Laxmi Dental IPO Day 1 Live Updates: Key Highlights, GMP, Subscription Status, and Insights
Established in July 2004, Laxmi Dental Limited is a comprehensive provider of dental products. The company specializes in custom-made crowns and bridges, branded dental solutions such as clear aligners and thermoforming sheets, a range of aligner accessories, and pediatric dental products. The Laxmi Dental IPO opened for subscription today, January 13, 2025, and will remain open until January 15, 2025.
Laxmi Dental IPO Day 1 Subscription Status
(January 13, 2024, 1:09:11 PM)
On the opening day of bidding, the Laxmi Dental IPO recorded a subscription level of 2.52 times the total shares available.
- The Non-Institutional Investors (NIIs) subscribed to 4.26 times their allocated quota,
- The Retail Investors segment showed a promising response, with subscriptions reaching 7.48 times their allocation.
- The Qualified Institutional Buyers (QIBs) segment, although participating, registered a subscription rate of 0.00 times until now.
Laxmi Dental GMP (Grep Market Premium)
According to Business Standard, the company's shares were trading at Rs 588 per share in the grey market, indicating a premium of Rs 160, or a 37.38% increase compared to the upper issue price of Rs 428.
Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.
Laxmi Dental IPO Details
Laxmi Dental IPO is a book-built issue worth ₹698.06 crores, consisting of a fresh issue of 0.32 crore shares valued at ₹138.00 crores and an offer for sale (OFS) of 1.31 crore shares worth ₹560.06 crores. The subscription period for the IPO runs from January 13, 2025, to January 15, 2025, with the allotment finalization date set for January 16, 2025, and the listing date on January 20, 2025. The price band for the IPO is ₹407 to ₹428 per share, with a minimum lot size of 33 shares per application.
Utilization of IPO Proceeds
The proceeds from the Fresh Issue will be utilized to support several strategic objectives, including the repayment or prepayment, in full or part, of certain outstanding borrowings by the Company and its subsidiaries. Additionally, the funds will be allocated toward capital expenditure requirements, such as the acquisition of new machinery for the Company and its subsidiary, Bizdent Devices Private Limited.
Laxmi Dental Limited Business Overview
Established in July 2004, Laxmi Dental Limited is a comprehensive provider of dental solutions. The company specializes in delivering high-quality products, including custom crowns and bridges, innovative clear aligners, advanced thermoforming sheets, aligner-related accessories, and specialized pediatric dental items.
Laxmi Dental Limited Financial Highlights:
- Revenue: Increased by 19.75% from ₹161.63 crore in FY23 to ₹193.56 crore in FY24.
- Profit After Tax (PAT): The company saw a remarkable turnaround, from ₹4.16 crore loss in FY23 to a profit of ₹25.23 crore in FY24, marking an improvement of 706.49%.
Key Ratios
|
Years |
FY24 |
|
ROE |
78.78% |
|
ROCE |
20.00% |
|
Debt to Equity |
0.94 |
|
PAT Margin |
13.03% |
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