The allotment of Laxmi Dental IPO shares is expected to be finalised today, Thursday, January 16, 2025. The public issue closed for subscription on Wednesday, January 15, 2025, receiving enthusiastic participation from investors, with an oversubscription of 114.42 times.
The issue saw the strongest demand from Non-Institutional Investors (NIIs), who oversubscribed their portion by 147.95 times. This was followed by Qualified Institutional Buyers (QIBs), who submitted bids 110.38 times their designated quota, while Retail Individual Investors (RIIs) subscribed 76.24 times the portion set aside for them.
Investors can check their status on the official websites of BSE, NSE or Link Intime India, the registrar of the issue. The shares are expected to list on the BSE and NSE on Monday, January 20.
Steps to check Laxmi Dental IPO Allotment Status on BSE:
Visit the Application Status page of BSE here
Choose 'Equity' as the issue type
Select 'Laxmi Dental Ltd.' from the company names.
Enter your application number or PAN details
Check on the ‘I am not a Robot’ box
Click on the Submit button and you allotment status will appear
How to check Laxmi Dental IPO allotment status on Link Intime India:
Visit the official registrar's page for the issue using this URL: https://linkintime.co.in/initial_offer/
Select the company from the dropdown menu
Enter you application number, PAN or DP Client ID
Press the Submit button
You allotment status will appear on your screen
Laxmi Dental IPO GMP
The unlisted shares of Laxmi Dental were commanding a grey market premium of Rs 126 as of January 16, 6:57 AM, according to investorgain.com. Laxmi Dental IPO has a price range of Rs 428 per share. Based on the current Grey Market Premium (GMP), the expected listing price is Rs 554, suggesting a potential listing gain of 29.44% per share.
Laxmi Dental IPO Objective
The company aims to utilize the proceeds from the issue for repayment or prepayment of certain outstanding borrowing by the company, funding the capital expenditure requirements for purchasing news machinery, investment in subsidiary Bizdent Devices Pvt Ltd and general corporate purposes.
About the company
Laxmi Dental Ltd, India’s only end-to-end integrated dental product company, offers a wide range of dental products across three verticals: Laboratory Offerings (custom crowns & bridges), Aligner Solutions (clear aligners), and Paediatric Dental Products (pre-formed crowns, space maintainers, etc.). The company uses a B2B2C business model, selling clear aligners through a network of over 22,000 dental clinics, companies, and dentists, making the product more affordable with flexible payment options.
Laxmi Dental specializes in metal-free crowns and bridges, with its premium Illusion Zirconia brand contributing to more than 50% of its domestic dental laboratory revenue. In 2024, the company launched iScanPro, an intraoral scanner, and digital impressions have become a major part of its dental restoration sales. The company exports to over 90 countries, establishing a strong international footprint.
With six manufacturing facilities located across India, including Mumbai, Boisar, and Kochi, Laxmi Dental also has support centers in key cities such as Delhi and Bengaluru. As of September 30, 2024, the company continues to experience rapid growth, fueled by its expansive dental network and the increasing shift towards digital dentistry.
