Laxmi Dental IPO Listing: Lakshmi Dental shares had a successful entry in the domestic market today and after being listed at a premium of more than 23%, the shares rose further. Its IPO also got a good response from investors and overall bids were received more than 114 times. Shares have been issued under the IPO at a price of Rs 428.00. Today it has entered at Rs 528.00 on BSE and Rs 542.00 on NSE, which means IPO investors got more than 23 percent listing gain (Laxmi Dental Listing Gain). After listing the shares went up further. It jumped to Rs 538.20 (Laxmi Dental Share Price) on BSE, which means IPO investors are now making 25.75 percent profit.
Laxmi Dental IPO got strong response
Lakshmi Dental’s ₹698.06 crore IPO was open for subscription from January 13-15. This IPO received a tremendous response from investors and overall it was subscribed 114.14 times. In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 110.38 times, the share for Non-Institutional Investors (NII) was 147.69 times and the share for retail investors was 75.1 times. New shares worth Rs 138.00 crore have been issued under this IPO. Apart from this, 1,30,85,467 shares with face value of Rs 2 have been sold under the offer for sale window.
The shareholders who sold the shares have received the money from the offer for sale. The company will use the money raised through the new shares to repay debt, invest in some subsidiaries to repay debt, purchase new machinery, lend money to subsidiary Bizdent Devices for the purchase of new machinery, and for general corporate purposes.
About Laxmi Dental
Established in the year 2004, Lakshmi Dental manufactures custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental products, etc. It handles the entire process from design to manufacturing and distribution of dental products itself. According to the data till September 2024, it has six manufacturing facilities out of which three are in Mumbai’s Mira Road, two in Voiser and one in Kochi. Along with this, there are five supporting facilities in Mumbai, Delhi, Bengaluru and Ahmedabad. According to the data till September 2024, its dental network has more than 22 thousand clinics and dentists in 320 cities of the country. Its business is spread in more than 90 countries.
Talking about the financial health of the company, it has continuously strengthened. It had a net loss of Rs 18.68 crore in the financial year 2022, which reduced to Rs 4.16 crore in the next financial year 2023. After this, in the next financial year 2024, it reached a net profit of Rs 25.23 crore. During this period, the company’s revenue increased at a compound growth rate (CAGR) of more than 18 percent annually to Rs 195.26 crore. Talking about the current financial year 2024-25, in the first half April-September 2024, it has achieved a net profit of Rs 22.74 crore and a revenue of Rs 117.9 crore.
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