Laxmi Dental Limited, an integrated dental products manufacturing company, is gearing up for an exciting market debut with its highly anticipated initial public offering (IPO), raising a total of ₹698.06 crores. This is your chance to get in on the action as the company opens its IPO from January 13 to January 15, 2025. The offering comprises a fresh issue of 0.32 crore shares valued at ₹138 crores, alongside an offer for sale of 1.31 crore shares worth ₹560.06 crores.
With a carefully crafted price band of ₹407 to ₹428 per share and a lot size of 33 shares, the IPO provides an attractive entry point for investors. For retail investors, this means a minimum investment of ₹14,124 — an affordable gateway to potentially benefiting from Laxmi Dental’s growth trajectory. The share allotment is expected to be finalized by January 16, 2025, with the stock set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) by January 20, 2025. Don’t miss your chance to be part of a leading dental products manufacturer’s exciting journey. Invest in Laxmi Dental today!
Laxmi Dental Limited IPO is a fundraise worth ₹698.06 crores comprising fresh issue of 0.32 crore shares and offer for sale of 1.31 crore shares. The IPO will be available for subscription from January 13, 2025, to January 15, 2025, providing an opportunity for investors looking to gain a stake in the dental products segment.
| Laxmi Dental IPO date | January 13, 2025 - January 15, 2025 |
| Price band | ₹407 to ₹428 per share |
| Face value | ₹2 per share |
| Lot size | 33 shares |
| Issue type | Book-built issue IPO |
| Fresh issue | 32,24,299 shares amounting to ₹138 crores |
| Offer for Sale (OFS) | 1,30,85,467 shares amounting to ₹560.06 crores |
| Total issue size | 1,63,09,766 shares amounting to ₹698.06 crores |
| Listing at | BSE, NSE |
| Share holding post issue | 5,49,62,149 |
| Share holding pre issue | 5,17,37,850 |
The Laxmi Dental Limited IPO opens for subscription on January 13, 2025, and closes on January 15, 2025, with allotment slated for January 16, 2025.
| IPO open date | January 13, 2025 (Monday) |
| IPO close date | January 15, 2025 (Wednesday) |
| Basis of allotment | January 16, 2025 (Thursday) |
| Initiation of refunds | January 17, 2025 (Friday) |
| Credit of shares to demat account | January 17, 2025 (Friday) |
| Listing date on exchanges | January 20, 2025 (Monday) |
| Cut-off time for UPI mandate confirmation | 5 PM on January 15, 2025 (Wednesday) |
Laxmi Dental Limited, founded in July 2004, is a fully integrated dental products company offering a wide range of products, including custom crowns and bridges, clear aligners, thermoforming sheets, and pediatric dental solutions. Their product portfolio also includes specialized items like biocompatible 3D printing resins and machines for manufacturing clear aligners under the brand name “Taglus”. With a comprehensive approach, the company handles everything from design and manufacturing to the distribution of dental products.
The company operates six manufacturing facilities across the country, with locations in Mumbai, Boisar, and Kochi, alongside five supporting facilities in major cities like Delhi, Bengaluru, and Ahmedabad. Laxmi Dental has a strong presence in over 320 cities, serving more than 22,000 dental clinics and professionals nationwide. With a significant international footprint, the company exports to over 90 countries and employs over 2,370 people, reinforcing its position as a key player in the dental products industry.
The company intends to use the net proceeds from the fresh issue for several key purposes, including repaying or prepaying a portion of its outstanding borrowings. Additionally, funds will be allocated towards investments in certain subsidiaries to help them manage their borrowings. A portion of the proceeds will also be used for capital expenditure, specifically to purchase new machinery for the company. Investment will be made in the subsidiary, Bizdent Devices Private Limited, to meet its capital expenditure needs for new machinery. Finally, a portion of the funds will be used for general corporate purposes.
The Laxmi Dental Limited IPO showcases a healthy market capitalization of ₹2,352.38 crores. Key performance indicators, as on March 31, 2024, reflect the company's financial health, with a Return on Equity (RoE) of 78.78%, Return on Capital Employed (RoCE) of 19.97%, and Debt-to-Equity ratio of 0.94.
The Return on Net Worth (RoNW) stands at 78.78%, the Price-to-Book Value (P/BV) is seen at 49.59, and the PAT Margin is 13.03. A comparison of earnings per share (EPS) reveals a pre-IPO EPS of ₹4.88 while it is ₹8.27 post-IPO. Similarly, the pre-IPO price-to-earnings (P/E) ratio is 87.77 and it is 51.73 post-IPO.
| Period Ended | September 30, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Revenue | 117.90 | 195.26 | 163.84 | 138.07 |
| Assets | 158.22 | 134.52 | 96.54 | 102.75 |
| Profit After Tax | 22.74 | 25.23 | -4.16 | -18.68 |
| Net Worth | 67.09 | 44.57 | 19,84 | 22.94 |
| Total Borrowing | 40.91 | 42.03 | 31.44 | 29.63 |
Amount in ₹ crores
Laxmi Dental Limited stands out as India's only integrated dental products company, making it uniquely positioned to capture the growth potential in the dental industry. The company boasts a robust portfolio of products, including custom crowns, clear aligners, and thermoforming sheets, with a vertically integrated model that handles everything from design to manufacturing and distribution.
Additionally, Laxmi Dental has established itself as the second-largest player in the domestic laboratory business and the largest export laboratory, capitalizing on the increasing adoption of digital dentistry. Its large dental network, spanning over 22,000 clinics and dentists across 320 cities, provides a significant competitive advantage, ensuring widespread market access. The company’s commitment to technological advancements and regulatory compliance further enhances its reputation for high-quality standards.
The company’s leadership and experienced management team bring considerable industry expertise, allowing Laxmi Dental to maintain its position in the market. With a strong presence in both domestic and international markets, the company exports to over 90 countries, leveraging its diversified product offerings and large-scale operations. These strengths, along with a robust infrastructure of six manufacturing facilities, give Laxmi Dental the tools needed to tap into both current and future industry growth opportunities.
Despite its strengths, Laxmi Dental faces several challenges that could impact its financial stability and operations. The company has reported consistent losses after tax and negative earnings per share in the last two fiscal years, coupled with the write-off of assets. Such financial setbacks raise concerns over the sustainability of its growth, as there is no assurance that these issues will not recur. Moreover, the company is heavily reliant on its reputation and brand image, which makes it vulnerable to any negative publicity or damage to its brand, potentially affecting its market standing and financial performance.
Additionally, Laxmi Dental’s operations are concentrated in certain geographic regions, such as Mumbai and its surrounding areas, leaving it exposed to risks from regional disruptions. With most of its critical manufacturing facilities located in this area, any disturbances, such as natural calamities or socio-political issues, could severely impact its business. The company also faces ongoing legal proceedings that involve its promoters, subsidiaries, and directors, which may divert management’s attention and resources, further complicating its financial and operational prospects. Furthermore, Laxmi Dental’s business heavily depends on expanding and retaining its dental network, and any failure to achieve this in a cost-effective manner could negatively affect its sales and market share.
The Laxmi Dental Limited IPO presents an exciting opportunity for investors to enter the dental products segment at an early stage. While the potential for early investment is enticing, it’s essential to evaluate the company's fundamentals, market position, and growth potential. Interested investors should conduct thorough research to ensure that this opportunity aligns with their financial goals and risk profile, turning a promising investment into a well-informed financial decision. Consider reviewing the offer document and seeking professional advice before moving forward.
What is the Laxmi Dental IPO?
The Laxmi Dental Limited IPO is a main-board offering consisting of a fresh issue of 0.32 crore equity shares and an offer for sale of 1.31 crore shares with a face value of ₹2 per share, aiming to raise a total of ₹698.06 crores. The share price is set between ₹407 and ₹428, with a minimum order quantity of 33 shares. This IPO will be open for subscription from January 13, 2025, to January 15, 2025. Link Intime India Private Limited is the registrar while Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited are the book-running lead managers.
When will the Laxmi Dental IPO open?
The Laxmi Dental Limited IPO will open for subscription on January 13, 2025, and will close on January 15, 2025.
When is the Laxmi Dental IPO listing date?
The tentative listing date for the Laxmi Dental Limited IPO is Monday, January 20, 2025.
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