Laxmi Dental Smiles on Stock Market Debut

Laxmi Dental Ltd shares soared up to 36% from its issue price, closing with an almost 29% premium. The company's IPO was oversubscribed nearly 114 times. Laxmi Dental plans to use the funds from its Rs 138 crore fresh issue for debt repayment, capital investments, and general purposes.

Laxmi Dental Ltd shares made a significant impact upon their stock market debut on Monday, with values leaping by nearly 29% over the initial issue price of Rs 428.

The shares soared to Rs 583.70 during the day on the BSE, before settling at Rs 550.65 by the close. Over on the NSE, they ended at Rs 550.55, marking an impressive 28.63% increase.

The IPO, which attracted 113.97 times its subscription, was released within a Rs 407-428 price band. Funds raised from the fresh issue will address debt repayment, capital needs, subsidiary investment, and other corporate activities.

(With inputs from agencies.)