Voler Car Lists Flat at ₹90 on NSE SME Despite Strong Subscription, Hits Lower Circuit
Laxmi Dental Lists at 27% Premium, Shows Strong Performance on BSE & NSE


Last Updated: 20th January 2025 - 01:05 pm
Laxmi Dental Limited, an integrated dental products company operating since July 2004, marked its entry into the public markets on Monday, January 20, 2025. The company, which has established itself as one of India's leading manufacturers and distributors of dental products with six manufacturing facilities and over 22,000 clinic partnerships, commenced trading on both BSE and NSE amid robust investor enthusiasm.
Laxmi Dental Listing Details
The company's market debut reflected strong investor confidence in its business model and growth prospects:
- Listing Time & Price: When trading commenced at market open, Laxmi Dental shares debuted at ₹528 on BSE and ₹542 on NSE, delivering impressive premiums of 23.3% and 26.6% respectively to IPO investors. This strong opening validates the market's recognition of the company's integrated manufacturing capabilities and market leadership position.
- Issue Price Context: The considerable premium emerged after the company had strategically priced its IPO between ₹407 and ₹428 per share, ultimately fixing the final issue price at ₹428. This pricing approach successfully balanced institutional investor accessibility with fair value for the company's growth potential.
- Price Evolution: By 10:59 AM IST, investor enthusiasm continued to build, pushing the stock to ₹569.95, representing an outstanding gain of 33.17% over the issue price, after touching an intraday high of ₹583.70, demonstrating sustained buying interest throughout the early trading session.
Laxmi Dental First-Day Trading Performance
The trading activity showed robust participation and strong investor conviction:
- Volume and Value: Within the first few hours, 12.04 lakh shares changed hands, generating a substantial turnover of ₹65.95 crore. Notably, 46.93% of traded shares were marked for delivery, indicating a healthy mix of investment and trading interest.
- Demand Dynamics: The stock's trading pattern showed continued strength with buy orders for 26.70 lakh shares against sell orders for 59,003 shares, reflecting strong buying interest at higher levels.
Laxmi Dental Market Sentiment and Analysis
- Market Reaction: Strong opening followed by further upward momentum
- Subscription Rate: The Laxmi Dental IPO was massively oversubscribed by 114.14 times
- Pre-listing Interest: Anchor investors demonstrated strong confidence by investing ₹314.13 crore before the public issue
Laxmi Dental Growth Drivers and Challenges
Expected drivers of future performance:
- Only integrated dental products company in India
- Second largest player in domestic laboratory business
- Largest export laboratory with digital dentistry focus
- Vertically integrated diverse branded portfolio
- Large dental network with over 22,000 clinics
- Robust technological capabilities
- Strong regulatory compliance
Potential challenges:
- Aggressive pricing concerns
- High P/E ratio
- Market competition
- Technology adaptation needs
- Regulatory requirements
Utilisation of IPO Proceeds
The ₹698.06 crore raised (₹138 crore fresh issue) will be used for:
- Repayment of company borrowings
- Investment in subsidiaries for debt repayment
- Capital expenditure for new machinery
- Investment in Bizdent Devices subsidiary
- General corporate purposes
Laxmi Dental Financial Performance
The company has shown improving results:
- Revenue increased to ₹195.26 crore in FY2024 from ₹163.84 crore in FY2023
- H1 FY2025 (ended September 2024) showed revenue of ₹117.9 crore with PAT of ₹22.74 crore
- Net worth of ₹67.09 crore as of September 2024
- Total borrowings of ₹40.91 crore
As Laxmi Dental begins its journey as a listed entity, market participants will closely monitor its ability to execute expansion plans and improve operational metrics. The strong listing and sustained momentum suggest robust investor confidence in the company's prospects in the dental products sector, particularly given its integrated manufacturing capabilities and extensive clinic network, despite concerns about aggressive valuations.
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