Laxmi Dental IPO Details, Financials, Valuation & Peers
Explore Laxmi Dental IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Laxmi Dental Limited is India’s only end-to-end integrated dental products company, offering a comprehensive portfolio of dental solutions. With over 20 years of experience, the company stands among the top two largest Indian dental laboratories by revenue in Fiscal 2024. Laxmi Dental caters to both domestic and international markets, specializing in custom-made crowns and bridges, clear aligners, thermoforming sheets, aligner-related products, and pediatric dental solutions. The company operates six manufacturing facilities across 147,029.63 square feet and serves a vast network of over 22,000 dental clinics, companies, and dentists. The company’s focus on innovation and market-driven growth has made it a leader in dental prosthetics and aligner solutions in India and a prominent exporter of custom-made dental prostheses to the US and UK.
Key Points:
- Product Portfolio
- Dental Laboratory Offerings:
- Custom-made crowns and bridges, including premium zirconia and PFM crowns.
- Advanced digital dentistry solutions with intraoral scanners like iScanPro.
- Aligner Solutions:
- Pioneered the first Indian brand of clear aligners, "Illusion Aligners," with US FDA 510(k) clearance.
- Vertically integrated manufacturing of thermoforming sheets, machines, and biocompatible resins under the "Taglus" brand.
- Pediatric Dental Products:
- Exclusive offerings through Kids-E-Dental LLP, including pre-formed metal-free crowns, Silver Diamide Fluoride (SDF), and other dental solutions.
- First Indian manufacturer of US FDA-cleared SDF and globally distributed “Bioflx” crowns.
- Dental Laboratory Offerings:
- Market Leadership and Growth Potential
- Ranked as one of the top Indian dental labs and largest exporters of custom dental prostheses.
- Leading player in the Indian clear aligner and pediatric dental product markets, both projected to grow rapidly over the next decade.
- Positioned to capitalize on the shift toward organized dental product markets driven by regulatory changes and consumer demand for quality products.
- Six state-of-the-art manufacturing facilities complying with international quality standards.
- Integration of digital dentistry tools for enhanced precision and efficiency in dental restoration processes.
Objects of the Issue
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company
- Investment in certain Subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings.
- Funding the capital expenditure requirements for purchase of new machinery for the Company.
- Investment in the Subsidiary, Bizdent Devices Private Limited, for the capital expenditure requirements for the purchase of new machinery.
- General corporate purposes.
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 13 Jan - 15 Jan 2025 |
| IPO Price Band | ₹407 - ₹428 per share |
| Fresh Issue | ₹138 crore |
| Offer For Sale | 13,085,467 shares (₹560.06 crore) |
| Total IPO Size | ₹698.06 crore |
| Face Value | ₹2 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 13 Jan 2025 |
| IPO Closing Date | 15 Jan 2025 |
| Basis Of Allotment | 16 Jan 2025 |
| Refunds | 17 Jan 2025 |
| Demat Transfer | 17 Jan 2025 |
| IPO Listing Date | 20 Jan 2025 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| Total Income | 138.07 | 163.84 | 195.26 | 117.90 |
| Total Expenses | 143.40 | 167.76 | 186.66 | 103.41 |
| Net Profit/Loss | -18.68 | -4.16 | 25.23 | 22.74 |
| NPM (*) | -13.65 | -2.58 | 13.03 | 19.47 |
| Total Assets | 102.75 | 96.54 | 134.52 | 158.22 |
| Total Liabilities | 79.80 | 77.06 | 89.95 | 91.13 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| EPS | -3.56 | -0.77 | 4.80 | 4.39 |
| ROE (%) | -60.47 | -19.62 | 78.78 | 40.73 |
| ROCE (%) | -19.40 | -0.33 | 19.97 | 24.64 |
| D/E Ratio | 1.29 | 1.61 | 0.94 | 0.61 |
| Current Ratio | 1.01 | 0.93 | 0.96 | 1.45 |
| EBITDA MARGIN (%) | 3.85 | 5.92 | 16.88 | 23.96 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Laxmi Dental Limited | 193.56 | 89.17 | 4.80 | 78.78 | 8.63 |
| Poly Medicure Limited | 1,375.80 | 94.02 | 26.90 | 19.05 | 153.22 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not more than 75% |
| Non-Institutional Investor (NII/HNI) | Not less than 15% |
| Retail Individual Investor (RII) | Not less than 10% |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 110.38 |
| Non-Institutional Investor (NII/HNI) | 147.69 |
| Retail Individual Investor (RII) | 75.1 |
| Total | 114.14 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
- RAJESH VRAJLAL KHAKHAR
- SAMEER KAMLESH MERCHANT
- DHARMESH BHUPENDRA DATTANI
Lead Managers
- NUVAMA WEALTH MANAGEMENT LIMITED
- MOTILAL OSWAL INVESTMENT ADVISORS LIMITED
- SBI CAPITAL MARKETS LIMITED
Company Address
Laxmi Dental Limited
Office No. 103, Akruti Arcade, J. P. Road, Opposite A.H. Wadia High School, Andheri (West), Mumbai – 400 058, Maharashtra, India
Phone: +91 22 6143 7991
Email: co.sec@laxmidentallimited.com
Website: www.laxmidentallimited.com
FAQs
- What is the issue size of the Laxmi Dental IPO?The Laxmi Dental IPO has an issue size of ₹698.06 crore. This includes a fresh issue of ₹138 crore and an offer for sale (OFS) of 13,085,467 shares (₹560.06 crore).
- What is the price band of the Laxmi Dental IPO?The price band for the Laxmi Dental IPO is ₹407 - ₹428 per share.
- What are the bidding dates for the Laxmi Dental IPO?The Laxmi Dental IPO will open for bidding on 13 Jan 2025 and close on 15 Jan 2025.
- What is the allotment date for the Laxmi Dental IPO?The allotment date for the Laxmi Dental IPO is 16 Jan 2025.
- What is the minimum lot size and investment required for the Laxmi Dental IPO?The minimum lot size for the Laxmi Dental IPO is 33 shares and the minimum investment required is ₹14,124.
- What is the listing date for the Laxmi Dental IPO?The listing date for the Laxmi Dental IPO is 20 Jan 2025.
- What is the Laxmi Dental IPO grey market premium?The grey market premium (GMP) for the Laxmi Dental IPO is currently at ₹145, with an expected listing gain of approximately 33.88%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.