Bookbuilding IPO | ₹698 Cr | Listed at BSE, NSE | Mon, Jan 13, 2025 - Wed, Jan 15, 2025
Laxmi Dental IPO is a book build issue of ₹698.06 crores. The issue is a combination of fresh issue of 0.32 crore shares aggregating to ₹138.00 crores and offer for sale of 1.31 crore shares aggregating to ₹560.06 crores.
Laxmi Dental IPO bidding started from Jan 13, 2025 and ended on Jan 15, 2025. The allotment for Laxmi Dental IPO was finalized on Jan 16, 2025. The shares got listed on BSE, NSE on Jan 20, 2025.
Laxmi Dental IPO price band is set at ₹428 per share. The lot size for an application is 33. The minimum amount of investment required by an retail is ₹14,124 (33 shares) (based on upper price). The lot size investment for sNII is 15 lots (495 shares), amounting to ₹2,11,860, and for bNII, it is 71 lots (2,343 shares), amounting to ₹10,02,804.
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Laxmi Dental IPO RHP for detailed Information.
IPO Open
Mon, Jan 13, 2025
IPO Close
Wed, Jan 15, 2025
Issue Price
₹428 per share
Market Cap (Pre-IPO)
₹2,352.38 Cr
| IPO Date | 13 to 15 Jan, 2025 |
| Listed on | Mon, Jan 20, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹407 to ₹428 |
| Issue Price | ₹428 per share |
| Lot Size | 33 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,63,09,766 shares (agg. up to ₹698 Cr) |
| Fresh Issue | 32,24,299 shares (agg. up to ₹138 Cr) |
| Offer for Sale | 1,30,85,467 shares of ₹2 (agg. up to ₹560 Cr) |
| Share Holding Pre Issue | 5,17,37,850 shares |
| Share Holding Post Issue | 5,49,62,149 shares |
| BSE Script Code / NSE Symbol | 544339 / LAXMIDENTL |
| ISIN | INE0WO601020 |
Laxmi Dental IPO offers total 1,63,09,766 shares. Out of which 1,22,32,326 (75.00%) allocated to QIB, 48,92,931 (30.00%) allocated to QIB (Ex- Anchor), 24,46,464 (15.00%) allocated to NII 16,30,976 (10.00%) allocated to RII and 73,39,395 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,22,32,326 (75.00%) | NA |
| − Anchor Investor Shares Offered | 73,39,395 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 48,92,931 (30.00%) | NA |
| NII (HNI) Shares Offered | 24,46,464 (15.00%) | NA |
| − bNII > ₹10L | 16,30,976 (10.00%) | 3,294 |
| − sNII < ₹10L | 8,15,488 (5.00%) | 1,647 |
| Retail Shares Offered | 16,30,976 (10.00%) | 49,423 |
| Total Shares Offered | 1,63,09,766 (100.00%) |
Investors can bid for a minimum of 33 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,124 |
| Retail (Max) | 14 | 462 | ₹1,97,736 |
| S-HNI (Min) | 15 | 495 | ₹2,11,860 |
| S-HNI (Max) | 70 | 2,310 | ₹9,88,680 |
| B-HNI (Min) | 71 | 2,343 | ₹10,02,804 |
Laxmi Dental IPO raises ₹314.13 crore from anchor investors. Laxmi Dental IPO Anchor bid date is January 10, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Jan 10, 2025 |
| Shares Offered | 73,39,395 |
| Anchor Portion (₹ Cr.) | 314.13 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Feb 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Apr 15, 2025 |
Incorporated in July 2004, Laxmi Dental Limited is an integrated dental products company. The company offers custom crowns and bridges, branded dental items like clear aligners and thermoforming sheets, aligner-related products as part of its aligner solutions, and pediatric dental products.
Their product portfolio includes custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental products, and more.
The company offers thermoforming sheets, biocompatible 3D printing resins, and machines for manufacturing clear aligners under the brand name Taglus.
The company operate a fully integrated model, meaning they handle the entire process from design and manufacturing to distribution of dental products.
As of September 30, 2024, the company has six manufacturing facilities: three in Mira Road, Mumbai, two in Boisar, and one in Kochi, along with five supporting facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad.
As of September 30, 2024, the company’s dental network includes over 22,000 clinics and dentists across more than 320 cities nationwide.
The company has significant presence in both domestic and international markets, exporting to over 90 countries.
As of September 30, 2024, the company had 2,372 employees in various departments.
Competitive strengths
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 158.22 | 134.52 | 96.54 | 102.75 |
| Total Income | 117.90 | 195.26 | 163.84 | 138.07 |
| Profit After Tax | 22.74 | 25.23 | -4.16 | -18.68 |
| NET Worth | 67.09 | 44.57 | 19.48 | 22.94 |
| Total Borrowing | 40.91 | 42.03 | 31.44 | 29.63 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company. | 22.98 |
| 2 | Investment in certain Subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings. | 4.60 |
| 3 | Funding the capital expenditure requirements for purchase of new machinery for the Company | 43.51 |
| 4 | Investment in the Subsidiary, Bizdent Devices Private Limited, for the capital expenditure requirements for the purchase of new machinery | 25.00 |
| 5 | General corporate purposes | 32.08 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 78.78% |
| ROCE | 19.97% |
| Debt/Equity | 0.94 |
| RoNW | 78.78% |
| PAT Margin | 13.03% |
| Price to Book Value | 49.59 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.88 | 8.27 |
| P/E (x) | 87.77 | 51.73 |
| Promoter Holding | 46.56% | 41.7% |
| Market Cap | ₹2,352.38 Cr. |
The Laxmi Dental IPO is subscribed 114.14 times on January 15, 2025 6:19:09 PM (Day 3). The public issue subscribed 75.1 times in the retail category, 110.38 times in the QIB category, and 147.69 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 110.38 | 48,92,931 | 54,00,81,366 |
| NII | 147.69 | 24,46,464 | 36,13,21,158 |
| bNII (bids above ₹10L) | 167.68 | 16,30,976 | 27,34,89,216 |
| sNII (bids below ₹10L) | 107.7 | 8,15,488 | 8,78,31,942 |
| Retail | 75.1 | 16,30,976 | 12,24,80,688 |
| Total | 114.14 | 89,70,371 | 1,02,38,83,212 |
Total Application : 43,13,159
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers including underwriting commission, brokerage and selling commission, as applicable | 23.10 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Banker(s) to the Offer and brokerage, underwriting and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (2)(3)(4)(5)(6) | 2.43 |
| 3 | Fees payable to the Registrar to the Offer | 2.09 |
| 4 | Fees payable to the other advisors to the Offer | |
| 5 | -Auditors | 2.75 |
| 6 | -Independent Chartered Accountant | 0.31 |
| 7 | -Industry expert | 0.34 |
| 8 | -Independent Chartered engineer | 0.05 |
| 9 | Others | 2.22 |
| 10 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 2.94 |
| 11 | Printing and stationery | 2.13 |
| 12 | Advertising and marketing expenses | 5.85 |
| 13 | Fee payable to legal counsels | 5.00 |
| 14 | Miscellaneous | 0.51 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹428.00 | ₹428.00 |
| Open | ₹528.00 | ₹542.00 |
| Low | ₹524.80 | ₹525.00 |
| High | ₹583.70 | ₹584.00 |
| Last Trade | ₹550.65 | ₹550.55 |
Laxmi Dental IPO is a main-board IPO of 1,63,09,766 equity shares of the face value of ₹2 aggregating up to ₹698 Crores. The issue is priced at ₹428 per share. The minimum order quantity is 33.
The IPO opens on Mon, Jan 13, 2025, and closes on Wed, Jan 15, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Laxmi Dental IPO using UPI as a payment gateway. Zerodha customers can apply in Laxmi Dental IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Laxmi Dental IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Laxmi Dental IPO opens on Mon, Jan 13, 2025 and closes on Wed, Jan 15, 2025.
Laxmi Dental IPO lot size is 33, and the minimum amount required for application is ₹14,124.
You can apply in Laxmi Dental IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Laxmi Dental IPO will be done on Thursday, January 16, 2025, and the allotted shares will be credited to your demat account by Fri, Jan 17, 2025. Check the Laxmi Dental IPO allotment status.
The Laxmi Dental IPO listing date is on Mon, Jan 20, 2025.
