India's Laxmi Dental surges 31% in trading debut
20/01/2025 07:02
** Laxmi Dental LAXD.NS soars ~31% to 560.15 rupees in
debut trade, valuing co at 30.79 bln rupees (~$356 mln)
** Stock opened at 542 rupees on the NSE vs issue price of
428 rupees
** Dental products maker's 6.98 bln-rupee IPO was subscribed
114.4 times, getting bids worth 439.29 bln rupees during
three-day bidding process - exchange data
** LAXD sold new shares worth 1.38 bln rupees in IPO and
will use proceeds to repay debt, buy new machinery
** Existing shareholders sold shares worth 5.60 bln rupees
in IPO
($1 = 86.5400 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru)
((Kashish.tandon@thomsonreuters.com))