The IPO of Laxmi Dental Ltd closed on a sensational note, garnering 113.97 times subscriptions on its final day, demonstrating high investor interest. The ₹698.06 crore mainboard IPO, which opened on January 13, received applications for more than 102.17 crore shares against the 89.7 lakh shares on offer.
The IPO of Laxmi Dental Ltd has again focused on a stellar response from all categories of investors. While the portion reserved for retail investors was oversubscribed 74.12 times, NIIs booked their portion 147.47 times. The QIBs category witnessed significant institutional participation and was subscribed 110.38 times.
Laxmi Dental Ltd share price was confirmed at ₹407 to ₹428 per share. The minimum lot size for retail investors has been kept at 33 shares. Shares of Laxmi Dental Ltd are to debut on the BSE and NSE on January 20.
IPO of Laxmi Dental Ltd Made Waves, SME IPOs Also Witness Strong Demand
While Laxmi Dental Ltd IPO hogged the limelight, SME issues like Kabra Jewels Ltd and Rikhav Securities Ltd also saw enthusiastic bidding on their opening day.
Kabra Jewels IPO
The Kabra Jewels IPO saw an overwhelming response, being subscribed over 12 times by the end of Day 1. Retail investors oversubscribed their portion by more than 11 times, while the NIIs’ category was booked 9.5 times.
The ₹40-crore book-building issue consists of 31.25 lakh fresh shares at a price band of ₹121 to ₹128 per share. The IPO will be open for bidding until January 17, with the shares likely to list on the NSE Emerge platform on January 22.
Rikhav Securities IPO
Rikhav Securities Ltd also saw strong demand, with the issue getting subscribed more than eight times on its opening day. Retail investors led the charge, oversubscribing their segment by nearly 14 times, followed by NIIs with a 7.5-times subscription.
This is an ₹88.82 crore IPO, of which it has a fresh equity issuance, along with the offer-for-sale (OFS). It’s proposing a price band of ₹82 to ₹86 per share. The minimum lot size has been kept at 1,600 shares. The shares will be listed on BSE SME on January 22.
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