LAXMI DENTAL LIMITED
₹ 407 - ₹ 428
13-Jan-2025 - 15-Jan-2025
₹ 14124.00

/ 33 Shares

LAXMI DENTAL LIMITED

13-Jan-2025 - 15-Jan-2025

₹ 407 - ₹ 428

Price Band

₹ 14124.00

Minimum Investment

33

Bid Lot

16,309,766

Shares

IPO Details

Fresh Issue of Equity Shares aggregating to RS.138 Cr + Offer for Sale of up to 1,30,85,467 Equity Shares

Category % Shares/Amount
QIB 75% 12,232,326 Shares RS.523.54 CR
HNI 1 5% 815,488 Shares RS.34.90 CR @ 1647 FORM 1X
HNI 2 10% 1,630,976 Shares RS.69.81 CR @ 3295 FORM 1X
Retail 10% 1,630,976 Shares RS.69.81 CR @ 49424 FORM 1X

BRLMs: Nuvama Wealth Management Ltd, Motilal Oswal Investment Advisors, SBI Capital Markets


Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
49424 FORM 1X 1647 FORM 1X 3295 FORM 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 33 ₹ 14,124
Retail (Upto 2 Lakh) 14 462 ₹ 197,736
S-HNI (2 Lakh to 10 Lakh) 15 495 ₹ 211,860
S-HNI (2 Lakh to 10 Lakh) 70 2310 ₹ 988,680
B-HNI (Above 10 Lakh) 71 2343 ₹ 1,002,804

IPO Timeline

  • Open Date

    13-Jan-2025
  • Close Date

    15-Jan-2025
  • Basis of Allotment Date

    16-Jan-2025
  • Initiation of Refunds

    17-Jan-2025
  • Credit Shares to Demat A/c

    17-Jan-2025
  • IPO Listing Date

    20-Jan-2025

Subscription as on
13-Jan-2025 17:29

Category Book Size Subscription No. of Times
QIB 4,892,931 ₹ 209.42 Cr. 621,753 ₹ 26.61 Cr. 0.13x
HNI (<10 LAKH) 815,488 ₹ 34.90 Cr. 9,365,400 ₹ 400.84 Cr. 11.48x
HNI2 (>10 LAKH) 1,630,976 ₹ 69.81 Cr. 17,260,914 ₹ 738.77 Cr. 10.58x
RETAIL 1,630,976 ₹ 69.81 Cr. 20,444,292 ₹ 875.02 Cr. 12.54x
Total 8,970,371 47,692,359 5.32x
Category Book Size Subscription No. of Times
QIB 4,892,931 ₹ 209.42 Cr. 621,753 ₹ 26.61 Cr. 0.13x
HNI (<10 LAKH) 815,488 ₹ 34.90 Cr. 9,365,400 ₹ 400.84 Cr. 11.48x
HNI2 (>10 LAKH) 1,630,976 ₹ 69.81 Cr. 17,260,914 ₹ 738.77 Cr. 10.58x
RETAIL 1,630,976 ₹ 69.81 Cr. 20,444,292 ₹ 875.02 Cr. 12.54x
Total 8,970,371 47,692,359 5.32x

*Excluding Anchor

Total No. of Application Approx : ~608075 (12.30 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • The Company was incorporated as ‘Laxmi Dental Export Pvt. Ltd’ on July 8, 2004, at Mumbai, Maharashtra. The name was changed to ‘Laxmi Dental Pvt. Ltd’, on 18 June 2024. Subsequently, on conversion to public limited company the name was changed to ‘Laxmi Dental Limited’, on August 02, 2024.
  • Laxmi Dental is an end-to-end integrated dental products company with comprehensive portfolio including custom-made crowns and bridges, branded dental products such as aligner solutions including clear aligners, thermoforming sheets, aligner-related products, and paediatric dental products.
  • The company is amongst the Top 2 largest Indian dental laboratories based on revenue for FY2024. The company is the largest and most profitable vertically integrated indigenous B2B2C dental aligner solutions company, based on the products offered and revenue from operations and PAT Margin for FY 2023.
  • The company has a presence of 20 years in the dental laboratories business with a reach of over 22,000 dental clinics, dental companies and dentists between FY 2022 to September 30, 2024.
  • The company has 6 manufacturing facilities, 3 of which are in Mira Road, MMR, 2 in Boisar, MMR, Maharashtra and 1 in Kochi, Kerala, and further 5 supporting facilities 2 of which are in Mumbai, and 1 each in Delhi, Bengaluru, and Ahmedabad with manufacturing capabilities.
  • The company’s facilities in Boisar follow the quality system regulations enforced by the US FDA and the manufacturing facilities in Mira Road and Boisar have received certifications for ISO 13485:2016 compliance, an internationally recognized standard for medical device quality.
  • The company launched clear aligners under the brand Illusion Aligners which is the first Indian brand to receive 510(k) clearance from US FDA in 2021 to market clear aligners. Further, it is the is the only aligner company in India which is fully vertically integrated having end-to-end capabilities from raw material to distribution, enabling significant control on the supply chain.
  • The company’s revenues from operations have grown from ? 136.84 Cr in FY2022 to ? 193.56 Cr in FY2024, while the Adjusted EBITDA margins improved from 3.85% in FY2022 to 16.88% in FY2024. The Company reported a Net Profit in FY2024 of ? 25.23 Cr as compared to Net Loss of ? 18.68 Cr in FY2022.
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Strengths

Competitive Strength 

  • The only integrated dental products company in India, well-positioned to capture industry tailwinds
  • Second largest player in domestic laboratory business and largest export laboratory with increasing adoption of digital dentistry
  • Vertically integrated diverse branded product portfolio
  • Large Dental Network providing the company with competitive advantage in the market
  • Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.
  • Experienced management team with significant industry experience

 Business Strategies 

  • Deepen the penetration amongst existing Dental Network while also expanding the Dental Network
  • Continuing to scale up the branded product offerings
  • Undertake product enhancements of existing dental products and launch new dental products
  • Enhance manufacturing capacities with increasing focus on automation and adoption of new technologies
  • Continue to follow a multi-channel approach in marketing

Company Promoters

Company Financials

Laxmi Dental Limited Financial Information (Restated Consolidated)

Period Ended 30 Sep 2024 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 158.22 134.52 96.54 102.75
Revenue 117.9 195.26 163.84 138.07
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

Objects of the Issue

Objects of the Fresh Issue Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

  1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company.
  2. Investment in certain Subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings.
  3. Funding the capital expenditure requirements for purchasing new machinery for the Company.
  4. Investment in our subsidiary, Bizdent Devices Private Limited, is needed for the capital expenditure requirements for the purchase of new machinery.
  5. General corporate purposes.

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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