Laxmi Dental had a stellar debut on the stock market on January 20, listing at ₹542 per share on the NSE, which was a 26.64% premium over its issue price of ₹428. On the BSE, the stock opened at ₹528, reflecting a 23.36% increase from the issue price. The stock continued to rise, gaining another 8% to touch ₹584, and by noon, it was trading at ₹571.30. The strong listing was driven by an overwhelming investor response, with the IPO oversubscribed by 114 times, and significant interest from the non-institutional investors (NII) segment. The total value of the bids received stood at nearly ₹44,000 crore, far surpassing the issue size of ₹698 crore. The IPO comprised a fresh issue of 0.32 crore shares worth ₹138 crore, and an offer for sale of 1.31 crore shares valued at ₹560 crore. The company plans to use the proceeds from the fresh issue for various purposes, including the repayment of outstanding borrowings, investment in subsidiaries, and funding capital expenditure for machinery purchases. The company is among the top two largest dental laboratories in India by revenue for fiscal 2023 and is the largest exporter of dental products among Indian labs, primarily serving markets in the US, UK, and Europe. With a 20-year presence in the dental lab business, Laxmi Dental serves over 20,000 dental clinics, companies, and dentists, making it a significant player in both domestic and international dental markets.