Laxmi Dental Ltd IPO
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Laxmi Dental Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 163.1 L | ₹ 130.85 L | ₹ 16.31 L | ₹ 240.91 L | BSE | ₹ 698.06 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 13 Jan, 25 | 15 Jan, 25 | 33 | ₹ 13,431 | Book Building | 20 Jan, 25 |
Laxmi Dental Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Healthcare |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 44.15x | 12232324 | 540081366 |
| NII | 147.95x | 2446465 | 361965549 |
| Retail | 76.23x | 1630977 | 124337400 |
| Employee | 0x | 0 | 0 |
| Total | 62.93x | 16309766 | 1026384315 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Laxmi Dental Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 193.56 | 161.63 | 136.84 |
| EBITDA | 30.53 | 20.22 | 11.60 |
| PAT | 22.71 | 1.42 | -4.44 |
| Total Assets | 83.58 | 56.67 | 54.31 |
| Share Capital | 11.93 | 11.93 | 11.93 |
| Total Borrowings | 60.34 | 33.82 | 32.87 |
| Operating Activities (Net Cash) | 31.83 | 10.82 | 2.39 |
| Investing Activities (Net Cash) | 14.03 | 14.03 | 16.62 |
| Financing Activities (Net Cash) | 60.34 | 33.82 | 32.87 |
| Net Cashflow | 0.49 | 1.20 | 1.10 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Laxmi Dental Ltd
Our Company was incorporated as `Laxmi Dental Export Private Limited' as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated July 8, 2004, issued by the Assistant Registrar of Companies, Maharashtra at Mumbai. Pursuant to a special resolution passed in the extra-ordinary general meeting of our Shareholders held on June 18, 2024, the name of our Company was changed to `Lxmi Dental Private Limited', and a fresh certificate of incorporation was issued to our Company by the RoC on July 24, 2024, and our Company was converted into a public limited company. Consequently, the name of our Company was further changed to 'Laxmi Dental Limited', and a fresh certificate of incorporation dated August 02, 2024, was issued by the RoC.
In terms of retail sales, (I) Indian custom-made crowns and bridges market is estimated to grow from $1.4-$3.1 billion between 2023-2030 at 11.8% compared to global market estimate from $71-$121.6 billion between 2023-2030 at 8.0%; (II) Indian clear aligner market is estimated to grow from $133.6-$569.0 million between 2023-2030 at 23.0% compared to global market estimate from $20.7-$54.9 billion between 2023-2030 at 15.0%. (III) Indian paediatric dental crown market is estimated to grow from $63.9-$164.8 million between 2023-2030 at 14.5% compared to global market estimate from $2.1-$3.5 billion between 2023-2030 at 7.5%.
Being India's only end-to-end integrated dental products company as at September 30, 2024, our comprehensive portfolio includes custom-made crowns and bridges, branded dental products such as aligner solutions including clear aligners, thermoforming sheets, aligner-related products, and paediatric dental products. Our presence spans 20+ years, and per the F&S Report, based on revenue for Fiscal 2024, we are amongst the top two largest Indian dental laboratories.
Peer Comparison:
- Poly Medicure Ltd
Laxmi Dental Ltd IPO Key Points
Strengths
- The only integrated dental products company in India, well-positioned to capture industry tailwinds.
- Second largest player in domestic laboratory business and largest export laboratory with increasing adoption of digital dentistry.
- Vertically integrated diverse branded product portfolio.
- Large Dental Network providing us with competitive advantage in the market.
- Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.
Risk
- The Company has reported consolidated loss after tax, negative earning per share for Fiscals 2023 and 2022, and written off Assets in last three Fiscals and its cannot assure that the company will not experience such events in the future.
- Its Statutory Auditors have included an emphasis of matter in their auditor's report on its audited financial statements as at and for the Financial Year ended 2024 and 2023.
- Its business success depends on expanding the company Dental Network, recommendations by its Dental Network and increasing the wallet share per dental clinic, dental company and dentist. Failures to achieve this in a cost-effective manner could have an adverse effect on its business, results of operations and financial condition.
Strategy
- Deepen our penetration amongst existing Dental Network while also expanding our Dental Network.
- Continue to scale up our branded product offerings.
- Undertake product enhancements of existing dental products and launch new dental products.
- Enhance manufacturing capacities with increasing focus on automation and adoption of new technologies.
- Continue to follow a multi-channel approach in marketing.
- The only integrated dental products company in India, well-positioned to capture industry tailwinds.
- Second largest player in domestic laboratory business and largest export laboratory with increasing adoption of digital dentistry.
- Vertically integrated diverse branded product portfolio.
- Large Dental Network providing us with competitive advantage in the market.
- Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.
How To Apply for Laxmi Dental Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
