The Initial Public Offering (IPO) of Laxmi Dental Limited witnessed robust demand from retail and non-institutional investors on its second day, while the qualified institutional buyers’ portion remained undersubscribed. As of January 14, 2025, at 11.09 AM, the issue was subscribed 8.09 times overall.
The non-institutional investors’ category led the subscription, with bids for 4.31 crore shares against 24.46 lakh shares reserved, marking a 17.62 times subscription. Within this segment, investors bidding above ₹10 lakh showed strong interest with 17.77 times subscription.
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Retail investors matched the enthusiasm with 17.64 times subscription, bidding for 2.87 crore shares against 16.30 lakh shares reserved. Notably, 88.4% of retail bids were placed at the cut-off price.
However, the QIB portion received tepid response, with only 0.14 times subscription. Foreign institutional investors dominated the QIB category with bids for 4.71 lakh shares.
The IPO, which opened on January 13, 2025, is scheduled to close on January 15, 2025. The company has offered 89.70 lakh equity shares across all categories. The NSE data shows total bids received across categories at 2.88 crore shares, representing a 3.21 times subscription on the exchange.