Laxmi Dental Limited is gearing up to launch its ₹698.06 crore IPO, making waves in the healthcare sector. This much-anticipated IPO opens for public subscription on January 13, 2025, and closes on January 15, 2025. Laxmi Dental IPO price is set between ₹407 to ₹428 per share with shares expected to list on January 20, 2025 on the BSE and NSE.
This IPO stands out with a combination of a fresh issue of ₹138 crore and an offer-for-sale of ₹560.06 crore by promoters and existing shareholders.
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About Laxmi Dental Limited
From a Dental Lab to an Industry Leader
Incorporated in 2004, Laxmi Dental Limited has grown into India’s only fully integrated dental products company. The company offers a wide array of products, including:
- Custom crowns and bridges
- Clear aligners
- Thermoforming sheets
- Pediatric dental products
Laxmi Dental operates six manufacturing units across Mumbai, Boisar, and Kochi, with additional support facilities in Delhi, Bengaluru, and Ahmedabad. Its 22,000+ clinic network spans across 320 cities in India and over 90 export markets globally.
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Why Is Laxmi Dental Launching an IPO?
The IPO aims to support Laxmi Dental’s growth plans by:
- Reducing outstanding debts
- Funding new machinery for expansion
- Strengthening subsidiary Bizdent Devices
- Supporting general corporate initiatives
Laxmi Dental IPO Financial Performance
A closer look at Laxmi Dental’s performance over the past three years shows impressive growth:
Metric (₹ crore) | FY 2022 | FY 2023 | FY 2024 | H1 FY25 (Sep 2024) |
Revenue | 138.07 | 163.84 | 195.26 | 117.9 |
Profit After Tax (PAT) | -18.68 | -4.16 | 25.23 | 23 |
Assets | 102.75 | 96.54 | 134.52 | 158 |
Net Worth | 22.94 | 19.48 | 44.57 | 67 |
Borrowings | 29.63 | 31.44 | 42.03 | 40.91 |
Key IPO Details
Detail | Value |
IPO Date | January 13 – January 15, 2025 |
Listing Date | January 20, 2025 |
Price Band | ₹407 – ₹428 per share |
Lot Size | 33 shares |
Minimum Investment (Retail) | ₹14,124 |
Fresh Issue | ₹138 crore |
Offer for Sale | ₹560.06 crore |
Total Issue Size | ₹698.06 crore |
Face Value | ₹2 per share |
Listing | BSE, NSE |
Lead Managers | SBI Capital, Motilal Oswal, Nuvama |
Shareholding Pattern
Category | Pre-Issue | Post-Issue |
Promoters | 46.56% | TBD |
Public | 53.44% | TBD |
Total Shares | 5,17,37,850 | 5,49,62,149 |
IPO Reservation
Investor Category | Shares Offered |
QIB (Qualified) | Not less than 75% of the net issue |
Retail | Not more than 10% of the offer |
NII (HNI) | Not more than 15% of the offer |
Utilization of IPO Funds
The IPO proceeds will be allocated to the following objectives:
- Debt Repayment – Significant reduction of outstanding debt.
- Capital Expansion – Investment in advanced machinery to enhance production capacity.
- Subsidiary Growth – Capital injection into Bizdent Devices Private Ltd.
- Operational Improvements – Funds for general corporate purposes.
Why Consider Investing in Laxmi Dental IPO?
Advantages:
- Industry Leader – The only integrated dental products company in India.
- Global Reach – Presence in 90+ countries with exports and strong domestic demand.
- Financial Turnaround – Profit growth from -₹18 crore in FY22 to ₹25 crore in FY24.
- Expanding Market – Growing demand for clear aligners and dental solutions.
Potential Risks:
- Debt Ratio – The company has a debt/equity ratio of 0.94.
- Valuation Concerns – Post-IPO P/E ratio stands at 51.73x, which may reflect premium pricing.
- Competitive Landscape – Stiff competition from domestic and international players.
Bottom Line
Laxmi Dental’s IPO offers a unique opportunity to invest in a niche yet expanding sector. The company’s financial resilience, broad product portfolio, and growth potential make it an attractive prospect.
As India’s healthcare industry evolves, will Laxmi Dental lead the charge in dental innovation?