About Laxmi Dental Limited
Incorporated in July 2004, Laxmi Dental Limited is an integrated dental products company. The company offers custom crowns and bridges, branded dental items like clear aligners and thermoforming sheets, aligner-related products as part of its aligner solutions, and pediatric dental products.
Their product portfolio includes custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental products, and more.
The company offers thermoforming sheets, biocompatible 3D printing resins, and machines for manufacturing clear aligners under the brand name Taglus.
The company operate a fully integrated model, meaning they handle the entire process from design and manufacturing to distribution of dental products.
As of September 30, 2024, the company has six manufacturing facilities: three in Mira Road, Mumbai, two in Boisar, and one in Kochi, along with five supporting facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad.
As of September 30, 2024, the company’s dental network includes over 22,000 clinics and dentists across more than 320 cities nationwide.
The company has significant presence in both domestic and international markets, exporting to over 90 countries.
As of September 30, 2024, the company had 2,372 employees in various departments.
Competitive strengths
- 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 provide a competitive advantage in the market;
- Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.
Laxmi Dental IPO is a book built issue of Rs 698.06 crores. The issue is a combination of fresh issue of 0.32 crore shares aggregating to Rs 138.00 crores and offer for sale of 1.31 crore shares aggregating to Rs 560.06 crores.
Laxmi Dental IPO opens for subscription on January 13, 2025 and closes on January 15, 2025. The allotment for the Laxmi Dental IPO is expected to be finalized on Thursday, January 16, 2025. Laxmi Dental IPO will list on BSE, NSE with tentative listing date fixed as Monday, January 20, 2025.
Laxmi Dental IPO price band is set at ₹407 to ₹428 per share. The minimum lot size for an application is 33. The minimum amount of investment required by retail investors is ₹14,124. The minimum lot size investment for sNII is 15 lots (495 shares), amounting to ₹2,11,860, and for bNII, it is 71 lots (2,343 shares), amounting to ₹10,02,804.
Laxmi Dental IPO Details
| IPO Date | January 13, 2025 to January 15, 2025 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹407 to ₹428 per share |
| Lot Size | 33 Shares |
| Total Issue Size | 1,63,09,766 shares (aggregating up to ₹698.06 Cr) |
| Fresh Issue | 32,24,299 shares (aggregating up to ₹ 138.00 Cr) |
| Offer for Sale | 1,30,85,467 shares of ₹2 (aggregating up to ₹560.06 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,17,37,850 shares |
| Share Holding Post Issue | 5,49,62,149 shares |
Laxmi Dental IPO Timeline (Tentative Schedule)
Laxmi Dental IPO opens on January 13, 2025, and closes on January 15, 2025.
| IPO Open Date | Monday, January 13, 2025 |
| IPO Close Date | Wednesday, January 15, 2025 |
| Basis of Allotment | Thursday, January 16, 2025 |
| Initiation of Refunds | Friday, January 17, 2025 |
| Credit of Shares to Demat | Friday, January 17, 2025 |
| Listing Date | Monday, January 20, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 15, 2025 |
Laxmi Dental IPO Lot Size
Investors can bid for a minimum of 33 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| B-HNI (Min) | 71 | 2,343 | ₹10,02,804 |
Laxmi Dental IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
Laxmi Dental IPO Anchor Investors Details
Laxmi Dental IPO raises Rs 314.13 crore from anchor investors. Laxmi Dental IPO Anchor bid date is January 10, 2025. Laxmi Dental IPO Anchor Investors list
| Bid Date | January 10, 2025 |
| Shares Offered | 73,39,395 |
| Anchor Portion Size (In Cr.) | 314.13 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 15, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 16, 2025 |
Laxmi Dental IPO Promoter Holding
Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant and Dharmesh Bhupendra Dattani are the promoters of the company.n
| Share Holding Pre Issue | 46.56% |
| Share Holding Post Issue |
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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Laxmi Dental IPO is Rs 2352.38 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 78.78% |
| ROCE | 19.97% |
| Debt/Equity | 0.94 |
| RoNW | 78.78% |
| PAT Margin | 13.03 |
| Price to Book Value | 49.59 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.88 | 8.27 |
| P/E (x) | 87.77 | 51.73 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.
Objects of the Issue (Laxmi Dental IPO Objectives)
Objects of the Fresh Issue Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- 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 for purchasing new machinery for the Company.
- Investment in our subsidiary, Bizdent Devices Private Limited, is needed for the capital expenditure requirements for the purchase of new machinery.
- General corporate purposes.
