Laxmi Dental IPO opens Jan 13: Check price band, lot size, objectives, key dates and more

Laxmi Dental IPO: Dental products company Laxmi Dental Ltd's ₹698.06 crore initial public offer will open for subscription on Monday, January 13. The price band has been set at ₹407-₹428 per share. The issue will conclude on Wednesday, January 15.

The initial share sale consists of ₹138 crore worth of new equity shares and an offer for sale of 13,085,467 shares aggregating ₹560.06 crore.

Under the OFS, promoters Sameer Kamlesh Merchant and Rajesh Vrajlal Khakhar, as well as investor OrbiMed Asia II Mauritius, will offload their stake.

The money raised will be used towards debt repayment of the company and its certain subsidiaries, fund capital expenditure for the purchase of new machinery, invest in subsidiary Bizdent Devices Pvt Ltd and corporate general purposes.

Laxmi Dental IPO lot size

An investor can bid for at least 33 shares and in multiples after that. The minimum investment is ₹14,124.

The company has reserved 75% of the net issue for qualified institutional investors, 15% for non-institutional investors and the remaining 10% for retail investors.

Laxmi Dental IPO allotment and listing date

• Bidding period: January 13 to January 15
• Allotment finalisation: January 16
• Refund initiation: January 17
• Credit of shares to Demat account: January 17
• Listing Date: January 20

Motilal Oswal Investment Advisors, Nuvama Wealth Management, and SBI Capital Markets are the issue's book-running lead managers, while Link Intime India is the registrar.

Laxmi Dental financials

Revenue from operations increased 19.7% to ₹193.5 crore in the financial year 2023-24 (FY24), compared to ₹1,61.6 crore in the previous fiscal year.

Profit after tax was reported at ₹25.2 crore in FY24, compared to a net loss of ₹4.1 crore in FY23.

For the six-month period that ended September 2024, revenue and net profit were ₹116.7 crore and ₹22.7 crore, respectively.

About Laxmi Dental

Laxmi Dental is an end-to-end integrated dental products company that offers a comprehensive portfolio of dental products. Its offerings include paediatric dental products and custom-made crowns and bridges.

In its draft papers, the company said it is amongst India's two largest dental laboratories based on revenue in FY23. Laxmi Dental manufactures dental products in six facilities spread across 146,804.42 square feet.