Laxmi Dental shares listed on the exchanges with a premium of 27 percent on January 20, following a heathy subscription of 114 times in the primary market.
The shares of OrbiMed-backed Laxmi Dental Ltd were listed at Rs 542 per share on the NSE platform, a premium of 26.64 percent against its issue price. The Rs 698-crore initial public offering (IPO) was priced in the range of Rs 407 - 428. The market valuation of the company post listing of shares stood at Rs 2,978.95 crore.
The shares of Laxmi Dental were listed at Rs 528 on the BSE, a premium of 23.36 percent.
The company operates as a vertically integrated provider of dental solutions, offering a diverse portfolio ranging from custom-made crowns and bridges to aligner solutions and paediatric dental products.
Prathamesh Masdekar, Research Analyst at Stoxbox highlighted factors such as the shift from unorganised to organised players in the dental industry, rising awareness around dental aesthetics, and growing demand for metal-free dental products as key drivers for the company's future growth.
Laxmi Dental IPO shares to list today after 114x subscription; should you buy, sell or hold?
He recommended "investors who received allotment should consider holding the stock for the medium to long term, given its growth potential," he said.
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The company aims to utilise the net proceeds from the IPO for debt repayment, funding capital expenditure, investment in its subsidiary Bizdent Devices Pvt Ltd, and general corporate purposes.
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