Laxmi Dental came to market through an IPO that opened on 13 January 2025 and closed on 15 January 2025, and the shares listed on 20 January 2025 on BSE, NSE. The price band was ₹407 to ₹428 per share and one lot was 33 shares, so the minimum application was ₹14,124. The issue size was ₹698.06 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Link Intime India Private Ltd was the registrar to the issue, and Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited were the lead managers.
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Laxmi Dental is an India-based full-integrated dental products company providing a wide gamut of customized crowns, clear aligners, thermoforming sheets, and products for pediatric dentistry. Revenues in FY 2023 ranked the firm as one of the two biggest dental laboratories in India. In addition to Indian customers, exports are made to more than 95 countries worldwide, and 300 cities of India are covered for distribution.
Laxmi Dental has built a network of 20,000+ dental clinics, companies, and dentists with more than 20 years of market presence. Its six manufacturing units cover 146,804.42 sq. ft. and are located at Maharashtra and Kerala, while another five are set up in metros. As on March 31, 2024, 2,299 full-time professionals work for the company to enhance its pursuit of innovative and quality dentistry.
As described in the offer document.
| Metric | 30-Sep-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
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Laxmi Dental mobilises over Rs 314 crore via anchor book. Marquee names like Abu Dhabi Investment Authority, Nomura Trust, Goldman Sachs, Eastspring Investments, and Natixis International Funds invested in the company via anchor book.
Further ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Whiteoak Capital, Ashoka Whiteoak ICAV, Invesco, Mirae Mutual Fund, Quant MF, Tata Mutual Fund, DSP Mutual Fund, UTI Mutual Fund, HSBC India, Birla Sun Life Insurance and Max Life Insurance also participated in the anchor book and became shareholders of Laxmi Dental.
Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant, Dharmesh Bhupendra Dattani. Promoter holding 46.56% before the issue and 41.70% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Laxmi Dental IPO was a ₹698.06 crore book-built issue, comprising a fresh issue of ₹138 crore and an offer for sale of ₹560.06 crore. It was priced at ₹407–₹428 per share with a lot size of 33 shares (₹14,124). The IPO was open from January 13 to January 15, 2025. Shares listed on BSE and NSE on January 20, 2025 at ₹542, a 26.6% premium to the issue price of ₹428. Link Intime India Private Ltd is the registrar.
Nuvama Wealth Management Limited and 2 other book running lead managers manage the issue.
The price band of Laxmi Dental IPO is ₹407 to ₹428 per share.
The lot size of Laxmi Dental IPO is 33 shares.
The minimum investment for Laxmi Dental IPO is approximately ₹14,124 based on the upper price band.
The allotment date of Laxmi Dental IPO is Jan 16, 2025.
Laxmi Dental IPO's final recorded GMP before listing was ₹130 per share (a 30% premium over the ₹428 upper price band). The shares listed at ₹542. GMP is unofficial and does not forecast or guarantee the actual listing price.
Laxmi Dental IPO listed on Jan 20, 2025. It was issued at ₹542.0(NSE) and is currently around ₹175.69 as on 30-Oct-2026 3:30 PM, which is approximately -59.0% versus issue price. The 52-week high is ₹344.80.
You can check Laxmi Dental IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Laxmi Dental IPO allotment status on Rupix for quick and easy access.
₹407 to ₹428 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 33 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,124.
₹14,124, for one lot of 33 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 13 January 2025 and closed on 15 January 2025.
The basis of allotment was published on 16 January 2025 by Link Intime India Private Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 20 January 2025 on BSE, NSE.
The issue size was ₹698.06 crore. The fresh issue was 32,24,299 shares (aggregating up to ₹138 crore). The offer for sale was 1,30,85,467 shares (aggregating up to ₹560.06 crore).