Day 2 of the Laxmi Dental IPO: GMP, subscription status, review, and more information. Is it good or bad for investors?

Laxmi Dental IPO GMP: Stock market watchers report that the company's shares are currently trading on the gray market for a premium of ₹142.

Laxmi Dental IPO: Laxmi Dental Limited's initial public offering (IPO) began on January 13, 2024, and will run until January 15, 2025. Accordingly, the Laxmi Dental IPO will continue to be open for bidding Monday through Wednesday. The price range for the Laxmi Dental IPO has been set at ₹407 to ₹428 per equity share, and the public offering is suggested for listing on the BSE and the NSE. Of the ₹698.06 crore that the mainboard IPO seeks to raise, ₹138 crore is anticipated to come from the issuance of new shares. The offer for sale (OFS) will receive the remaining ₹560.06 crore.

In the meantime, shares of the integrated dental product company are offered on the gray market prior to the Laxmi Dental IPO subscription opening date. Observers of the stock market claim that the company's shares are currently trading on the grey market at a premium of ₹160.

Status of Laxmi Dental's IPO subscription
The public issue had been booked 16.03 times, the retail section had been subscribed to 29.51 times, and the NII sector had been filled 37.41 times by 5:00 PM on the first day of bidding. Eighty-four percent of people have subscribed to the QIB section of the public issue.

Details of Laxmi Dental's IPO 1] Laxmi Dental IPO GMP: Stock market watchers report that the company's shares are currently trading on the gray market for a premium of ₹142.

2] Date of Laxmi Dental IPO: The public offering began on Monday and will run until Wednesday at 5:00 PM.

3] The price range for Laxmi Dentals' first public offering (IPO) is set at ₹407 to ₹428 per equity share.

Fourth, the size of Laxmi Dental's first public offering (IPO) is ₹698.06 crore, of which ₹138 crore is anticipated to come from the issue of new shares. The offer for sale (OFS) route will receive the remaining ₹560.06 crore.

5] Laxmi Dental IPO lot size: Bidders may submit several applications, and each lot will include 33 business shares.

6] Laxmi Dental IPO allotment date: January 16, 2025, is the most likely date for share allocation to be finalized.

7.] Laxmi Dental IPO registrar: Link Intime India Private Limited has been named as the official registrar for the forthcoming IPO.

8] Lead Managers for Laxmi Dental IPO: SBI Capital Market, Motilal Oswal Investment Advisors, and Nuvama Wealth Management have been named as the Lead Managers for the forthcoming ₹698.06 crore IPO.

9] Date of Laxmi Dental IPO listing: January 20, 2025, is the most likely date for share listing.

Is the Laxmi Dental IPO beneficial to investors?

10] Laxmi Dental IPO review: Prathamesh Masdekar, Research Analyst at StoxBox, offered the following advice regarding whether or not to file for the public offering: "In terms of finances, the firm reported Revenue/EBITDA CAGR of 18.9%/109.6% throughout the FY2022-24 timeframe, respectively. Due to operational efficiency, Laxmi Dental's margin increased from 4.0% in FY22 to 19.5% in H1FY25. Profitability will probably increase even more after debt payback due to the decrease in interest costs. Based on FY24 profits, the issue is valued at a P/E of 89.2x on the higher price band. Nonetheless, we think that elements like the transition from the unorganized to the organized market, increased acceptance and knowledge of dental aesthetics, and a move toward metal-free products would probably propel the company's expansion. Consequently,

"Based on annualized FY 2025 earnings and fully diluted post-IPO paid-up capital, the company is asking for a PE of 76.8x (adjusted for exceptional items), which seems aggressively priced considering the near term growth triggers and compared to its industry peers," Rajan Shinde, Research Analyst at Mehta Equities, said, assigning a "subscribe" tag to the book build issue. It might fetch a higher valuation multiple because it is the only end-to-end integrated dental product firm in India and operates in a specialized and expanding market sector. An further area of concern for novice investors is the IPO offerings, which come with an OFS of Rs. 560.06cr, or 80% of the entire issuance. Laxmi Dental is in a strong position to take advantage of a substantial market thanks to its B2B2C approach and creative products.

The book build issue has a market valuation of ₹2,352.38 crore. Anchor investors have contributed ₹314.13 crore to the book build issue ahead of the problem's launching date. The company's assets increased by around 40% year over year in FY24, from 96.54 crore to 134.52 crore. Revenue for the business increased from ₹163.84 crore to ₹195.26 crore. In GY24, the company's PAT and net worth both increased significantly. But throughout this time, the company's borrowings also increased.