IPO Investment Tips: GMP of this IPO has increased, know when it will open and at what price it will reach…

By News Update On Jan 11, 2025

IPO Investment Tips: The IPO of Mumbai-based dental products firm Lakshmi Dental will open for subscription on Monday, January 13, but GMP has already started attracting attention.

The price band of Lakshmi Dental IPO is Rs 407-428 per share. The minimum lot size with one application is 33 shares. The minimum investment amount for retail investors is Rs 14,124.

The company has allocated 75% of the net issue to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs) and the remaining 10% to retail investors.

According to market sources, Lakshmi Dental IPO GMP in the unlisted market is Rs 163, which is 38 per cent more than the cap price. It is noteworthy that on January 8, GMP was Rs 155, which jumped to Rs 165 on January 9. There has been a slight decline in it on January 10.

Due to strong GMP, investors are paying attention to this IPO. This issue is a book built issue of total Rs 698.06 crore.

This is a combination of new issue of 32 lakh shares worth Rs 138 crore and 1.31 crore offer for sale shares worth Rs 560.06 crore. Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant and Dharmesh Bhupendra Dattani are the promoters of the company.

The IPO proceeds will be used by the company and select subsidiaries to repay debt, finance capital expenditure to purchase new machinery, invest in subsidiary Bizdent Devices Pvt Ltd and to meet general corporate purposes.

Lakshmi Dental is a fully integrated dental products company, offering a comprehensive portfolio including pediatric dental products and custom-made crowns and bridges.

According to its draft papers, the company is among the two largest dental laboratories in India by revenue in FY23. Lakshmi Dental operates six manufacturing facilities.

IPO Investment Tips. Motilal Oswal Investment Advisors, Nuvama Wealth Management and SBI Capital Markets are acting as book-running lead managers to the issue, while Link Intime India is acting as the registrar.