Laxmi Dental Limited

Laxmi Dental Limited

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹407 - ₹428

Total Issue

₹698.06 Cr

Bid Dates

13 Jan - 15 Jan

Subscription

114.42x

Est. GMP

₹114 (26.64%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

India’s only fully integrated dental products manufacturer as of Sept 2024 (F&S Report, page 288), the company offers a comprehensive portfolio, including custom-made crowns and bridges, branded dental products like clear aligners, thermoforming sheets, and pediatric dental products. With over 20 years of presence, it ranks among the top two Indian dental laboratories by revenue in FY 2024. It is also the largest and most profitable indigenous B2B2C dental aligner solutions provider (F&S Report, page 286). Its dental products are manufactured across six facilities spanning 147,029.63 sq. ft. In FY 2024, the Laboratory division contributed 64.75% of revenue, Aligner solutions 28.12%, and others 7.13%.

Lot Info

Lot Information for Laxmi Dental IPO
Category 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
B-HNI (Min) 71 2,343 ₹10,02,804

Category Reservation

QIB 75%
NII 15%
Ret 10%
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹698.06 Cr
Fresh Issue
₹138.00 Cr (0.32 Cr Shares)
Offer For Sale
₹560.06 Cr (1.31 Cr Shares)

Objects of Issue

1. Repayment of outstanding borrowings availed by the Company.
2. Investment in certain Subsidiaries for the repayment of outstanding borrowings.
3. Funding the Capex requirements for purchase of new machinery for the Company.
4. Investment in our Subsidiary, Bizdent Devices Private Limited, for the Capex requirements for the purchase of new machinery.
5. General corporate purposes.

Grey Market Premium

GMP ₹114
Est. Price ₹542
Est. Gain 26.64%

Laxmi Dental IPO Peer Comparison

(Rs. in crores)

Laxmi Dental IPO Peer Comparison Table
Particulars Co. Poly Medicure
Revenue from operations 193.56 1,375.80
Profit after Tax 25.23 258.26
EPS (Basic) 4.80 26.92
NAV per share 8.63 153.22
Price to Earning 83.76 94.02
PAT Margin (%) 13.03% 18.77%
  • All information pertains to FY 2023-24.
  • PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 24, 2024 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Laxmi Dental IPO
Particulars Sep-24 Mar-24 Mar-23 Mar-22
Revenue from Operations 116.78 193.56 161.63 136.84
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
Total Assets 158.22 134.52 96.54 102.75
NAV per share (in ₹) 12.97 8.63 3.77 4.44
EPS - Basic (in ₹) 4.39 4.80 -0.77 -3.56

KPIs

ROCE (%)

19.97%

ROE (%)

78.78%

EBITDA (%)

12.29%

PAT (%)

13.03%

Price to earning (PE)

83.76

Mkt Cap (in Crs.)

2,352

Price to Book (PB)

49.59

  • All the data pertains to FY 2023-24.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

0.26%

Public

99.74%

Rajesh Vrajlal Khakhar 18.34%
Sameer Kamlesh Merchant 17.59%

Management

Rajesh Vrajlal Khakhar Chairperson
Sameer Kamlesh Merchant MD & CEO
Dharmesh Bhupendra Dattani Chief Financial Officer

Registrar & Lead Managers

Registrar

MUFG Intime India

MUFG Intime India

Subscription Status

Updated as on 15-Jan-2025 19:00:00

Mainboard Subscription Status for Laxmi Dental IPO
Category Sub (x) Offered Bids
QIB 110.38 48,92,930 54,00,81,366
NII 147.95 24,46,465 36,19,65,549
bHNI 167.68 16,30,977 27,34,89,216
sHNI 108.49 8,15,488 8,84,76,333
Retail 76.23 16,30,977 12,43,37,400
Total 114.42 89,70,372 1,02,63,84,315

Subscription data excludes the Anchor Investor portion.

Frequently Asked Questions

What is Laxmi Dental IPO?
Laxmi Dental IPO is a Mainboard IPO having an issue size of ₹698.06 Crs. Laxmi Dental IPO is priced at ₹407 - ₹428 per share. The issue opens on 13 Jan 25 and closes on 15 Jan 25.
When will Laxmi Dental IPO open?
Laxmi Dental IPO opens on 13 Jan 25 and closes on 15 Jan 25.
What is the GMP of Laxmi Dental IPO?
The estimated Grey Market Premium of Laxmi Dental IPO is ₹114 per share (26.64%).
What is the lot size of Laxmi Dental IPO?
The minimum lot size of Laxmi Dental IPO is 33 shares & the minimum application amount is Rs. 14124.
When is the allotment of Laxmi Dental IPO?
The allotment date of Laxmi Dental IPO is 16 Jan 25.
What is the listing date of Laxmi Dental IPO?
The listing date of Laxmi Dental IPO is 20 Jan 25.
What is the subscription of Laxmi Dental IPO?
Laxmi Dental IPO is subscribed 114.42 times.
What is the price band of Laxmi Dental IPO?
Laxmi Dental IPO is priced at ₹407 - ₹428 per share.
How to check allotment status of Laxmi Dental IPO?
Click the allotment link on Laxmi Dental IPO page of IPO360.
How to apply Laxmi Dental IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Laxmi Dental IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Laxmi Dental IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Laxmi Dental IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date