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Laxmi Dental IPO Listing: Investors who took part in the initial public offering may book part profit and hold with stop loss of 480, says a market expert.
Laxmi Dental IPO Listing.
Laxmi Dental IPO Listing: Laxmi Dental Ltd on Monday made a strong stock market debut with the shares listing on the exchanges at 26.6 per cent premium and rising further. The shares of Laxmi Dental were listed at Rs 542 apiece on the NSE, which was 26.6 per cent higher as compared with the IPO issue price of Rs 428. The share rose further and hit Rs 584.
On the BSE, the share were listed at Rs 528 apiece.
Shivani Nyati, head of wealth at Swastika Investmart, said, “Laxmi Dental Ltd 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. The company has demonstrated a positive financial trajectory, transitioning from losses to profitability. The company is the Second largest player in the domestic laboratory business and the largest export laboratory.”
The company made a good stock market debut, listing for Rs 542 per share, a significant 26.6 per cent premium over its issue price of Rs 428, she said.
“Those who took part in the initial public offering (IPO) may book part profit and hold with stop loss of 480,” Nyati added.
The initial public offering of Laxmi Dental Ltd, which was open between January 13 and January 15, received a whopping 114.14 times subscription. The retail category received a 75.1 times subscription in total, the NII (non-institutional investors) portion got 147.69 times subscription. Its QIB (qualified institutional buyer) category has been subscribed to by 110.38 times.
The price band of the IPO was fixed at Rs 407 to Rs 428 apiece.
