Laxmi Dental Sets IPO Price: Rs 698 Crore Offering Awaits the Market

Laxmi Dental, backed by OrbiMed, announces its initial public offering with a price band of Rs 407-428 per share. The offering is a mix of new shares and offers for sale, aiming to raise Rs 698 crore. The IPO will conclude on January 15, 2023.

Laxmi Dental, supported by OrbiMed, has set its initial public offering (IPO) price band between Rs 407 and Rs 428 per share, targeting a total of Rs 698 crore. The public subscription period opens on January 13 and closes on January 15.

The company has adjusted its offering, reducing the fresh issue size from Rs 150 crore to Rs 138 crore, while expanding the offer for sale (OFS) to 1.31 crore equity shares. Anchor investors are invited to bid on January 10.

Proceeds from the IPO will be allocated to debt repayment, capital expenditure, and investment in Bizdent Devices Pvt Ltd, among other corporate needs. Laxmi Dental's shares will be listed on BSE and NSE.

(With inputs from agencies.)