Laxmi Dental is scheduled to finalize the basis of allotment of its shares on Thursday, January 15. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, January 16. The dental products player had received a strong response from the investors during the three-day bidding.
The IPO of Laxmi Dental was open for bidding between January 13 and January 15. It had offered its shares in the price band of Rs 407-428 per share with a lot size of 33 shares. The company raised a total of Rs 698.06 crore from its IPO, which includes a fresh share sale of Rs 138 and an offer-for-sale (OFS) of up to 1,30,85,476 equity shares.
The issue was overall subscribed a whopping 114.42 times, thanks to an all-round bidding, attracting bids for around Rs 44,000 crore. The quota for qualified-institutional bidders (QIBs) was subscribed 110.30 times. The portion for non-institutional investors (NIIs) was booked 147.95 times, while allocation for retail investors was booked 76.24 times during the bidding process.
Grey market premium (GMP) of Laxmi Dental has seen some correction in its grey market premium (GMP) amid the rising volatility in the broader markets. Last heard, the company was commanding a premium of Rs 125-130 in the unofficial market, suggesting a listing pop of up to 30 per cent for the investors. The GMP stood at Rs 160 before the bidding kicked-off.
Laxmi Dental, incorporated in July 2004, is an integrated dental products company. It offers custom crowns and bridges, branded dental items like clear aligners and thermoforming sheets, aligner-related products as part of its aligner solutions, and pediatric dental products.
Motilal Oswal Investment Advisors, Nuvama Wealth Management and SBI Capital Markets are the book running lead managers of the Laxmi Dental IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE on January 20, 2025, Monday.
Investors, who had bid for the issue of Laxmi Dental, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Laxmi Dental Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.