Laxmi Dental IPO is set to open for subscription from January 13 to January 15, 2025, offering shares at a price range of INR 407 to INR 428 per share. The IPO comprises a fresh issue of INR 150 crore and an offer for sale of 1,28,26,847 shares, amounting to INR 522.05 – 548.99 crore, bringing the total IPO size to INR 672.05 – 698.99 crore.
Investors can bid for a minimum lot size of 33 shares, requiring an investment of INR 14,124. The shares have a face value of INR 2 each, with 10% of the issue reserved for retail investors. Laxmi Dental shares will be listed on both the NSE and BSE after the IPO closes.
Overview of Contents
Laxmi Dental IPO Overview
| IPO Details | Information |
|---|---|
| IPO Date | January 13, 2025 to January 15, 2025 |
| Listing Date | January 20, 2025 (Tentative) |
| Face Value | ₹2 per share |
| Price Band | ₹407 to ₹428 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 1,63,09,766 shares (aggregating up to ₹698.06 Cr) |
| Fresh Issue | 32,24,299 shares (aggregating up to ₹138.00 Cr) |
| Offer for Sale | 1,30,85,467 shares of ₹2 (aggregating up to ₹560.06 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,17,37,850 shares |
| Share Holding Post Issue | 5,49,62,149 shares |
| Retail Investor Quota | 10% |
| QIB Quota | 75% |
| HNI Quota | 15% |
| Minimum Investment | ₹14,124 for retail investors (33 shares) |
| Maximum Investment | ₹10,02,804 for bNII (71 lots) |
| Revenue (FY 2024) | ₹195.26 Crores (up from ₹163.84 Crores in FY 2023) |
| Profit (FY 2024) | ₹25.23 Crores (reversed from a loss of ₹4.16 Crores in FY 2023) |
| Company's Market Presence | Exports to over 90 countries worldwide, including USA, UK, and Europe |
| Employee Strength | 2,372 employees across various departments |
| DRHP | Click here |
| RHP | Click here |
| Anchor Investor List | Click here |
Laxmi Dental IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 33 | ₹14,124 |
| Retail Maximum | 14 | 462 | ₹1,97,736 |
| S-HNI Minimum | 15 | 495 | ₹2,11,860 |
| B-HNI Minimum | 70 | 2,310 | ₹9,88,680 |
Laxmi Dental IPO Dates
| IPO Open Date: | January 13, 2025 |
| IPO Close Date: | January 15, 2025 |
| Basis of Allotment: | January 16, 2025 |
| Refunds: | January 17, 2025 |
| Credit to Demat Account: | January 17, 2025 |
| IPO Listing Date: | January 20, 2025 |
Laxmi Dental IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
Laxmi Dental IPOÂ Promoter Holding
Laxmi Dental Limited is led by its promoters Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant, and Dharmesh Bhupendra Dattani.
| Share Holding Pre Issue | 46.56% |
|---|---|
| Share Holding Post Issue |
Laxmi Dental Limited Financial InformationÂ
The financial performance of Laxmi Dental Limited for the periods ended September 30, 2024, March 31, 2024, March 31, 2023, and March 31, 2022.
| Financials (₹ Crore) | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 158.22 | 134.52 | 96.54 | 102.75 |
| Revenue | 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 |
Laxmi Dental IPO Valuation – FY2024
| KPI | Values |
|---|---|
| ROE: | 78.78% |
| ROCE: | 19.97% |
| EBITDA Margin: | -% |
| PAT Margin: | 13.03% |
| Debt to equity ratio: | 0.94 |
| Earning Per Share (EPS): | ₹5.11 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 78.78% |
| Net Asset Value (NAV): | ₹8.63 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Poly Medicure Limited | 26.92 | 94.02 | 19.05 | 153.22 | 14,34.54 Cr. |
Objects of the issue
Repayment/Prepayment of Borrowings: A portion of the funds will be directed towards the full or partial repayment of the company’s outstanding borrowings.
Investment in Subsidiaries: The company plans to invest in its subsidiaries, particularly for the repayment or prepayment of their respective borrowings.
Capital Expenditure for New Machinery: The proceeds will also be utilized to meet the capital expenditure needs, including the purchase of new machinery to enhance production capacity.
Support for Subsidiary Growth: An investment will be made in Bizdent Devices Private Limited for its capital expenditure, specifically for procuring new machinery.
General Corporate Purposes: A part of the funds will be allocated for various general corporate needs to support the company’s growth and operations.
About Laxmi Dental IPO
Laxmi Dental Limited, founded by Mr. Rajesh Khakhar, has established itself as India’s only fully integrated dental products company, with over 20 years of market presence. Offering a diverse portfolio that includes custom-made crowns, clear aligners, thermoforming sheets, and pediatric dental products, the company has become a leader in the dental industry.
As of 31 March 2024, Laxmi Dental ranks among India’s top two largest dental laboratories by revenue and serves clients across more than 95 countries, including the USA, UK, and Europe. With a network of over 20,000 dental clinics and professionals, the company has established a strong global and domestic presence. Its commitment to technological advancements in Digital Dentistry, highlighted by the introduction of Illusion Aligners, has propelled it to the forefront of the industry.
The company operates six manufacturing facilities across a total area of 146,804.42 square feet, with locations in Mumbai, Boisar, and Kochi, along with five supporting facilities in Delhi, Bengaluru, and Ahmedabad. These state-of-the-art manufacturing facilities enable Laxmi Dental to meet both domestic and international demand efficiently.
The company has garnered multiple awards for its innovation and contributions to Digital Dentistry, including recognition from Famdent Excellence in Digital Dentistry and the India Book of Records. With its upcoming IPO, Laxmi Dental aims to strengthen its market position, expand its global reach, and continue delivering high-quality dental products and services while maintaining a focus on innovation, integrity, and empowerment.
Laxmi Dental Offer Lead Manager
NUVAMA WEALTH MANAGEMENT LIMITED
801-804, Wing A, Building No 3, Inspire BKC,
G Block, Bandra Kurla Complex, Bandra East,
Mumbai – 400 051
Phone:Â +91 22 4009 4400
Email:Â laxmidental.ipo@nuvama.com
Website: www.nuvama.com
Laxmi Dental Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 22 4918 6000/ +91 8108114949
Email:Â laxmidental.ipo@linkintime.co.in
Website:Â www.linkintime.co.in
Laxmi Dental Contact Details
LAXMI DENTAL LIMITED
301, A-wing, Interface-16, Mindspace, Malad (West),
Mumbai – 400 064, Maharashtra, India
Phone:Â +91 22 6143 7992
Email:Â co.sec@laxmidentallimited.com
Website:Â www.laxmidentallimited.com
Frequently Asked Questions (FAQ) – Laxmi Dental IPO
What is the Laxmi Dental IPO issue date?
The Laxmi Dental IPO will open for subscription on January 13, 2025 and close on January 15, 2025.
When will the Laxmi Dental IPO allotment be finalized?
The IPO allotment is expected to be finalized on January 16, 2025.
What is the price band for the Laxmi Dental IPO?
The price band for the Laxmi Dental IPO is set between ₹407 to ₹428 per share.
What is the lot size for the Laxmi Dental IPO?
The minimum lot size for an application is 33 shares.
How much do I need to invest to apply for Laxmi Dental IPO?
The minimum amount required for retail investors is ₹14,124.
What is the total issue size of the Laxmi Dental IPO?
The total issue size of the Laxmi Dental IPO is 1,63,09,766 shares, aggregating up to ₹698.06 Crores
Where will the Laxmi Dental IPO be listed?
The shares will be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
When is the Laxmi Dental IPO listing date?
The listing date is scheduled for January 20, 2025.