Laxmi Dental IPO

Laxmi Dental Limited, India’s only end-to-end integrated dental products company as of September 2024, offers a diverse portfolio, including custom-made crowns and bridges, clear aligners, and paediatric dental products. With over 20 years in the dental laboratory business, it serves more than 22,000 dental clinics and dentists domestically and internationally. Its six manufacturing facilities ensure quality compliance, including US FDA and ISO certifications. As a leader in clear aligners and paediatric dental products, the company drives innovation through advanced solutions like Illusion Aligners and Bioflx crowns

IPO Strengths

• Recognised as the only integrated dental products company in India, strategically positioned to leverage industry growth.

• Ranked as the second-largest player in the domestic laboratory business and the largest export laboratory, benefiting from the rising adoption of digital dentistry.

• Maintains a vertically integrated and diverse branded product portfolio.

• Operates a vast dental network, offering a significant competitive market advantage.

• Equipped with advanced technological capabilities and strict regulatory compliance to ensure high-quality standards.

• Guided by a seasoned management team with extensive industry expertise.

Key Financials (in million)

Particulars	30 Sept 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	1582.16	1345.23	965.38	1027.48
Revenue	1179.00	1952.64	1638.44	1380.70
Profit After Tax	181.97	179.41	(44.49)	(170.83)
Reserves and Surplus	613.72	421.57	174.84	207.57
Total Borrowings	409.06	420.25	314.39	296.34

Laxmi Dental Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	Fresh Issue: 32,24,299 shares (aggregating to ₹138 crore) Offer for Sale (OFS): 1,30,85,467 shares (aggregating to ₹560.06 crore)
IPO Dates	Mentioned below
Price Bands	₹407 to ₹428 per share
Lot Size	33 Shares
Face Value	₹2 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	5,17,37,850 shares
Shareholding post -issue	5,49,62,149 shares

Laxmi Dental Limited IPO Important Dates

IPO Activity	Date
IPO Open Date	13 January 2025
IPO Close Date	15 January 2025
Basis of Allotment Date	16 January 2025
Refunds Initiation	17 January 2025
Credit of Shares to Demat	17 January 2025
IPO Listing Date	20 January 2025

Laxmi Dental Limited IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	1	33	₹14,124
Retail (Max)	14	462	₹1,97,736
S-HNI (Min)	15	495	₹2,11,860
S-HNI (Max)	70	2,310	₹9,88,680
B-HNI (Min)	71	2,343	₹10,02,804

Laxmi Dental Limited IPO Lead Managers

Lead Managers

Nuvama Wealth Management Limited

Motilal Oswal Investment Advisors Limited

SBI Capital Markets Limited

Laxmi Dental Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	5.11
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	78.78%
Net Asset Value (NAV)	8.63
Return on Equity	78.78%
Return on Capital Employed (ROCE)	19.97%
EBITDA Margin	12.29%
PAT Margin	13.03%
Debt to Equity Ratio	0.94

Peer Group Comparison

Name of Company	Face Value (₹/Share)	Total Income (₹ Million)	EPS (₹) Basic	NAV (₹/Share)	P/E	RoNW (%)
Laxmi Dental Limited	2	1,952.64	4.80	8.63	NA	78.78
Poly Medicure	5	14,345.44	26.92	153.22	94.02	19.05

Objectives of the IPO Proceeds

• Repayment/prepayment of certain outstanding borrowings: ₹229.84 million.

• Investment in subsidiaries for repayment/prepayment of outstanding borrowings: ₹46.00 million.

• Funding capital expenditure for new machinery: ₹435.07 million.

• Investment in subsidiary, Bizdent Devices Private Limited for machinery-related capital expenditure: ₹250.04 million.

• Allocation for general corporate purposes.