Laxmi Dental IPO GMP Indicates Listing Gains Of Nearly 40%: See Latest Grey Market Premium

The mainboard issue of Laxmi Dental IPO, aiming to raise Rs 698.06 crore from the primary markets, is set to open on Jan. 13. Ahead of the key launch, the issue has been garnering strong interest in the unlisted market with a sharp uptick in the grey market premium. The Laxmi Dental IPO GMP surged to Rs 165 apiece as of 5:04 am on Jan. 10, according to InvestorGain. This projects a listing gain of 38.55% on the upper end of the price band if the current trends are sustained. The GMP trends suggest that the shares of Laxmi Dental Ltd. are set to list on the bourses, NSE and BSE, at Rs 593 apiece.

The mainboard issue of Laxmi Dental IPO, aiming to raise Rs 698.06 crore from the primary markets, is set to open on Jan. 13. Ahead of the key launch, the issue has been garnering strong interest in the unlisted market with a sharp uptick in the grey market premium. The Laxmi Dental IPO GMP surged to Rs 165 apiece as of 5:04 am on Jan. 10, according to InvestorGain. This projects a listing gain of 38.55% on the upper end of the price band if the current trends are sustained. The GMP trends suggest that the shares of Laxmi Dental Ltd. are set to list on the bourses, NSE and BSE, at Rs 593 apiece.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The Laxmi Dental IPO subscription window will be open for investors from Jan 13 to Jan. 15. Share allotment of the issue is likely to be done on Friday, Jan. 17. The shares of  Laxmi Dental Ltd. are likely to list on BSE and NSE on Monday, Jan. 20.

With a price band of Rs 407 to Rs 428 apiece, retail investors need to buy at least a single lot of 33 shares in the Laxmi Dental IPO. This takes the minimum investment amount to Rs 14,124.

The mainboard offer consists of a fresh issue of 32 lakh shares worth Rs 138 crore and an offer for sale of 1.31 lakh shares totalling Rs 560.06 crore. 

Link Intime India Pvt. is the registrar for the Laxmi Dental IPO. The book-running lead managers of the IPO are Nuvama Wealth Management Ltd., Motilal Oswal Investment Advisors Ltd. and SBI Capital Markets Ltd. 

In its red herring prospectus, Laxmi Dental said that it would use the proceeds from the fresh issue of its IPO to clear debts availed by the company and its subsidiaries. Part of the funds will also be used to buy machines for itself and its subsidiary Bizdent Devices Pvt. The rest of the proceeds will be used for general corporate purposes.

Integrated dental products company Laxmi Dental Ltd. offers a range of products like clear dental aligners, aligner-related products and custom crowns and bridges. 

Under the brand name of Talgus, the company offers thermoforming sheets, biocompatible 3D printing resins, and machines for manufacturing clear aligners.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.