by 114 times.

How to Check Laxmi Dental IPO Allotment Status?

Investors can conveniently check their allotment status through various platforms, including the BSE, NSE, and Link Intime India.

Steps to Check on BSE:

Visit the Application Status page on the BSE website.
Select 'Equity' and choose 'Laxmi Dental Ltd.' from the company list.
Enter the IPO application number or PAN details.
Confirm by checking the 'I am not a Robot' box and click 'Submit.'

Steps to Check on NSE:

Visit the NSE website and select 'LAXMIDENTL' from the dropdown menu.
Enter the PAN and application number.
Click 'Submit' to view your status.

Steps to Check on Link Intime India:

Visit the Link Intime India website.
Choose 'Laxmi Dental Limited' from the company list.
Enter details such as the Application Number, DP/Client ID, or PAN.
Click 'Submit' to access the allotment status.

IPO Details

The IPO comprises a total issue size of Rs 698.06 crore, including:
Fresh Issue: Rs 138 crore (0.32 crore shares).
Offer for Sale (OFS): Rs 560.06 crore (1.31 crore shares).

Key Dates:

Subscription Period: January 13-15, 2025.
Allotment Finalization: January 16, 2025.
Listing Date: January 20, 2025, on BSE and NSE.

Price Band & Lot Size:

Price Band: Rs 407-428 per share.
Minimum Lot Size: 33 shares, requiring a retail investment of Rs 14,124.

Use of IPO Proceeds

The proceeds from the fresh issue will be strategically utilized to bolster the company's financial position and support its growth initiatives. These include repaying or prepaying certain borrowings to reduce debt, investing in capital expenditures such as new machinery for Laxmi Dental and its subsidiary, Bizdent Devices Private Limited, and allocating funds for general corporate purposes to enhance operational flexibility.

Subscription Status

On the final day of bidding, January 15, 2025, the Laxmi Dental IPO was subscribed 114.42 times. The retail category subscribed 76.23 times, Qualified Institutional Buyers (QIB) subscribed 110.38 times, and Non-Institutional Investors (NII) subscribed 147.95 times.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for the Laxmi Dental IPO stands at Rs 126. With the upper price band set at Rs 428, the estimated listing price is Rs 554, indicating a 29.44% potential listing gain.

Business Overview

Established in July 2004, Laxmi Dental Limited is a leader in the dental solutions industry. The company specializes in designing, manufacturing, and distributing an array of innovative products, including custom crowns and bridges, clear aligners, thermoforming sheets, and pediatric dental solutions.

Operating under its flagship brand Taglus, Laxmi Dental also offers biocompatible 3D printing resins and advanced machines for manufacturing clear aligners. With a fully integrated business model, the company maintains control over its entire production process. The company's global footprint spans over 90 countries.