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Shares of Lakshmi Dental Limited were listed at ₹542 today on the National Stock Exchange (NSE), 26.64% above the issue price. The share listed at ₹528 on the Bombay Stock Exchange (BSE), 23.36% above the issue price. The issue price of Lakshmi Dental’s IPO was ₹428.
This IPO was open for bidding from January 13 to January 15, which was subscribed a total of 114.14 times. The IPO was subscribed 75.1 times in the retail category, 110.38 times in the Qualified Institutional Buyers (QIB) category and 147.69 times in the Non-Institutional Investors (NII) category.
Lakshmi Dental’s IPO was worth ₹698.06 crore.
This issue total of Lakshmi Dental was ₹ 698.06 crore. For this, the company issued 32,24,299 fresh shares worth ₹138 crore. Investors of the company sold 1,30,85,467 shares worth ₹ 560.06 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 462 shares
Lakshmi Dental Limited had fixed the IPO price band at ₹407-₹428. Retail investors could bid for a minimum of one lot i.e. 33 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹ 428, you would have had to invest ₹ 14,124.
At the same time, retail investors could apply for a maximum of 14 lots i.e. 462 shares. For this, investors would have to invest ₹ 1,97,736 as per the upper price band.
10% of the issue was reserved for retail investors
The company had reserved 75% of the IPO for Qualified Institutional Buyers (QIB). Apart from this, 10% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).
Lakshmi Dental Limited was established in July 2004
Lakshmi Dental Limited is an integrated dental products company, established in July 2004. The company manufactures custom crowns and bridges, clear aligners, thermoforming sheets and other dental products such as pediatric dental.
The company also provides machines to make thermoforming sheets, biocompatible 3D printing resins and clear aligners under the Taglus brand name. The company works on a fully integrated model, which means they handle the entire process of dental products from design and manufacturing to distribution.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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