What is the story about?
Shares of Laxmi Dental Ltd., a recent listing, will be in focus on Tuesday, January 20, as its one-year shareholder lock-in comes to an end.
According to Nuvama Alternative & Quantitative Research, the company will see as many as 7.1 million shares or 13% of its outstanding equity become eligible to trade as the lock-in period ends.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market. They only become eligible to be traded.
Based on Monday's closing price, the value of the shares that will become eligible to be traded once the lock-in period ends, is worth ₹167 crore.
As per the December quarter shareholding pattern disclosed to the exchanges, promoters of Laxmi Dental had a 41.7% stake in the company.
Among public shareholders, Mutual Funds held close to 11% stake in the company, led by ICICI Prudential Pharma Healthcare and Diagnostics Fund (4.58%), HDFC Pharma and Healthcare Fund (1.37%) and Kotak Healthcare Fund (1.37%).
Orbimed Asia (22.4%), Goldman Sachs India Equity Portfolio (3.5%) are some of the other prominent public shareholders. Close to 40,000 retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 8.2% stake in the company. That figure is higher than the 7.3% stake that retail shareholders had at the end of the September quarter.
After making a post-listing high at the start of last year, shares of Laxmi Dental have been on a downward spiral. The stock is down 60% from its post-listing high of ₹584 and has even corrected 45% from its IPO price of ₹428 apiece.
Shares of Laxmi Dental ended 2.4% lower on Monday at ₹235.5.
According to Nuvama Alternative & Quantitative Research, the company will see as many as 7.1 million shares or 13% of its outstanding equity become eligible to trade as the lock-in period ends.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market. They only become eligible to be traded.
Based on Monday's closing price, the value of the shares that will become eligible to be traded once the lock-in period ends, is worth ₹167 crore.
As per the December quarter shareholding pattern disclosed to the exchanges, promoters of Laxmi Dental had a 41.7% stake in the company.
Among public shareholders, Mutual Funds held close to 11% stake in the company, led by ICICI Prudential Pharma Healthcare and Diagnostics Fund (4.58%), HDFC Pharma and Healthcare Fund (1.37%) and Kotak Healthcare Fund (1.37%).
Orbimed Asia (22.4%), Goldman Sachs India Equity Portfolio (3.5%) are some of the other prominent public shareholders. Close to 40,000 retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 8.2% stake in the company. That figure is higher than the 7.3% stake that retail shareholders had at the end of the September quarter.
After making a post-listing high at the start of last year, shares of Laxmi Dental have been on a downward spiral. The stock is down 60% from its post-listing high of ₹584 and has even corrected 45% from its IPO price of ₹428 apiece.
Shares of Laxmi Dental ended 2.4% lower on Monday at ₹235.5.
