Laxmi Dental IPO booked over 113 times on Day 3, share allotment tomorrow; here’s how to check status online

The initial public offering of dental products maker Laxmi Dental Ltd continued to witness strong demand on the last day of bidding on Wednesday, January 15. The mainboard issue was booked more than 113 times, driven by high demand from the Non-Institutional Investors (NIIs).

The ₹698.06-crore public offer opened for subscription on Monday, January 13. On the final day, the IPO attracted applications for more than 102.17 crore shares against the net offer size of 89.7 lakh shares, as per the NSE data at the end of bidding at 5 pm.

Among investor categories, the retail segment was booked 74.12 times, with applications for more than 12.13 crore shares against 16.3 lakh shares on offer. The NIIs’ quota was subscribed 147.51 times with bids for more than 36.08 crore shares compared to 24.46 lakh shares set aside for the category.

The Qualified Institutional Buyers (QIBs) applied for over 54 crore shares against 48.93 lakh shares on offer. The category was subscribed 110.38 times.

In the pre-bid round on January 10, Laxmi Dental raised ₹314 crore from anchor investors.

After the successful close of the IPO, the company will announce the share allotment status on Thursday, January 16. The bidders can check the IPO allotment status online through the websites of the NSE, BSE and issue registrar Link Intime India Private Ltd.

How to check Laxmi Dental IPO share allotment on registrar’s website

• Go to Link Intime India Pvt Ltd website: https://www.linkintime.co.in/
• Click on ‘Investor Services’ on the main menu and select ‘Public Issues’
• On the new page, choose Laxmi Dental Ltd from the dropdown list for company names
• Enter any of these— application number, PAN, DP/Client ID, or Account No / IFSC
• Click on ‘Submit’ to check the allotment status

Steps to check Laxmi Dental IPO share allotment status on BSE

• Go to the IPO allotment status page on the BSE website: https://www.bseindia.com/investors/appli_check.aspx
• Select equity from the two options for issue type
• Choose Laxmi Dental Ltd from the list of issue names
• Enter PAN details or application number
• Submit to check the details

Steps to check Laxmi Dental IPO share allotment on the NSE

• Open NSE IPO allotment page https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Login with username and password provided by NSE. The first time investors need to register on the website to check the IPO allotment status.
• Select Laxmi Dental Ltd as the issue name
• Verify PAN
• Enter the IPO application Number
• Click on Submit

Laxmi Dental IPO listing date

After finalising the IPO allotment status, the company will start refunds on January 17 and credit shares to the demat accounts the same day. Laxmi Dental Ltd has proposed to list its shares on the BSE and NSE on January 20.

Laxmi Dental IPO key details

• Laxmi Dental IPO was a book-building issue worth ₹698.06 crore.
• The mainboard IPO consisted of a fresh issuance of 32 lakh shares, amounting to ₹138 crore, and an offer-for-sale (OFS) portion of 1.31 crore shares, worth ₹560 crore.
• The minimum bidding size for the retail investors was ₹14,124 for a single lot size of 33 shares.
• The IPO price band was fixed at ₹407 to ₹428 per share.

Laxmi Dental key performance indicators

What will company do with IPO proceeds?

Laxmi Dental has proposed using IPO proceeds for debt repayment, investment in subsidiaries, capital expenditure on machinery and equipment and general corporate purposes. The company will utilise ₹22.98 crore for repayment or prepayment, of certain outstanding borrowings availed by the company.

It has proposed to invest ₹25 crore in its subsidiary Bizdent Devices Pvt Ltd to fund capital expenditures for buying new machinery. It will also invest ₹4.6 crore in an arm for debt repayment. The company has earmarked ₹43.5 crore for capital expenditures for the purchase of new machinery.

Laxmi Dental is an integrated dental products company offering a comprehensive portfolio of products. Its range includes custom-made crowns and bridges, aligner-related items, and branded dental products such as clear aligners and thermoforming sheets. The company also produces dental products for kids.

The company reported revenue from operations of ₹11.67 crore for the six-month period ended September 30, 2024. Its net profit was ₹1.81 crore. The company’s revenue from operations stood at ₹193.55 crore for the year ended on March 31, 2024, against ₹161.63 crore in the preceding fiscal.