LAXMI DENTAL LIMITED INITIAL PUBLIC OFFERING TO OPEN ON JANUARY 13th, 2025

 Laxmi Dental Limited (LDL) will start its Initial Public Offer (IPO) for Equity Shares on Monday, January 13th, 2025. The Price Band is set between ₹407 and ₹428 per Equity Share. Bids can be made for at least 33 Equity Shares and in multiples of 33 thereafter.

The total offer size of equity shares, which have a face value of ₹2 each, includes a Fresh Issue of up to ₹1,380 million (₹138 Crore) and an Offer for Sale of up to 13,085,467 shares by Selling Shareholders. The Company plans to use the money raised from the Fresh Issue for several purposes, including repaying certain loans of about ₹229. 84 million, investing in subsidiaries to repay loans of around ₹46 million, purchasing new machinery for about ₹435. 07 million, and investing in a subsidiary for machinery costs of about ₹250. 04 million, along with some funds for general corporate purposes.

The Offer for Sale includes shares being sold by various stakeholders: up to 196,604 shares by Rajesh Vrajlal Khakhar, up to 434,598 shares by Sameer Kamlesh Merchant, and more from other selling shareholders including OrbiMed Asia II Mauritius Limited and several individuals.

The Anchor Investor Bid/Offer Period will open on January 10, 2025, while the main Bid/Offer Period will run from January 13 to January 15, 2025. The offering is documented in the Red Herring Prospectus filed with the Registrar of Companies in Gujarat on January 07, 2025. The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with both exchanges having given preliminary approval for the listing.

Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited are the book running lead managers for the Offer. Any terms used but not defined in this summary hold the same meaning as in the Red Herring Prospectus.

This Offer is being conducted through a Book Building Process under the Securities Contracts (Regulation) Rules and SEBI ICDR Regulations. A minimum of 75% of the Offer will be allocated to Qualified Institutional Buyers (QIBs), with up to 60% of this portion potentially allocated to Anchor Investors. At least one-third of the Anchor Investor portion will be reserved for domestic Mutual Funds, provided valid bids are received above the anchor price. If there is under-subscription, any remaining shares will be added back to the Net QIB Portion.

Additionally, 5% of the Net QIB Portion will be allocated to Mutual Funds, while the rest will be for all QIBs, excluding Anchor Investors. Not more than 15% of the Offer will be for Non-Institutional Investors, with further breakdowns based on application sizes. Up to 10% of the Offer is reserved for Retail Individual Bidders, again subject to valid bids.

All bidders, aside from Anchor Investors, must use the Application Supported by Blocked Amount (ASBA) process, supplying necessary ASBA account details and, where applicable, UPI ID. Anchor Investors will not use the ASBA method.

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