Laxmi Dental IPO : Laxmi Dental has decided to reduce the size of its new issue from ₹150 crores to ₹138 crores. At the same time, the size of the Offer for Sale (OFS) has increased from 1.28 crore equity shares to about 1.31 crore shares. According to the company, the IPO will be open for subscription until January 15. Backed by OrbiMed, Laxmi Dental is bringing an IPO worth ₹698 crores. The company has set the price band for the shares between ₹407 and ₹428 each. Investors will need to bid for a minimum of 33 equity shares to apply for the IPO, which will be available for subscription from January 13 to January 17.
As per the Red Herring Prospectus (RHP) filed on January 7, the promoters of Laxmi Dental—Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, along with other shareholders, will also be selling some of their stakes. Under the OFS, investors like OrbiMed Asia II Mauritius Limited will sell shares of Laxmi Dental, a leading B2C dental aligner company. The promoter group holds 46.56% of Laxmi Dental, while public shareholders own 53.44%. According to the RHP, the funds raised from the fresh issue will be used to pay off debts and meet capital expenditure needs.
Laxmi Dental manufactures various products, including custom-made crowns and bridges, as well as branded dental products like aligner solutions. The issue size allocates 75% for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and the remaining 10% for retail investors.
