Laxmi Dental's Impressive Pre-IPO Funding Round

Laxmi Dental has successfully raised Rs 314 crore from anchor investors, marking a significant milestone ahead of its public share offering. This funding round saw participation from a host of prominent names including Aditya Birla Sun Life MF, ICICI Prudential MF, HDFC MF, and several other leading financial institutions and investment firms.

Details of the Public Subscription

The public subscription for Laxmi Dental's IPO is set to take place from January 13 to January 15, with a price band of Rs 407-428 per share. The IPO comprises a fresh equity share issue worth Rs 138 crore and an Offer for Sale (OFS) of 1.31 crore equity shares valued at Rs 560 crore by its promoters and other shareholders.

Utilization of Fresh Issue Proceeds

Proceeds from the fresh issue are earmarked for several strategic initiatives including debt repayment, capital expenditure funding, investment in subsidiary Bizdent Devices Pvt Ltd, and general corporate requirements. This strategic allocation underscores Laxmi Dental's commitment to strengthening its market position and expanding its operational capabilities.

About Laxmi Dental

Laxmi Dental operates as an integrated dental products enterprise, offering a wide range of custom-made crowns and bridges, branded dental products, aligner solutions, and paediatric dental items. The company plans to list its shares on both BSE and NSE, signaling a new chapter in its growth trajectory.