Laxmi Dental IPO Allotment Today: Check Status, Listing Date And More

Laxmi Dental Ltd. is set to finalise the allotment of shares in its Rs 698.06-crore initial public offering (IPO) on Jan. 16. The mainboard issue received a strong response from investors during the three-day bidding window from Jan. 13 to Jan. 15.

The IPO was oversubscribed by over 114.42 times. Investors placed bids for 1,02,63,84,315 shares in comparison to 89,70,371 shares offered. Non-institutional investors bid the heaviest, subscribing their allocation 147.95 times. NIIs placed bids for 36,19,65,549 shares surpassing the 24,46,464 shares offered.

The qualified institutional buyers (QIB) allocation in Laxmi Dental IPO was booked more than 110.38 times with bids for 54,00,81,366 shares against 48,92,931 shares offered.

Retail investors bid for 12,43,37,400 shares in comparison to 16,30,976 shares available, resulting in an over-subscription of 76.23  times.

A book-built issue, Laxmi Dental IPO consisted of a fresh issue of 32 lakh shares worth Rs 138 crore and an offer-for-sale component of 1.31 crore shares aggregating to Rs Rs 560.06 crore. The issue price band was set in the range of Rs 407 to Rs 428 at a face value of Rs 2 apiece.

Investors who bid in Laxmi Dental IPO can check the allotment status online via the official websites of the National Stock Exchange, BSE and the issue's registrar, Link Intime India Pvt. Ltd.

• Open the Application Status page of BSE here.

• Choose 'Equity'.

• Select 'Laxmi Dental Ltd.' from the company names.

• Enter the application number of the IPO or PAN details.

• Check on the 'I am not a Robot' box.

• Click on the Submit button to check the details of the allotment status.

• Go to the official website of Link Intime India here.

• Under the list of companies option, choose 'Laxmi Dental Limited'.

• Choose between the Application Number, Demat account number or PAN.

• Type in the details based on the option you chose in the last step.

• Clear Captcha.

• View allotment status after clicking Submit.

Investors can further check the allotment status online via NSE's website by logging into their account or creating a new registration.

Shares of Laxmi Dental Ltd. are expected to make market debut on NSE and BSE on Jan. 20.

Laxmi Dental Ltd. is expected to credit the shares into the demat account of successful bidders on Jan. 17. Initiation of refunds for the non-allottees will also be done on the same day.

Laxmi Dental Ltd. has proposed to use the net proceeds from the IPO to fund the settlement of debts and capital expenditure on the purchase of new machinery. Further, the money will also be used for investment in the company's subsidiaries and general corporate purposes.