Laxmi Dental IPO
Open MainLineCurrent GMP
₹145 (+33.88%)
Price Band
₹ 407 – 428
Lot Size
33
Issue Size
₹698.06 Cr
Minimum Investment
₹14124 (33 Shares)
Listing Date
20 January 2025
Subscription
114.26x
About the Company
Laxmi Dental Limited, established for over 20 years, is a leading integrated dental products company in India, with operations spanning across six manufacturing facilities. It offers a comprehensive range of products, including custom-made crowns and bridges, branded dental products like clear aligners and thermoforming sheets, and pediatric dental solutions. By Fiscal 2024, it ranked among the top two largest Indian dental laboratories, and is the largest and most profitable vertically integrated B2B2C dental aligner solutions company.
The company is also the largest exporter of custom-made dental prosthesis in India, catering primarily to markets in the US and UK. Laxmi Dental's portfolio includes metal-free crowns, premium zirconia products, and the launch of digital dental products like the iScanPro intraoral scanner in 2024. Their laboratories adhere to US FDA regulations and ISO 13485:2016 quality standards.
Laxmi Dental is a pioneer in India's clear aligner market, with its brand "Illusion Aligners" being the first Indian brand to receive US FDA 510(k) clearance. The company operates under a B2B2C model, leveraging a network of over 22,000 dental clinics and professionals to distribute its products, ensuring rapid growth and reach. Its vertical integration gives it significant control over the supply chain, from raw materials to distribution.
Additionally, the company has a growing presence in pediatric dental products, offering innovative items like pre-formed metal-free crowns, space maintainers, and Silver Diamide Fluoride (SDF), the only US FDA-cleared version in India. Through its joint venture, Kids-E-Dental, it manufactures products used worldwide, including a globally distributed line of pediatric dental crowns.
Promoters
- Rajesh Vrajlal Khakhar
- Sameer Kamlesh Merchant
- Dharmesh Bhupendra Dattani
Promoters Holding
Holding Pre Issue
46.56%
Holding Post Issue
0.00%
Objects of the Issue
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.
Address / Contact Info
Laxmi Dental Limited
Office No. 103, Akruti Arcade,
J. P. Road, Opposite A.H. Wadia High School
Andheri (West), Mumbai, 400058
Phone: +91 226143799
Email: co.sec@laxmidentallimited.com
Website: https://www.laxmidentallimited.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 13 January 2025
IPO Close Date
Wednesday, 15 January 2025
Basis of Allotment
Thursday, 16 January 2025
Initiation of Refunds
Friday, 17 January 2025
Credit of Shares to Demat
Friday, 17 January 2025
Listing Date
Monday, 20 January 2025 — NSE & BSE
Important Dates
Open Date
13 January 2025
Close Date
15 January 2025
Basis Of Allotment
16 January 2025
Listing Date
20 January 2025
Financial Performance (₹ in Crores)
| Particular | 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 |
| Reserve & Surplus | 0 | 0 | 0 | 0 |
| Total Borrowings | 40.91 | 42.03 | 31.44 | 29.63 |
EPS Pre
4.88%
EPS Post
8.27%
P/E Pre
87.77
P/E (Post Issue)
51.73x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 78.78 |
| ROCE % | 19.97 |
| Debt / Equity | 0.94 |
| RoNW % | 78.78 |
| PbW | 0 |
| Pat Margin % | 13.03 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 7339395 | 45 | 0 |
| Qualified Institutions | 4892931 | 30 | 0 |
| Non-Institutional | 2446464 | 15 | 0 |
| BNII | 1630976 | 10 | 0 |
| SNII | 815488 | 5 | 0 |
| Retail Investors | 1630976 | 10 | 0 |
| Total | 16309766 | 100 | 0 |
Subscription Status ( Wed, 15 Jan 25 01:08 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4892931 | 540081366 | 110.38x |
| Non-Institutional | 2446464 | 361607301 | 147.81x |
| BNII | 1630976 | 273489216 | 167.68x |
| SNII | 815488 | 88118085 | 108.06x |
| Retail Investors | 1630976 | 123232131 | 75.56x |
| Total | 8970371 | 1024920798 | 114.26x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 33 | 14,124.00 |
| Retail (Max) | 14 | 462 | 197,736.00 |
| S-HNI (Min) | 15 | 495 | 211,860.00 |
| S-HNI (Max) | 70 | 2,310 | 988,680.00 |
| B-HNI (Min) | 71 | 2,343 | 1,002,804.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Motilal Oswal Investment Advisors Pvt Ltd
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Laxmi Dental IPO is a Book-building IPO worth ₹698.06 crores. The price band is ₹407 to 428 per share. The IPO opens on Mon, Jan 13, 2025 and closes on Wed, Jan 15, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Laxmi Dental IPO opens on Mon, Jan 13, 2025 and closes on Wed, Jan 15, 2025
Laxmi Dental IPO Price Band is ₹407 to 428.
Laxmi Dental IPO lot size is 33, and the minimum amount required for application is ₹14124.
The minimum investment for Laxmi Dental IPO is approximately ₹14124 based on the upper price band.
To apply for the Laxmi Dental IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Jan 15, 2025. After submission, funds are blocked until the basis of allotment of Laxmi Dental IPO is finalised.
Laxmi Dental IPO issue size is ₹698.06 crores.
Laxmi Dental IPO allotment date is Sat, Jun 27, 2026.
The registrar for Laxmi Dental IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Laxmi Dental IPO through their official website or helpline.
The Laxmi Dental IPO GMP (Grey Market Premium) is ₹145 as of Mon, Jan 20, 2025. Based on the upper price band of ₹428 per share, the estimated Laxmi Dental IPO listing price is ₹573, indicating a potential listing gain of approximately 31% over the issue price.