Laxmi Dental Ltd

Laxmi Dental Ltd IPO

IPO Price Range: ₹407 - 428

Laxmi Dental Limited was founded in 2004 by Mr. Rajesh Khakhar as an end-to-end integrated dental company. The company started as a homegrown brand in Mumbai that offered dental clinicians affordable and quality dental products.

Over the past 20 years, the company has expanded globally, now operating in over 90 countries with more than 2,100 employees. Laxmi Dental’s product range includes custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental solutions, and more.

The IPO will open on 13th January, aiming to raise ₹698.06 crores. Of this, ₹138 crores will come from fresh shares, while ₹560.06 crores will be raised through an Offer for Sale.

Min Investment

₹14,124

IPO Size

₹698 Cr

IPO Status

Closed

Quantity in 1 Lot

33

Max Bid allowed

14

Listing Exchange

NSE

IPO Application Timeline of Laxmi Dental Ltd

passed
Open Date13 Jan 2025
passed
Close Date15 Jan 2025
passed
Allotment Date16 Jan 2025
passed
Listing Date20 Jan 2025

IPO subscribed over

🚀 114.4194x

This IPO has been subscribed by 76.235x in retail and 110.3799x in QIB.

Subscription Rate

Total Subscription114.4194x
Retail Individual Investors76.235x
Qualified Institutional Buyers110.3799x
Non Institutional Investors147.9546x

Key Statistics

Bid Opening DateBid Opening Date13 Jan 2025
Bid Closing DateBid Closing Date15 Jan 2025
Allotment DateAllotment Date16 Jan 2025
Issue SizeIssue Size₹698.06Cr
Quantity in 1 lotQuantity in 1 lot33

Laxmi Dental Ltd Brands, Products & Services

Taglus

A vertical of Laxmi Dental Clinic, Taglus is a global leader in the world of thermoforming. The brand manufactures aligners, retainer thermoforming sheets, thermoforming machines, 3D printing resins, etc.

Kids-e-Dental

Kids-e-Dental is their subpart in pediatric dentistry. This venture offers reliable and aesthetically pleasing dental prostheses for kids. Kids-e-Dental also has a presence in multiple countries.

Illusion Aligners

Illusion Aligners offers FDA 510K clear aligners that are built using advanced technology. This venture ensures that the dental fraternity has access to progressive orthodontic solutions.

Illusion Dental Labs

Illusion Dental Labs is a popular dental laboratory in India. They are known for their cutting-edge custom dental prostheses, Illusion Zirconia and premium crowns.

Laxmi Dental Exports

Laxmi Dental Exports is their export vertical. The dental company has been a leading exporter of dental products to dental clinics around the world since 2004.

ProductDental Products
Known ForFast delivery, diverse restaurant options
Top ProductsCrowns,Thermoforming Sheets,Aligners

Laxmi Dental Ltd Key Financials

*Value in ₹ crore
*Value in ₹ crore
*Value in ₹ crore
Details20222023
Total Revenue195.26163.84
Total Assets134.5296.54
Total Profit25.23-4.16

Objectives of Laxmi Dental Ltd IPO

1
Repayment of borrowings: Laxmi Dental Limited plans to utilise ₹22.9 crores from the net proceeds to repay or pre-pay borrowings from various banks and financial institutions. Their total borrowing as of December 2024 stood at ₹51.55 crores.
2
Repayment of subsidiary borrowings: The company further plans to allocate 4.6 crores in repayment or pre-payment of borrowings availed by their subsidiaries.
3
Purchase of new machinery: Laxmi Dental intends to allocate approximately ₹43.5 crores from the net proceeds in purchase of a new machinery. This machinery will further enhance their ability to compete in the market.
4
Investment in subsidiary: Around ₹25 crores is estimated to be invested in their subsidiary, Bizdent Devices Private Limited with the objective of purchasing a new machinery that will improve their efficiency and deliverables to customers.
5
General corporate purposes: The company further plans to employ the net proceeds for general corporate purposes like strategic initiatives, meeting business requirements like salaries, wages, administrative expenses etc.

Listed Competitors of Laxmi Dental Ltd

Poly Medicure

Poly Medicure

Poly Medicure started in 1997. It manufactures high-quality healthcare devices in different medical categories like cardiology, respiratory care, etc.

Unlisted Competitors of Laxmi Dental Ltd

Ampa Orthodontics (Toothsi)

Ampa Orthodontics (Toothsi)

Ampa Orthodontics, famously known by the brand name ‘toothsi’, was launched in 2017. They provide at-home dental care services and sell clear aligners.

Clove Dental

Clove Dental

Founded in 2011, Clove Dental is a dental hospital in India. They have a presence of over 500 clinics in 26+ cities in India. Clove implements cutting-edge technology for its treatments and has recruited over 1200 dentists.

Strengths and Risks of Laxmi Dental Ltd IPO

Strengths

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.

  • Experienced management team with significant industry experience.


Risks

Risks

  • 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 auditors report on its auditedfinancial 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.

  • The companys business is concentrated in certain jurisdictions, globally and domestically, and any loss of business in such regions could have an adverse effect on its business, results of operations and financial condition.

  • There are outstanding legal proceedings involving the Company, Subsidiaries, Promoters, and Directors which could have an adverse effect on its business, financial condition and results of operations.

  • The companys business depends heavily on its reputation and perception of the company brands. Any negative publicity or other harm to its brand or failures to maintain and enhance the company brand recognition and maintain such quality standards may materially and adversely affect its reputation, business, results of operations and financial condition.

  • All its major manufacturing facilities are situated in and around Mumbai and any disruptions in the region could have a material and adverse effect on its business, financial condition and results of operations.

  • Import and Exports are material to its business operation. Further, a failures to manage the company business in overseas markets or its inability to grow the company business in new geographic markets may affect its growth, which could have a material adverse effect on its business, operations, prospects or financial condition.

  • Its inability to effectively manage the company growth or to successfully implement its business plan and growth and expansion strategy could have an adverse effect on the company business, results of operations and financial condition.

  • There is an outstanding legal proceeding involving its Promoter, Chairperson and Whole-time Director.Any adverse decision in such proceeding could have an adverse effect on its business, financial condition and results of operations.

Promoters Holding

Investors Holdings %
Rajesh Vrajlal Khakhar18.34%
Sameer Kamlesh Merchant17.59%
Dharmesh Bhupendra Dattani0.26%
Jigna Rajesh Khakhar8.79%
Hasmukh Vrajlal Khakhar0.31%

Frequently Asked Questions of Laxmi Dental Ltd IPO

  • What is the size of the Laxmi Dental Ltd IPO?

    The size of the Laxmi Dental Ltd IPO is ₹698.06Cr .

  • What is 'pre-apply' for Laxmi Dental Ltd IPO?

    'Pre-apply' for Laxmi Dental Ltd IPO indicates your interest in the IPO before it opens for subscription. This ensures quick application when the IPO goes live.

  • When will my Laxmi Dental Ltd IPO order be placed?

    Your Laxmi Dental Ltd IPO order will be placed on 13 Jan 2025.

  • What are the open and close dates of the Laxmi Dental Ltd IPO?

    The open and close dates of the Laxmi Dental Ltd IPO are 13 Jan 2025 to 15 Jan 2025.

  • What is the lot size and minimum order quantity of the Laxmi Dental Ltd IPO?

    The lot size and minimum order quantity of the Laxmi Dental Ltd IPO are 33 and 33 respectively.

  • What would be the listing gains on the Laxmi Dental Ltd IPO?

    The potential listing gains on the Laxmi Dental Ltd IPO will depend on various market factors and cannot be predicted with certainty.

  • When will Laxmi Dental’s IPO be live?

    Laxmi Dental Limited’s IPO will open on 13th January and close on 15th January.

  • What is the turnover of Laxmi Dental?

    Laxmi Dental recorded a revenue of ₹1638.44 crores and ₹1952.64 crores in FY 23 and FY 24 respectively.

  • Is Laxmi Dental Limited profitable?

    The company recorded a profit of ₹227. 17 crores in FY24 however, they’ve also recorded a negative cash flow in FY 23 and FY 22.

  • Will Laxmi Dental’s shares be listed on NSE and BSE?

    Yes, Laxmi Dental’s shares will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

  • Who are Laxmi Dental’s key customers?

    Laxmi Dental serves dental clinicians, hospitals, and dental laboratories across over 90 countries, making it a global provider of dental products.

  • How has Laxmi Dental’s revenue grown over the years?

    The company’s revenue grew from ₹1,638.44 crores in FY 23 to ₹1,952.64 crores in FY 24, reflecting a year-on-year growth of approximately 19%.

  • How is India’s dental market growing?

    India’s dental care market is expected to grow at a rate of 12.6% to reach $7.8 billion in 2030.