IPO Details
RHP/DRHPIssue Date
--
Investment/lot
₹ 14124
Price Range
407 - 428
Lot Size
33
IPO Size
₹ 698.06 Cr
IPO Listing Details
Listing On
20 Jan'25
Issue Price
428
Listed Price
₹ 542
Retail Gain/Listing Gain
▲26.64%
Schedule of Laxmi Dental IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
20/01/2025
About Laxmi Dental Limited IPO
Laxmi Dental Care IPO is an IPO of ₹698.06 crores. It consists of an offer for sale of 1, 30, 85, 467 shares of ₹2 aggregating to ₹560.06 crores and a fresh issue consisting of 32,24,299 shares of aggregating up to ₹138 crores. The share allotment will take place on Jan 16, 2025. The shares will be credited to the demat account on Jan 17, 2025 and the refunds will be initiated on Jan 17, 2025.
Objective of Laxmi Dental Limited IPO
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company
- Investment in certain Subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings
- Funding the capital expenditure requirements to purchase new machinery for the company
- Investment in the subsidiary, Bizdent Devices Private Limited, for the capital expenditure requirements to purchase new machinery
Laxmi Dental Limited IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | ₹428 |
Existing Shares to be Sold | 1,30,85,467 equity shares of ₹2 |
Fresh Issue | 32,24,299 shares aggregating to ₹138 crores |
EPS (₹) | 4.88 (FY24) |
Laxmi Dental Limited IPO Lot Size
| 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 |
Laxmi Dental Limited IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIB Shares Offered | Not less than 75% of the Offer |
Retail Shares Offered | Not more than 10% of the Offer |
NII (HNI) Shares Offered | Not more than 15% of the Offer |
Industry Outlook
The Indian Healthcare Industry is expected to reach $636 bn by 2025. India's dental care services market is estimated to be US$ 3.4 Bn in 2023 and expected to grow at a rate of 12.6% to reach US $7.8 Bn in 2030.
Company Information
Laxmi Dental Limited offers a comprehensive suite of dental products. It is India’s only end-to-end integrated dental products company as of September 2024. The company makes custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets and other aligner related products.
Strengths of Laxmi Dental Limited IPO
Laxmi Dental Limited is the only integrated dental products company in India, well positioned to capture industry tailwinds
The second largest player in the domestic laboratory business and owner of the largest export laboratory in the digital dentistry space.
Robust technologically advanced capabilities with stringent regulatory compliance ensuring high-quality standards
Risks of Laxmi Dental Limited IPO
The company has reported consolidated loss after tax, negative earnings per share for FY23 and FY22. They have also written off assets in the last three fiscals. The negative financials have impacted the company and their business.
Their business is concentrated in certain jurisdictions, globally and domestically, and any loss of business in such regions could hurt the business.
There are outstanding legal proceedings involving the company, subsidiaries, promoters, and directors. Any adverse turn in these proceedings could hurt the business.
All Financial Information about Laxmi Dental
Particulars (in Rs. million)
Particulars (in Rs. million)
Comparison with peers
| Name of Company | Face Value (₹ per share) | Total Income | EPS (Diluted) | NAV | P/E | RoNW |
|---|---|---|---|---|---|---|
Laxmi Dental Limited | 2 | 1,95.264 | 4.80 | 8.63 | NA | 78.78 |
Poly Medicure Limited | 5 | 14,34.544 | 26.90 | 153.22 | 94.02 | 19.05 |
Anchor Investor Information
The anchor bidding will take place one day before the IPO opens i.e., it will take place on 10th Jan, 2025.
IPO Registrar and Book Running Lead Managers
Nuvama Wealth Management Limited
Motilal Oswal Investment Advisors
SBI Capital Markets Limited
Registrar for the IPO is MUFG Intime India Private Limited
Business Model
-
The company makes custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets and aligner-related products as a part of aligner solutions and pediatric dental products.
-
Primary dental products offered by the laboratory include custom made dental prosthesis and dentures.
-
Sale of branded intraoral scanners such as iScanPro and branded intraoral scanners for digital dentistry. Company Growth Trajectory
-
The company’s revenue from operations has grown from ₹136.843 crores in FY22 to ₹193.555 crores in FY24. The profit has also grown (18.679) crores in FY22 to ₹25.229 crores in FY24.
Company Market Position
Laxmi Dental Limited is the only end-to-end integrated dental products company as of Sept 2024. According to revenue, they are the top two largest Indian dental laboratories. In terms of revenue for FY23, among all dental labs, they are the largest exporter for custom-made dental prosthesis.
Laxmi Dental Limited Company Profit & Loss
| Metric | FY22 (₹ Mn) | FY23 (₹ Mn) | FY24 (₹ Mn) |
|---|---|---|---|
Total Income | 1,38.070 | 1,63.844 | 1,95.264 |
Profit Before Tax | (14.712) | (4.261) | 8.524 |
Net Profit | (18.679) | (4.163) | 25.229 |
EBITDA | 5.413 | 8.964 | 23.790 |
Cash Flow Statement
| Parameter/Year | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax | (16.163) | (4.577) | 6.924 |
Cash used in Operating activities | (1.995) | 14.441 | 8.151 |
Cash used in investing activities | 3.042 | (9.394) | (14.435) |
Cash used in financing activities | 0.966 | (1.451) | (4.027) |
Cash and cash equivalent at the end of the year | (13.892) | (10.414) | (15.908) |
How To Check the Allotment Status of Laxmi Dental Limited IPO?
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar — MUFG Intime India Private Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is MUFG Intime India Private Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the Link Intime website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Laxmi Dental Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
Laxmi Dental IPO FAQs
When is Laxmi Dental IPO listing date?
Laxmi Dental IPO will list on 2025-01-20.
What is the issue size of Laxmi Dental IPO?
698.06 is the issue size of Laxmi Dental IPO.
What is the minimum lot size required for Laxmi Dental IPO?
The minimum lot size is 33 shares and the investment required is ₹14124.
What is the price band of the Laxmi Dental IPO?
The price band of Laxmi Dental IPO is ₹407 to ₹428.
Where can I read more about Laxmi Dental business?
You can read more about Laxmi Dental and its IPO from the company’s red herring prospectus (RHP) here.
What is the Laxmi Dental Limited IPO?
The Laxmi Dental Limited IPO has an issue size of ₹698.06 crores. The IPO opens for subscription on 13/1/2025 and closes on 15/1/2025.
Who is the Registrar for Laxmi Dental Limited IPO?
MUFG Intime India Private Limited is the registrar for this IPO.
