**Laxmi Dental Secures Rs 314 Crore from Anchor Investors for IPO**
In a significant move, Laxmi Dental has successfully secured Rs 314 crore from anchor investors ahead of its much-anticipated initial public offering (IPO). This strategic fundraising effort has captured the attention of major names in the investment landscape, setting the stage for a promising market debut.
**Anchor Investors Show Strong Support**
The anchor round saw the participation of esteemed entities such as Aditya Birla Sun Life 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 Natixis Investment Managers. These key players demonstrated their confidence in Laxmi Dental’s potential by collectively subscribing to 73.39 lakh shares at Rs 428 per share, amounting to an impressive Rs 314.12 crore.
**Upcoming Public Subscription and Price Band**
The public subscription for Laxmi Dental’s IPO is scheduled to kick off from January 13 to January 15, offering shares within a price band of Rs 407-428 per share. Investors and stakeholders eagerly anticipate this opportunity to participate in the company’s growth trajectory and capitalize on its innovative dental solutions.
**Utilization of Funds and Ownership Structure**
As outlined in the Red Herring Prospectus (RHP), the IPO includes a fresh equity share issue of Rs 138 crore and an Offer for Sale (OFS) of 1.31 crore equity shares valued at Rs 560 crore by promoters Rajesh Vrajlal Khakhar, Sameer Kamlesh Merchant, and other shareholders. OrbiMed Asia II Mauritius Ltd is also set to partake in the OFS, further diversifying the investor base. The ownership structure indicates that promoters and the promoter group collectively hold 46.56 per cent, while public shareholders own 53.44 per cent.
**A Glimpse into Laxmi Dental’s Operations**
Laxmi Dental operates as a comprehensive dental products enterprise, specializing in custom-made crowns and bridges, branded dental solutions like aligners, and pediatric dental products. The company’s expansion plans include a dual listing on both BSE and NSE, signaling a bold step towards enhancing its market presence and visibility.
This groundbreaking development in the financial realm not only reinforces Laxmi Dental’s position as a trailblazer in the dental industry but also paves the way for a new era of growth and innovation in the market. As investors gear up for the IPO, the stage is set for a transformative journey that promises to reshape the landscape of dental healthcare in the country.