Laxmi Dental shares to debut today. Here's what GMP indicates
[hfe_template id='11223']
[ad_1]
The shares of Laxmi Dental will debut on the exchanges on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 145. Considering the upper price band of Rs 428, the stock is expected to debut with 34% gains over the issue price. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. The IPO, which was a combination of fresh equity issue of 138 crore and an offer for sale (OFS) of 1.3 crore shares, received robust response from investors with an overall subscription of 114 times at close. The funds raised from the IPO will be used for repayment of debt, investment in certain subsidiaries, funding capital expenditure requirements for purchasing new machinery for the company up to Rs 43.50 crore, investment in their subsidiary Bizdent Devices and general corporate purposes. Laxmi...