Laxmi Dental IPO to Open Next Week: Check Price, GMP, Issue Size, All You Need To Know – News18
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Laxmi Dental IPO: The price band of the Rs 698-crore IPO has been fixed at Rs 407-428 per share.
Laxmi Dental IPO.
Laxmi Dental IPO: The initial public offering (IPO) of OrbiMed-backed Laxmi Dental will be opened on Monday, January 13. The price band of the Rs 698-crore IPO has been fixed at Rs 407-428 per share. Laxmi Dental on Wednesday said it has decreased the size of its fresh issuance from Rs 150 crore to Rs 138 crore and expanded OFS (offer for sale) size from 1.28 crore equity shares to nearly 1.31 crore shares.
The initial public offerings (IPO) will conclude on January 15, while bidding for anchor investors is to open for a day January 10, the company said in a statement.
At the upper end of the price band, the company is expecting to fetch about Rs 698 crore from the public issue.
Currently, the GMP of the IPO is zero. However, it might increase as the IPO opening date approaches.
The IPO is a combination of fresh issue of equity shares up to Rs 138 crore and an OFS of up to 1.31 crore equity shares by promoters — Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, and other shareholders, according to the Red Herring Prospectus (RHP) filed on January 7.
Under the OFS, investor OrbiMed Asia II Mauritius Ltd will also offload shares of the leading B2C dental aligner company Laxmi Dental.
The promoters and promoter group owned a 46.56 per cent stake in Laxmi Dental, while public shareholders hold a 53.44 per cent holding.
As per the RHP, the net proceeds from the fresh issue will be utilised for repayment of debt, funding of capital expenditure requirements, investment in its subsidiary Bizdent Devices Pvt Ltd and general corporate purposes.
Laxmi Dental, an end-to-end integrated dental products company, has a comprehensive portfolio that includes custom-made crowns and bridges, branded dental products such as aligner solutions and paediatric dental products.
Nuvama Wealth Management, Motilal Oswal Investment Advisors, SBI Capital Markets are the book running lead managers, and MUFG Intime India Pvt Ltd (formerly Link Intime India Pvt Ltd) as the registrar for the IPO.
The shares of the company will be listed on the BSE and NSE. PTI HG HVA
(With Inputs from PTI)