Laxmi Dental IPO Day 3 Highlights: Allotment date focus after issue booked over 114 times; GMP, other key details

Laxmi Dental IPO Day 3 Highlights: The bidding for the initial public offering (IPO) of Laxmi Dental Ltd has ended on January 15. Laxmi Dental IPO received stellar demand from investors as the issue was subscribed by 114.42 times in total. As the bidding period has now ended, focus shifts on Laxmi Dental IPO allotment which is expected to be finalised soon.

OrbiMed-backed Laxmi Dental raised ?698.06 crore from the IPO, which was a combination of fresh issue of 32 lakh shares aggregating to ?138 crore and offer for sale of 1.31 crore shares worth ?560.06 crore. Ahead of the issue, the company mopped up over ?314 crore from anchor investors. Laxmi Dental IPO price band was ?407 and ?428 per share. 

According to the RHP, the net proceeds from the new share issue will be directed towards debt repayment, financing capital expenditure needs, investing in its subsidiary Bizdent Devices Pvt Ltd, and covering general corporate expenses. Laxmi Dental, a fully integrated dental products company, offers a wide range of products, including tailor-made crowns and bridges, and various branded dental items such as aligner solutions and pediatric dental products.