The initial public offering of dental products and solutions provider company Laxmi Dental Ltd., valued at Rs 698.06 crore, will go live on Monday, January 13.
IPO size and structure
The Laxmi Dental IPO is a Rs 698.06 crore book-built offering. A total of 1.31 crore shares, worth Rs 560.06 crores, are being offered for sale in addition to a new issue of 0.32 crore shares, worth Rs 138.00 crores.
10 per cent will go to retail investors, 15 per cent to non-institutional investors, and 75 per cent will go to qualified institutional buyers.
Price band and minimum bid
The price range for Laxmi Dental's IPO is Rs 407 to Rs 428 per share. Applications must have a minimum lot size of 33. Retail investors are required to invest a minimum of Rs 14,124.
For both sNII and bNII, the minimum lot size investment is 15 lots comprising of 495 shares amounting to Rs 2,11,860, and 71 lots comprising of 2,343 shares totalling to Rs 10,02,804 respectively.
New Mainboard IPO
— Tanmay (@Tanmay_31_) January 7, 2025
Laxmi Dental Limited
Date : 13-15 January
Price Band : 407-428
Issue Size : 698 Cr
Fresh - 138 Cr
OFS - 560 Cr
FV : 2
Retail : 10%
M.Cap : 2,352 Cr
PE FY24 : 87.8×
PE FY25 TTM Basis : 50.3×
FY23
Revenue : 162 Cr
Net Loss : (4.2 Cr)
FY24
Revenue : 194 Cr… pic.twitter.com/yRFLxfOYag
Subscription and listing dates
The subscription period for Laxmi Dental's initial public offering (IPO) begins on January 13, 2025, and ends on January 15, 2025. On Thursday, January 16, 2025, the allocation for the Laxmi Dental IPO is anticipated to be finaliSed.
The tentative listing date for the Laxmi Dental IPO is set for Monday, January 20, 2025, and it will be listed on the BSE and NSE.
Use of IPO proceedings
The proceeds of the new issuance will be used by Laxmi Dental for general business operations, debt repayment, and the purchase of new equipment.
Book running lead manager and registrar
The book running lead managers, SBI Capital Markets, Motilal Oswal Investment Advisors, and Nuvama Wealth Management, are in charge of the public issue.
Company financials
In FY24, the company reported their PAT (profit after tax) at Rs 25.23 crore; a whopping 706 per cent jump was reported compared to a net loss of 4.16 crore at the end of previous financial year.
On the revenue front, the company reported total revenue of Rs 195.26 crore in FY24 compared to Rs 163.84 crore at the end of previous fiscal year.