15 Jan 2025, 07:52:03 PM IST
Laxmi Dental IPO: Laxmi Dental Ltd’s initial public offering (IPO) concluded on an exceptionally strong note on its third and final day of bidding, achieving an overall subscription of 114.42 times. This underscores the immense investor interest in the OrbiMed-backed company.
Detailed Subscription Breakdown:
Here is a Laxmi Dental IPO breakdown –
1. Non-Institutional Investors (NIIs):
The NII category emerged as the strongest segment, with a staggering 147.95 times subscription. This reflects heightened participation from high-net-worth individuals and entities, showcasing their confidence in the company’s growth prospects.
2. Retail Individual Investors (RIIs):
The retail portion was subscribed 76.24 times, indicating significant enthusiasm from small investors seeking to capitalize on the growth of Laxmi Dental.
3. Qualified Institutional Buyers (QIBs):
The QIB category, which includes banks, mutual funds, and other institutional players, recorded a subscription of 110.38 times, further demonstrating robust institutional confidence.
Laxmi Dental IPO Key Highlights:
Total Size:
The IPO includes a fresh issue of equity shares worth up to ₹138 crore and an Offer for Sale (OFS) aggregating ₹560 crore, primarily by promoters Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, alongside other shareholders.
Price Band:
The shares were offered within a price range of ₹407-₹428 per share.
Anchor Investors:
Laxmi Dental secured over ₹314 crore from anchor investors prior to the IPO.
Utilization of Proceeds:
The funds raised through the fresh issue are earmarked for:
- Repayment of outstanding debt.
- Financing capital expenditure for business expansion.
- Investment in its subsidiary, Bizdent Devices Pvt Ltd.
- General corporate purposes.
Company Profile
Laxmi Dental Ltd is a fully integrated dental products company offering a diverse range of solutions, including:
- Custom-designed crowns and bridges.
- Branded dental products such as aligners and pediatric dental solutions.
The company’s comprehensive portfolio has positioned it as a leader in the dental healthcare sector, catering to both domestic and international markets.
Stay tuned for further updates as the IPO heads towards its listing phase, and investors eagerly await the allocation of shares!