GAGA Share Market News

[hfe_template id='11223'] [ad_1] Laxmi Dental shares debuted at Rs 542 per share on the NSE, and the stock jumped as much as 7.7% to an intra-day high of Rs 584 on the NSE, while the market cap climbed to Rs 3,119.10 crore. On the BSE, the stock opened at Rs 528 per share, reflecting a 23.4% premium, and valued the company at Rs 3,126 crore. The positive listing was in line with market expectations, as the stock had been trading with strong gains in the grey market, commanding a premium of Rs 145 or 33.9% over the issue price. Analysts noted the company's impressive transition from losses to profitability. Shivani Nyati, Head of Wealth at Swastika Investmart, highlighted Laxmi Dental's stature as the second-largest domestic laboratory business and the largest export laboratory in India. “The company made a good stock market debut, listing for Rs 542 per share, a significant 26.6% premium over its issue price of Rs 428. Those who took part in the initial public of...

[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...