Mumbai4 days ago
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The initial public offer i.e. IPO of Lakshmi Dental Limited was subscribed a total of 113.97 times. This issue was subscribed 74.41 times in the retail category. Along with this, the Qualified Institutional Buyers (QIB) category was subscribed the most by 110.38 times and the Non-Institutional Investors (NII) category was subscribed the most by 147.51 times.
Lakshmi Dental’s IPO was opened on 13 January. The company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on January 20. The company wants to raise a total of ₹698.06 crore through this issue. For this, the existing investors of the company are selling 1,30,85,467 shares worth ₹560.06 crore. Along with this, the company is issuing 32,24,299 fresh shares worth ₹138 crore.
What is the minimum and maximum amount that investors could invest?
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 products.
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.