Laxmi Dental Ltd Gears Up for IPO Launch

Laxmi Dental Ltd has filed preliminary papers with Sebi to launch an IPO. The offering includes a fresh issue worth Rs 150 crore and an OFS of 1.28 crore shares. A pre-IPO placement for Rs 30 crore is also considered. Funds will be used for investments, machinery, debt payments, and corporate purposes.

Laxmi Dental Ltd has taken a significant step by submitting preliminary papers to the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) to raise funds.

The IPO strategy includes a fresh issue of equity shares amounting to Rs 150 crore and an offer-for-sale (OFS) of 1.28 crore shares by promoters and other shareholders, as detailed in the draft red herring prospectus (DRHP) filed last week.

Part of the OFS will see shares sold by investor OrbiMed Asia II Mauritius Ltd. There is also a possibility of a Rs 30 crore pre-IPO placement, which would reduce the fresh issue size if completed. The funds from the fresh issue will be allocated for investments in subsidiary Bizdent Devices, acquisition of new machinery, debt repayment, and general corporate purposes.

(With inputs from agencies.)