Laxmi Dental Limited (MAINBOARD)
Jan 13, 2025 - Jan 15, 2025
| Price | ₹407 - ₹428 |
| Premium | ₹145 |
|---|---|
| Lot size | 33 |
| Allotment | Jan 16, 2025 |
| Listing | Jan 20, 2025 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 33 | 14124 | 49424 |
| sHNI | 15 | 495 | 211860 | 1647 |
| bHNI | 71 | 2343 | 1002804 | 3295 |
Last updated on 15-Jan-2025 19:01:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 4892930 | 540081366 | 110.38 |
| HNIs | 2446465 | 361965549 | 147.95 |
| HNIs 10+ | 1630977 | 273489216 | 167.68 |
| HNIs 2+ | 815488 | 88476333 | 108.49 |
| Retail | 1630977 | 124337400 | 76.23 |
| Total | 8970372 | 1026384315 | 114.42 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 3295 | 113782 | 34.53 |
| HNIs (2-10L) | 1647 | 171757 | 104.28 |
| Retail | 49424 | 2966407 | 60.02 |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 209.42 | 23115.48 | 110.38 |
| FIIs | - | 5710.15 | - |
| DIIs | - | 7614.37 | - |
| Mutual funds | - | 1545.38 | - |
| Others | - | 8245.59 | - |
| HNIs | 104.71 | 15492.13 | 147.95 |
| HNIs 10+ | 69.81 | 11705.34 | 167.68 |
| HNIs 2+ | 34.9 | 3786.79 | 108.49 |
| Retail | 69.81 | 5321.64 | 76.23 |
| Total | 383.93 | 43929.25 | 114.42 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹63.4 | @8% ₹72.5 | @9% ₹81.5 | @10% ₹90.6 | @11% ₹99.7 | @12% ₹108.7 |
IPO Details
| Issue Size | Up to 16,309,766 equity shares aggregating up to 698 crores |
| Fresh Issue | Up to 3,224,299 equity shares aggregating up to 138 crores |
| Offer For Sale | Up to 13,085,467 equity shares aggregating up to 560.06 crores |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE,BSE |
| Share holding pre issue | 51,737,850 Equity Shares |
| Share holding post issue | 5,49,62,149 Equity Shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not less than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not Less than 15% of the Net Issue |
Key Performance Indicators
| KPI | Sep-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 40.73% | 78.78% | -19.62% |
| ROCE | 24.64% | 19.97% | -0.33% |
| RONW | 40.73% | 78.78% | -19.62% |
| D/E | 0.61 | 0.94 | 1.61 |
| EPS (basic) | 4.39 | 4.8 | -0.77 |
| P/E Pre IPO | 87.77 | ||
| P/E Post IPO | 51.73 |
Financial Details (Restated) In Crores
| Period Ended | Sep-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 158 | 135 | 97 | 103 |
| Revenue | 118 | 195 | 164 | 138 |
| Profit After Tax | 23 | 25 | -4 | -19 |
| Net Worth | 67 | 45 | 19 | 23 |
| Total Borrowing | 41 | 42 | 31 | 30 |
About Company
Incorporated on July 8, 2004, Laxmi Dental has emerged as India’s only fully integrated dental products company, offering a diverse range of solutions tailored to meet both domestic and international needs. The company’s portfolio includes custom-made crowns and bridges, clear aligners, thermoforming sheets, aligner accessories, and specialized pediatric dental products. Over two decades, Laxmi Dental has built a strong presence in the global market, exporting to over 95 countries while also distributing across 300 Indian cities between fiscal years 2022 and 2024. Supported by six state-of-the-art manufacturing facilities spanning over 146,000 square feet in Maharashtra and Kerala, along with five additional facilities in major cities like Mumbai, Delhi, Bengaluru, and Ahmedabad, the company has become a trusted partner for over 20,000 dental clinics and professionals. Ranked as one of India’s top dental laboratories by revenue in FY 2023, Laxmi Dental continues to set benchmarks in innovation and quality, driven by a dedicated workforce of 2,372 employees as of Sept 2024.
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India's Only Integrated Dental Products Company: Positioned to capitalize on industry growth, combining a comprehensive product portfolio and end-to-end capabilities.
Market Leadership: Second-largest player in the domestic laboratory business and the leading export-focused laboratory, benefiting from the rising adoption of digital dentistry.
Diverse and Vertically Integrated Offerings: A strong portfolio of branded products, including crowns, bridges, clear aligners, and pediatric dental products, ensures a competitive edge across domestic and international markets.
Financial Instability: Reported losses, negative earnings per share, and asset write-offs over the past three fiscals raise concerns about financial performance and sustainability.
Auditor's Emphasis of Matter: Statutory auditors have highlighted specific issues in the financial statements for FY 2024 and 2023, indicating potential risks or uncertainties.
Dependency on Dental Network Expansion: The Company’s growth relies heavily on expanding its network and increasing wallet share, with failure to do so cost-effectively posing risks to operations and financial stability.
MUFG INTIME INDIA PRIVATE LIMTIED
(FORMERLY KNOWN AS LINK INTIME INDIA)
Email: laxmidental.ipo@linkintime.co.in
Website: www.linkintime.co.in