Laxmi Dental Ltd Surge: IPO Soars on Market Debut

Laxmi Dental Ltd's shares debuted with a nearly 27% premium on Monday. The stock opened at Rs 528 on BSE, rising further to Rs 583.70, and at Rs 542 on NSE. Garnering 113.97 times subscription, the IPO included fresh equity shares and an offer for sale by promoters and shareholders.

Laxmi Dental Ltd impressively debuted on the stock market on Monday, listing with a 27% premium above its issue price of Rs 428. The stock opened at Rs 528 on the Bombay Stock Exchange (BSE), a significant 23.36% hike from its issue price.

Further climbing 36.37%, the shares surged to Rs 583.70. At the National Stock Exchange (NSE), the shares listed at Rs 542, achieving a rally of 26.63%. The firm's market capitalization reached Rs 3,129 crore.

The initial public offering (IPO) saw robust demand, with 113.97 times subscription on the final bidding day. Priced within Rs 407-428, the IPO included both fresh issue equity shares totaling up to Rs 138 crore and an offer for sale (OFS) from promoters and other shareholders worth Rs 560 crore.

(With inputs from agencies.)