Laxmi Dental Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹428
Per ShareLot Size
33 Shares
Minimum Investment
₹14,124
Issue Size
₹698.06 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Laxmi Dental Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
46.56%
Promoter Holding (Post-Issue)
41.7%
Issue Type
Book Building
ISIN
INE0WO601020
About the Company
Being India's only end-to-end integrated dental products company as at September 30, 2024, our comprehensive portfolio includes custom-made crowns and bridges, branded dental products such as aligner solutions including clear aligners, thermoforming sheets, aligner-related products, and paediatric dental products. Our presence spans 20+ years, and per the F&S Report, based on revenue for Fiscal 2024, we are amongst the top two largest Indian dental laboratories.
Industry Overview
In terms of retail sales, (I) Indian custom-made crowns and bridges market is estimated to grow from $1.4-$3.1 billion between 2023-2030 at 11.8% compared to global market estimate from $71-$121.6 billion between 2023-2030 at 8.0%; (II) Indian clear aligner market is estimated to grow from $133.6-$569.0 million between 2023-2030 at 23.0% compared to global market estimate from $20.7-$54.9 billion between 2023-2030 at 15.0%. (III) Indian paediatric dental crown market is estimated to grow from $63.9-$164.8 million between 2023-2030 at 14.5% compared to global market estimate from $2.1-$3.5 billion between 2023-2030 at 7.5%.
Company History
Our Company was incorporated as `Laxmi Dental Export Private Limited' as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated July 8, 2004, issued by the Assistant Registrar of Companies, Maharashtra at Mumbai. Pursuant to a special resolution passed in the extra-ordinary general meeting of our Shareholders held on June 18, 2024, the name of our Company was changed to `Lxmi Dental Private Limited', and a fresh certificate of incorporation was issued to our Company by the RoC on July 24, 2024, and our Company was converted into a public limited company. Consequently, the name of our Company was further changed to 'Laxmi Dental Limited', and a fresh certificate of incorporation dated August 02, 2024, was issued by the RoC.
Growth Strategy
- Deepen our penetration amongst existing Dental Network while also expanding our Dental Network.
- Continue to scale up our branded product offerings.
- Undertake product enhancements of existing dental products and launch new dental products.
- Enhance manufacturing capacities with increasing focus on automation and adoption of new technologies.
- Continue to follow a multi-channel approach in marketing.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 16,309,766 equity shares of face value of Rs. 2/- each ("Equity") of Laxmi Dental Limited (the "Company" or the "Issuer") for cash at a price of Rs. 428.00 per equity share including a share premium of Rs. 426.00 per equity share (the "Offer Price") aggregating up to Rs. 698.06 crores (the "Offer"). The offer comprises of a fresh issue of up to 3,224,29 equity shares of face value of Rs. 2/- each by the company aggregating up to Rs. 138.00 crores (the "Fresh Issue") and an offer for sale of up to 13,085,467 equity shares of face value of Rs. 2/- each (the "Offered Shares") aggregating up to Rs. 560.06 crores (the "Offer for Sale"), comprising of up to 196,604 equity shares of face value of Rs. 2/- each aggregating up to Rs. 8.41 crores by Rajesh Vrajlal Khakhar, up to 434,598 equity shares of face value of Rs. 2/- each aggregating up to Rs. 18.60 crores by Sameer Kamlesh Merchant (Together the "Promoter Selling Shareholders"), up to 239,838 equity shares of face value of Rs. 2/- each aggregating up to Rs. 10.26 crores by Jigna Rajesh Khakhar, up to 150,040 equity shares of face value of Rs. 2/- each aggregating up to Rs. 6.42 crores by Hasmukh Vrajlal Khakhar, up to 150,040 equity shares of face value of Rs. 2/- each aggregating up to Rs. 6.42 crores by Amrish Mahendrabhai Desai, up to 150,040 equity shares of face value of Rs. 2/- each aggregating up to Rs. 6.42 crores by parag Jamnadas Bhimjiyani, up to 150,040 equity shares of face value of Rs. 2/- each aggregating up to Rs. 6.42 crores by Kunal Kamlesh Merchant (Together the "Other Selling Shareholders"), up to 11,614,267 equity shares of face value of Rs. 2/- each aggregating up to Rs. 497.09 crores by Orbimed Asia II Mauritius Limited (the "Investor Selling Shareholder") (the Promoter Selling Shareholders, the Investor Selling Shareholder and the Other Selling Shareholders, Collectively Referred to as the "Selling Shareholders") (the "Offer for Sale, and Together with the Fresh Issue, the "Offer"). The offer will constitute 29.67 % of the post-offer paid-up equity share capital of the company. The Issue Price is Rs. 428.00 per equity share of face value of Rs. 2/- each. The issue price is 214 times the face value of the equity shares. Bid can be made for a minimum of 33 equity shares and in multiples of 33 equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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 providing us with competitive advantage in the market.
- Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.
- The Company has reported consolidated loss after tax, negative earning per share for Fiscals 2023 and 2022, and written off Assets in last three Fiscals and its cannot assure that the company will not experience such events in the future.
- Its Statutory Auditors have included an emphasis of matter in their auditor's report on its audited financial statements as at and for the Financial Year ended 2024 and 2023.
- Its business success depends on expanding the company Dental Network, recommendations by its Dental Network and increasing the wallet share per dental clinic, dental company and dentist. Failures to achieve this in a cost-effective manner could have an adverse effect on its business, results of operations and financial condition.
- The company's business is concentrated in certain jurisdictions, globally and domestically, and any loss of business in such regions could have an adverse effect on its business, results of operations and financial condition.
- There are outstanding legal proceedings involving the Company, Subsidiaries, Promoters, and Directors which could have an adverse effect on its business, financial condition and results of operations.