Laxmi Dental IPO GMP Slides Ahead of Listing Next Week; Allotment Expected Today

The mainboard issue of Laxmi Dental IPO, aiming to raise Rs 698.06 crore from the primary markets, is set to finalised the share allotment status on Jan. 16.

Ahead of the key launch, the issue had 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 160 apiece on Jan. 12, according to InvestorGain. This projected a listing gain of 37.38% on the upper end of the price band. However the grey market premium slid on the last day of bidding despite witnessing strong interest from the investors.

Laxmi Dental IPO GMP today is Rs 126 as of 12:50 p.m. on Jan. 16. This indicates Laxmi Dental share price was trading at a premium of Rs 126 in the grey market, according to IPO tracking site Investorgain.com.

Considering the IPO price band's upper end and the grey market's current premium, the estimated listing price of Laxmi Dental share price is indicated at Rs 554 per share, which is 29.33% higher than the IPO price of Rs 60.

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

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 had to buy at least a single lot of 33 shares in the Laxmi Dental IPO. This took 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. Investors who bid for the issue can check the Laxmi Dental IPO allotment status by following the steps provided here.

The company 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.