Last Updated:
Laxmi Dental IPO: The worth band of the Rs 698-crore IPO has been mounted at Rs 407-428 per share.
Laxmi Dental IPO.
Laxmi Dental IPO: The preliminary public providing (IPO) of OrbiMed-backed Laxmi Dental shall be opened on Monday, January 13. The worth band of the Rs 698-crore IPO has been mounted at Rs 407-428 per share. Laxmi Dental on Wednesday stated it has decreased the dimensions of its contemporary issuance from Rs 150 crore to Rs 138 crore and expanded OFS (provide on the market) measurement from 1.28 crore fairness shares to just about 1.31 crore shares.
The preliminary public choices (IPO) will conclude on January 15, whereas bidding for anchor traders is to open for a day January 10, the corporate stated in a press release.
At the higher finish of the worth band, the corporate is anticipating to fetch about Rs 698 crore from the general public problem.
The IPO is a mixture of contemporary problem of fairness shares as much as Rs 138 crore and an OFS of as much as 1.31 crore fairness shares by promoters — Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, and different shareholders, in keeping with the Red Herring Prospectus (RHP) filed on January 7.
Under the OFS, investor OrbiMed Asia II Mauritius Ltd can even offload shares of the main B2C dental aligner firm Laxmi Dental.
The promoters and promoter group owned a 46.56 per cent stake in Laxmi Dental, whereas public shareholders maintain a 53.44 per cent holding.
As per the RHP, the web proceeds from the contemporary problem shall be utilised for compensation of debt, funding of capital expenditure necessities, funding in its subsidiary Bizdent Devices Pvt Ltd and common company functions.
Laxmi Dental, an end-to-end built-in dental merchandise firm, has a complete portfolio that features custom-made crowns and bridges, branded dental merchandise reminiscent of aligner options and paediatric dental merchandise.
Nuvama Wealth Management, Motilal Oswal Investment Advisors, SBI Capital Markets are the e-book operating lead managers, and MUFG Intime India Pvt Ltd (previously Link Intime India Pvt Ltd) because the registrar for the IPO.
The shares of the corporate shall be listed on the BSE and NSE. PTI HG HVA
(With Inputs from PTI)
