LAXMI DENTAL LIMITED IPO DETAILS & REVIEW
Company Incorporated in July 2004, is a dental product company. It offers integrated dental product and dental align solutions like crowns and bridges, paediatric dental products, branded dental aligners and advanced digital dentistry products. According to RHP company operates six manufacturing plants: three located in Mumbai, two in Boisar and one is situated in kochi.
Laxmi Dental Ipo is a issue of approx 700(698.06) crores. This IPO is a combination of Fresh issue and OFS(Offer For Sale). Company is issuing around 32 Lakhs Shares worth Rs. 132 crores as Fresh issue and offer for sale of around 1.31 crores shares aggregating to Rs. 560.06 croresLaxmi Dental ipo opens for subscription on Monday 13 January, 2025 and closes on Wednesday 15 January, 2025. Allotment of Laxmi Dental Limited Ipo is expected to be finalized on Thursday 16 January, 2025 and This ipo of Laxmi dental limited will list on both exchanges BSE and NSE on Monday 20 January 2025.
Price band and Lot size
Applicants can apply for Laxmi Dental Limited Ipo with minimum of 33 shares and multiples of 33. This issue’s price band is fixed between the range of 407 to 428 per equity share. A retail investor can apply for 1 lot with 14124 rupees and maximum for 14 lots with Rs. 197736. The Company has reserved not less than 75 percent of shares in this public issue for QIB, 15 percent for NII and Only 10 percent of this total issue is for retail investors.
objective of ipo
Laxmi Dental Limited is targeting to utilize the funds from fresh issue to reduce the debt, invest in new equipments and fulfill the various corporate needs. More than 500 crores of ipo money will directly goes to promoters and existing shareholders who are selling their stake from the ipo and only fresh issue of approx 138 crores will go to fulfill the company’s purposes. Company also wants to invest some money in its subsidiary Bizdent Devices Pvt. Ltd for the exp requirements for the purchase of new machinery.
Promoters
The promoters of laxmi dental are Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant and Dharmesh Bhupendra Dattani.
Lead Manager and registrar
Nuvama wealth management Limited, Motilal oswal investment advisors Limited and SBI Capital markets Limited are the running lead managers for the Laxmi Dental Ipo. Link Intime india pvt. Ltd. serves as the registrar for this offering.
Anchor investors
The allocation to anchor investors for Laxmi Dental Ipo is scheduled on 10 january 2025.
Laxmi Dental IPO Gmp
According to investigation.com data company’s shares are trading in grey market with premium of 38% at 590 or GMP(grey market premium) of Laxmi dental limited koi is Rs. 163 on Saturday 11 january 2025.
Laxmi dental financials
In FY 2022 company has reported 18.68 crores PAT loss, in FY 2023 company has reported 4.16 crores PAT loss and at the end of FY 2024 company’s PAT reported 25.23 crores profit. according to rhp data company is growing with speedy growth. As of 30 september 2024 company,s borrowing has stood at 40.91 crores.
Dividend
Company has not declared any dividend for the reported period of the rhp.
Listed peers
As per the rhp the company has shown Poly Medicure as its listed peer. However laxmi dental and Poly medicure are not truely comparable.
Conclusion
the company is one of the leading manufaturer of dental produts globally for over two decades.