The IPO of Lakshmi Dental has received a strong response from anchor investors. The company has raised over ₹314 crore from anchor or large investors.

According to the circular uploaded on the BSE website, participation from domestic mutual funds, insurance companies, and foreign institutions has been observed during the anchor stage.

Participation of Major Investors

Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla Sun Life Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments, and Natixis Investment Managers were allocated shares at this stage.

Issue Price and Grey Market Premium

Mumbai-based Lakshmi Dental has allocated 73.39 lakh shares to 31 entities at ₹428 per equity share, amounting to a transaction size of ₹314.12 crore. The IPO's issue price has been set at ₹407-428 per share. The IPO has garnered strong demand in the grey market, with a premium of ₹166, and it may list at ₹594. The issue will open for subscription on January 13 and close on January 15.

Utilization of Funds

As per the IPO documents, proceeds from the new issue will be used for investment in the subsidiary company Bizdent Devices, purchasing new machinery, repaying debt, and general corporate purposes. The IPO is being managed by Nuvama Wealth Management, Motilal Oswal Investment Advisors, and SBI Capital Markets.