Laxmi Dental Shares List at 27% Premium on NSE
Strong Listing on Exchanges
Laxmi Dental shares debuted on the exchanges with a strong premium of 27 percent on January 20th, following a healthy subscription of 114 times in the primary market. The shares of OrbiMed-backed Laxmi Dental Ltd were listed at ₹542 per share on the NSE platform, a premium of 26.64 percent against its issue price. The initial public offering (IPO), which was valued at ₹698 crore, was priced between ₹407 and ₹428.
The company's market capitalization after the listing of shares stood at ₹2,978.95 crore. On the BSE, the shares of Laxmi Dental were listed at ₹528, a premium of 23.36 percent.
About Laxmi Dental
Laxmi Dental operates as a vertically integrated provider of dental solutions, offering a diverse range of products including custom-made crowns, bridges, aligner solutions, and paediatric dental products.
Analyst Insights
Prathamesh Masdekar, a Research Analyst at Stoxbox, highlighted that the shift from unorganized to organized players in the dental industry, rising awareness around dental aesthetics, and growing demand for metal-free dental products are key drivers for the company's future growth. Masdekar recommended that investors who received an allotment should consider holding the stock for the medium to long term, given its growth potential.
IPO Proceeds Utilization
The company aims to use the net proceeds from the IPO for several purposes, including debt repayment, funding capital expenditure, investing in its subsidiary Bizdent Devices Pvt Ltd, and general corporate purposes.
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