OrbiMed-backed Laxmi Dental raised over Rs 314 crore from anchor investors before its IPO for public subscription. The anchor round included domestic mutual funds, insurance companies, and foreign entities. The IPO consists of a fresh issue of shares worth Rs 138 crore and an OFS by promoters and existing shareholders worth Rs 560 crore.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.