IPO Day 3 GMP Highlights (January 15): Check Laxmi Dental IPO's final subscription figures, GMP and listing date

• Qualified Institutional Buyers (QIBs) -- 110.38 times
• Non Institutional Investors(NIIS) -- 147.47 times
• Retail Individual Investors (RIIs) -- 74.12 times
• Total -- 113.90 times

• Coal and mines minister G Kishan Reddy has invited global community to invest in the mining industry in India.
• The minister, who is on an official visit to Riyadh, Saudi Arabia, said that value addition in the entire supply chain is the key to greater prosperity for the people, according to a statement by the mines ministry on Wednesday.
• Reddy attended the ministerial roundtable of the Future Minerals Forum 2025 in Riyadh on Tuesday, which is being hosted by Saudi Arabia. (PTI)

• Google- and Temasek-backed social media unicorn ShareChat is planning to fire about five percent of its workforce or about 20-30 employees from across verticals, after an annual performance review, Moneycontrol has learnt.
• ShareChat currently has 530-550 employees and roughly five percent of them will be asked to leave the company as part of an annual exercise which ends later this month. A ShareChat spokesperson told Moneycontrol that the company plans to reduce headcount by around four percent. However, there are chances the number is higher as cost-cutting moves are still ongoing. (Read More)

• Qualified Institutional Buyers (QIBs) -- 110.38 times
• Non Institutional Investors(NIIS) -- 146.38 times
• Retail Individual Investors (RIIs) -- 69.89 times
• Total -- 112.84 times

Rupee settles 16 paise higher at 86.37 (provisional) against US dollar

GMP monitoring site investorgain.com says that the latest grey market premium for Laxmi Dental IPO stands at Rs 125. In comparison with yesterday's numbers, there's a marked dip in the GMP. With current numbers, the likely listing gains are around 29 per cent.

• In a significant move to foster entrepreneurship and innovation, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has formed a strategic partnership with ITC Limited, one of India’s leading diversified conglomerates.
• This collaboration aims to accelerate startup growth, drive technological advancements, and create viable market opportunities for startups across the country.
• The Memorandum of Understanding (MoU) establishes a dynamic partnership, leveraging ITC’s extensive market network and expertise to complement DPIIT’s initiatives in supporting startups nationwide.

December trade deficit at $21.94 bn vs $18.76 bn YoY

The allotment for the Barflex Polyfilms IPO is expected to be finalised on Thursday, January 16. Shares of Barflex Polyfilms are scheduled to be listed on NSE SME Emerge on Monday, January 20. Successful bidders will receive credit for their shares on January 17, while refunds for non-allottees will also be processed on the same day.

Indian rupee recovers 26 paise in afternoon trade to 86.38 against the US dollar, as compared to 86.64 against the greenback at previous close.

The SME initial public offering (IPO) of Barflex Polyfilms, which aimed to raise ₹39 crore, has been subscribed 25.18 times as of Wednesday, the final day of the process. By 12:15 PM, retail investors had applied for 7,26,34,000 shares, while the non-institutional investors' category saw the issue subscribed 13.5 times.

• Qualified Institutional Buyers (QIBs) -- 0.97 times
• Non Institutional Investors(NIIS) -- 66.66 times
• Retail Individual Investors (RIIs) -- 43.26 times
• Total -- 26.57 times

The outgoing Joe Biden administration recently introduced a rule that may impact AI frameworks in many countries, including India. According to a report by the Economic Times, on January 13, the Biden administration proposed a rule that would impose curbs on graphic processing units (GPUs). (Read More)

The Laxmi Dental IPO has been subscribed 21.41 times so far. The public issue subscribed 36.43 times in the retail category, 0.85 times in QIB, and 52.53 times in the NII category by 10.30 am on Day 3.

The Laxmi Dental IPO's price band is set at Rs 407 to Rs 428 per share. The minimum lot size for an application is 33. The minimum amount of investment required by retail investors is Rs 14,124. The minimum lot size investment for sNII is 15 lots (495 shares), amounting to Rs 2,11,860, and for bNII, it is 71 lots (2,343 shares), amounting to Rs 10,02,804.

The Indian dental market is vast, with over 5,000 dental laboratories that produce customized dental prosthetics, such as crowns and bridges, which are supplied to dentists for patient treatments. The market also includes 306 dental institutes. Additionally, the growth of dental tourism, supported by government initiatives, further contributes to the expansion of the market. India's affordable dental care, coupled with highly skilled dentists and quality treatment, makes it an attractive destination for tourists seeking dental procedures. The country's potential for further growth in dental tourism can be enhanced by integrating advanced technologies for treatments such as implant surgery, cosmetic dentistry, orthodontics, and pediatric dentistry, while ensuring high standards and cost-effectiveness.

After two-and-a-half years of legal wrangles and leadership transitions, BharatPe (Resilient Innovations) claims to have found calmer waters to set its ambitious plans afloat. The firm, steered by CEO Nalin Negi, gears up to go public in the next 18-24 months, while also aims at full-year Ebitda profitability by FY25. (Read More)

The company has reported a consolidated loss after tax and negative earnings per share for the fiscal years 2023 and 2022, and has written off assets in the last three fiscal years.

Laxmi Dental stands out as one of the few vertically integrated players globally, with a business model that encompasses both backward integration (manufacturing raw materials) and forward integration (providing treatment planning solutions). This integrated approach provides the company with a competitive edge by allowing direct control over the sourcing of raw materials. Consequently, Laxmi Dental can ensure consistency and quality throughout the entire production process, offering comprehensive end-to-end capabilities, from raw material manufacturing to distribution.

The funds raised through the IPO will be utilized for various purposes, including the repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company. Additionally, a portion of the funds will be invested in the subsidiary, Bizdent Devices Pvt. Ltd., to meet its capital expenditure requirements for the purchase of new machinery. The company also plans to allocate funds for its own capital expenditure needs, particularly for the purchase of new machinery. The remaining funds will be used for general corporate purposes.

Laxmi Dental Limited IPO: The book-running lead managers for the issue are Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited.

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes HDFC AMC, BSE, oil marketing companies and more. (Read More)

Elon Musk cheated Twitter shareholders out of more than $150 million by waiting too long to disclose his growing stake in the company as he prepared a takeover bid, the US Securities and Exchange Commission claimed in a lawsuit filed days before the Trump administration takes over. (Read More)

Established in July 2004, Laxmi Dental is a leading provider of dental products, offering a wide array of solutions including custom crowns, bridges, clear aligners, thermoforming sheets, and pediatric dental products. The company markets its aligner solutions and related manufacturing products under the "Tags" brand. As of September 30, 2024, Laxmi Dental operates six manufacturing facilities located in Mira Road (Mumbai), Boisar, and Kochi, along with five support facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad.

Laxmi Dental has fixed the IPO price band at Rs 407-428 per share. Investors must bid for a minimum of 33 shares per lot, with additional bids in multiples of 33. The minimum investment required for retail investors is Rs 14,124

The Rs 698-crore IPO includes a fresh issue of 32 lakh shares valued at Rs 138 crore and an offer for sale of 1.31 crore shares totaling Rs 560 crore.

• Market Value and Growth: The dental care services market in India was valued at approximately US$ 3.4 billion in 2023.
• It is projected to grow at a CAGR of 12.6%, reaching US$ 7.8 billion by 2030.
• Key Growth Drivers: Increasing prevalence of oral health disorders such as dental caries, malocclusion, and periodontal diseases.
• Rising demand for both general and specialized dental care due to greater public awareness.
• Market Composition: The Indian dentistry market is predominantly dominated by independent dental clinics operated by individual practitioners.
• A growing presence of dental chains is emerging in metropolitan and Tier I cities.
• Supporting Trends: Improved affordability and higher awareness about dental care.
• Favorable financing environment facilitating the establishment of network clinics.
• Future Outlook: The share of organised dental chains is expected to increase significantly in the coming years.

Laxmi Dental's initial public offering (IPO) was oversubscribed 16.03 times by the second day of bidding. As of January 14, 2025, the IPO attracted applications for 14,37,67,239 shares against the 89,70,371 shares on offer.

The IPO of Laxmi Dental Limited opened to robust demand, achieving oversubscription within an hour on its first day. Retail and non-institutional investors have primarily fueled the issue, which seeks to raise up to Rs 698 crore.