Wednesday, January 15, 2025
Wednesday, January 15, 2025

Before Lakshmi Dental’s IPO, anchor investors raised Rs. 314 crore collected

by PratapDarpan
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Ahead of its initial share-sale for public subscription, OrbiMed-backed Laxmi Dental has raised Rs. 314 crores have been collected. According to a circular uploaded on the BSE website on Friday, the anchor round saw participation from domestic mutual funds, insurance companies and foreign institutions.

Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla Sunlife Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments and Shares in Natixis Investment Managers, among others Anchor rounds have been allocated.

According to the circular, Mumbai-based Laxmi Dental paid 31 entities Rs. 428 per equity share allotted 73.39 lakh shares, with a total transaction size of Rs. 314.12 crores.

Per scrip Rs. The issue with a price band of 407-428 will open for public subscription on January 13 and close on January 15.

The IPO raised Rs. 138 crore fresh issue of equity shares and by the promoters — Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant and other shareholders Rs. 560 crore worth OFS is a combination of 1.31 crore equity shares. Red Herring Prospectus (RHP).

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    Under the OFS, investor OrbiMed Asia II Mauritius Limited will also divest shares in leading B2C dental aligner company Lakshmi Dental. The promoters and promoter group hold 46.56 per cent stake in the company, while public shareholders hold 53.44 per cent stake.

    According to RHP, the net proceeds from the fresh issue will be used to repay debt, fund capital expenditure requirements, invest in its subsidiary Bizdent Devices Pvt Ltd and for general corporate purposes.

    Lakshmi Dental, an end-to-end integrated dental products company, has a broad portfolio that includes custom-made crowns and bridges, branded dental products such as aligner solutions and pediatric dental products.

    Shares of the company will be listed on BSE and NSE.

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