Laxmi Dental shares made a decent debut on the stock exchanges on Monday, January 20, 2025. On the National Stock Exchange (NSE), Laxmi Dental IPO listing price was Rs 542 per share, reflecting a listing gain of 26.6 per cent or Rs 114, as against the issue price of Rs 428.

Similarly, on the BSE, Laxmi Dental shares listed at Rs 528 apiece, commanding a premium of 23.3 per cent or Rs 100, as compared to its initial public offering (IPO) issue price.

Laxmi Dental's IPO listing performance was slightly below the grey market expectations. Ahead of the debut, Laxmi Dental IPO GMP (grey market premium) stood at Rs 145 or 33.88 per cent, as per sources tracking grey market activities.

With a price band of Rs 407 to Rs 428 per share, Laxmi Dental IPO opened on Monday, January 13, 2025, and concluded its subscription on Wednesday, January 15, 2025. The basis of allotment was finalised on Thursday, January 16, 2025.

Laxmi Dental IPO was a book-built issue of Rs 698.06 crore, which combined fresh issue of 3.2 million shares, aggregating to Rs 138 crore, and an offer for sale (OFS) of 13.1 million shares, aggregating to Rs 560.06 crore. The lot size was 33 shares and the public issue was subscribed 60.02 times, according to NSE data.

The proceeds of the IPO are said to be utilised for the repayment of borrowings, investment in certain subsidiaries for the repayment of borrowings, funding the capital expenditure requirements for purchasing new machinery, investment in the subsidiary, Bizdent Devices for the capital expenditure requirements for the purchase of new machinery and for general corporate purposes.

Link Intime India was the registrar for the IPO, while Nuvama Wealth Management, Motilal Oswal Investment Advisors, and SBI Capital Markets were the book-running lead managers.

Laxmi Dental is an integrated dental products company. The company 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. Their product portfolio includes custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental products, and more. The company offers thermoforming sheets, biocompatible 3D printing resins, and machines for manufacturing clear aligners under the brand name Taglus.