Laxmi Dental IPO Subscribed 16.05 Times by the End of Day 2

Laxmi Dental IPO, a book-built issue worth Rs 698.06 crores, has been subscribed 16.05 times by the end of Day 2, receiving a strong response from non-institutional and retail investors. The issue, which opened on 13th January, includes a fresh issue of 0.32 crore shares amounting to Rs 138 crores and an offer for sale of 1.31 crore shares amounting to Rs 560.06 crores.

Laxmi Dental IPO Subscription Status - Day 2

The Laxmi Dental IPO witnessed a strong response across all investor categories on Day 2. The Retail category was subscribed 29.62x, NII category subscribed 37.43x showcasing significant interest from retail and Non Institutional buyers.

Laxmi Dental IPO Subscription Status - Day 1 

The IPO of Laxmi Dental Limited witnessed a strong demand on Day 1 and the issue was subscribed fully within the first few hours of launch. The Retail category was subscribed to 12.61 x, Non-Institutional Investors (NII) was subscribed to 10.89 x, and the Qualified Institutional Buyers (QIBs) category was subscribed to 0.13x showcasing significant interest in the issue especially in retail and NII segment. 

Company Overview of Laxmi Dental IPO 

Laxmi Dental is India’s only end-to-end integrated dental products company offering a comprehensive portfolio of dental products. Its offerings include custom-made crowns 247 and bridges, branded dental products such as clear aligners, thermoforming sheets, aligner-related products as a part of aligner solutions, and paediatric dental products.

The company has a brand presence of more than 20 years and they are amongst the top two largest dental laboratories in India and the largest export laboratory with increasing adoption of digital dentistry.

Laxmi Dental is a vertically integrated dental aligner company and the largest, most profitable homegrown B2B2C dental aligner provider in India. It operates in a highly fragmented market with more than 50,000 small laboratories.

The company manufactures dental products across its six manufacturing facilities spread across 146,800 square feet. 

Laxmi Dental has developed an extensive dental network, reaching over 20,000 dental clinics, dental companies, and dentists over the past three years. It exports to more than 95 countries and has a sales presence in over 300 cities across India

The Indian clear aligner market, which is relatively underpenetrated, is expected to grow from USD 133.6 million in 2023 to USD 569.0 million at a rate of 23.0% compared to the global market. Laxmi Dental is well-positioned to benefit from industry tailwinds.

Financial Overview

The company’s revenue from operations, EBITDA, and PAT have grown between FY 2022 and FY 2024. Key ratios have also shown significant improvement, indicating enhanced profitability and efficient capital utilization.

Laxmi Dental IPO Details

• IPO Date: January 13, 2025 to January 15, 2025

• Price Band: Rs 407 to Rs 428 per share

• Lot Size: 33 shares

• Total Issue Size: 1,63,09,766 shares

• (amounting to Rs 698.06 Cr)

• Fresh Issue: 32,24,299 shares

• (amounting to Rs 138 Cr)

• Offer For Sale: 1,30,85,467 shares of Rs 2

• (amounting to Rs 560.06 Cr)

• Allotment Date: January 16, 2025

• Listing Date:  January 20, 2025

How to Apply for Laxmi Dental IPO

Step 1) Visit the Rupeezy app or Rupezy DOCK.

Step 2) Navigate to the IPO section on the Home Page

Step 3) Here, you can view all the IPOs with details such as market lot, minimum bid quantity, price range, and analysis.

Step 4) You can read the Red Herring Prospectus for the issue details.

Step 5) Click on Apply.

Step 6) Enter the UPI ID for payment & place the bid.

Step 7) While placing the bid, enter the cutoff price or desired price in the range specified. Select quantity as per lot size. 

Step 8) Submit to complete the order.