Laxmi Dental IPO Details, Price, Lot Size
Laxmi Dental's IPO opens for public bidding on January 13 aiming to raise Rs 698 crore. The IPO includes fresh equity issuance worth Rs 138 crore and an OFS worth Rs 560.06 crore. Shares are to be listed on NSE and BSE on January 20.
Laxmi Dental Limited, as of March 31, 2024, is India's only fully integrated dental products company. It offers a wide array of solutions, including custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets, aligner-related products, and even pediatric dental items. Laxmi Dental ranks within the top two largest dental labs in India on a revenue basis for FY 2023. It operates in both local and international markets, which consist of the USA, UK, and European markets. As a company established over two decades ago, this firm has extensively built a large network that services over 20,000 clinics, dentists, and firms dealing with the dental business. Laxmi Dental exported to more than 95 countries and distributed its products across 300 cities in India between FY 2022 and FY 2024.
🦷 Laxmi Dental Limited IPO
🗓️Date: 13 - 15 Jan,2025
🏷️Price Band: ₹407- ₹428
📦Market Lot: 33 Shares
💰Application Amount: ₹14,124
📏Size: ₹698 Cr Approx
👦Retail Portion: 10%
📃 Retail Form: 49,424
📄HNI Small Form: 1,647
📄HNI Big Form: 3,295
🏷️Face Value: ₹2
The company runs six state-of-the-art manufacturing facilities, aggregating to 146,804.42 square feet. It is located in Mira Road within the Mumbai Metropolitan Region, Boisar, Maharashtra, and Kochi, Kerala. Five supporting manufacturing facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad complement its operations. Laxmi Dental currently employs 2,299 full-time employees as of March 2024 and has established itself as a significant player in the dental products market.
The much-awaited Laxmi Dental IPO is going to open for subscription from January 13 to 15, 2025, with an issue price of INR 407 to INR 428 per share. It comprises a fresh issue worth INR 150 crore and an Offer for Sale of 1,30,85,467 shares amounting to INR 672.05 to INR 698.99 crore. Retail investors will need a minimum of 33 shares to invest which will amount to INR 14,124. Its face value is INR 2 per share, and it keeps 10% of the issue reserved for retail investors. The company will come out listing its shares on the NSE and BSE.
Laxmi Dental has shown a fantastic turnaround in its financial performance over the years. After having suffered losses of INR 18.68 crore in FY 2022 and INR 4.16 crore in FY 2023, the company reported net income of INR 25.23 crore for FY 2024. Revenues went up steadily from INR 136.84 crore in FY 2022 to INR 193.56 crore in FY 2024. In the current FY 2025, so far, a revenue of INR 116.78 crores and a net income of INR 22.74 crores respectively. Margins have improved substantially, reaching 19.47% in H1 FY 2025 from a loss margin of 13.65% in FY 2022.
Laxmi Dental Financial Performance
The IPO shall be used to meet strategic objectives, which include pre-payment of all outstanding borrowings, capital expenditure on new machinery, investments in the subsidiary Bizdent Devices, and general corporate purposes. Now, given a sound financial structure after the IPO, the PE ratio for Laxmi Dental stands between 49.44 and 51.99, which makes an excellent investment.
Laxmi Dental Valuations & Margins
Amongst its competitors like Poly Medicure, such as EPS is at 8.23 and RONW at 78.78%, Laxmi Dental is fairly competitive, being much higher than its competitors. With all its products being fairly innovative, being in a strong market position, and having strategically expanded and strengthened itself into the wallet share, Laxmi Dental has long-term growth potential.
Investors can check the IPO allotment status on the website of IPO Ji or Link Intime, also from the IPO app, whose listing details are to be disclosed soon. The NUVAMA Wealth Management Limited will be the lead manager for this IPO, making it a smooth sailing process. Stellar financial performance and ambitious growth plans, along with market leadership, have made Laxmi Dental IPO a high-interest issue in the eyes of both retail and institutional investors.
Laxmi Dental IPO: Frequently Asked Questions (FAQs)
1. What is Laxmi Dental IPO?
Laxmi Dental IPO is a public issue from the leading India-based dental product company Laxmi Dental Ltd. Laxmi Dental would raise equity shares first from the people and thereby expand the existing businesses through its utilization of proceeds as repayments on borrowings, investment in the subsidiaries, new machinery, etc, for general corporate purposes.
2. On what date shall Laxmi Dental open for subscription?
The Laxmi Dental IPO is going to open for subscription on January 13, 2025, and will close on January 15, 2025.
3. What is the issue price of the Laxmi Dental IPO?
The issue price of the Laxmi Dental IPO ranges between INR 407 to INR 428 per share.
4. What is the minimum lot size of the Laxmi Dental IPO?
The minimum lot size is 33 of the Laxmi Dental IPO and this has a value of INR 14,124.
5. How do I apply for Laxmi Dental IPO?
You may apply for the Laxmi Dental IPO online through the IPO Ji App or website also you can apply through the banking portal by ensuring you have an ASBA facility provided by your bank.
6. What is the face value of the Laxmi Dental IPO shares?
The face value of each share in the Laxmi Dental IPO is INR 2 per share.
7. What is the total size of the Laxmi Dental IPO?
The total size of the Laxmi Dental IPO is approximately ₹698.06 crore, which includes a fresh issue of ₹138.00 crore and an Offer for Sale of 1,30,85,467 shares of ₹2 aggregating up to ₹560.06 Cr.
8. Which of the stock exchanges would be carrying Laxmi Dental's equity shares?
Equity shares of Laxmi Dental will be traded on the National Stock Exchange and Bombay Stock Exchange
9. Financials of Laxmi Dental
For FY 2024, Laxmi Dental reported revenue of INR 193.56 crore and net profit of INR 25.23 crore. The company's financial performance has improved in the last few years, with positive earnings in FY 2024 after two consecutive years of losses.
10. What are the funds raised from the IPO used for?
The funds raised from the IPO will be used for:
- Repayment of borrowings – INR 19.57 crore
- Investment in subsidiaries – Rs. 13.37 cr
- Capital expenditure for machinery- Rs. 37.57 cr
- Investment in Bizdent Devices - Rs. 35.10 cr
- General corporate purposes
11. Who are the lead managers for the Laxmi Dental IPO?
The lead managers for the Laxmi Dental IPO are NUVAMA Wealth Management Limited.
12. What are the key risks that are involved in the Laxmi Dental IPO?
Key risks would be fluctuations in revenue due to market competition, inability to maintain growth in the international markets, and any manufacturing facility-related issues.
13. Is the Laxmi Dental IPO open to retail investors?
Yes, it is open for retail investors to apply for Laxmi Dental IPO. 10% of the total issue of Laxmi Dental IPO is reserved for retail investors.
14. How can I get information on IPO allotment?
You can view the status of the allotment on the Link Intime India Private Limited website also from the IPO JI website and App. Do follow this process: fill out the application number along with your PAN and check the status of the allotment made for your IPO.
15. Laxmi Dental IPO's listing dates?
The estimated date of Laxmi Dental IPO listing is in February 2025, after the allotment process is completed with due permission from appropriate authorities.
16. Is Laxmi Dental IPO a good investment?
While Laxmi Dental has exhibited promising growth with positive financial results and an increasing market presence, like any investment, it also comes with a risk. Evaluate your investment goals and risk tolerance before investing in the IPO and get a financial advisor's advice before doing so.
17. What is the present market scenario of Laxmi Dental?
Laxmi Dental is in a growth sector. At present, the company commands very high market shares in India and international markets. The innovative products combined with its robust distribution network place it as an ideal candidate to sustain long-term growth.
18. What are the key highlights of Laxmi Dental's business?
Some key highlights of Laxmi Dental are as follows:
- Leading provider of custom dental products in India.
- International market presence in over 95 countries
- Robust manufacturing infrastructure with six state-of-the-art facilities.
- Consistent revenue growth and profitability in FY 2024.
