Laxmi Dental's IPO Gets SEBI Nod: A Boost for Dental Industry

Laxmi Dental Ltd has received SEBI approval to launch an IPO, involving a fresh equity issue of Rs 150 crore and an offer for sale of 1.28 crore shares. The funds will support investment in Bizdent Devices, machinery purchases, debt repayment, and corporate needs.

Laxmi Dental Ltd has received approval from the Securities and Exchange Board of India (SEBI) to initiate its initial public offering (IPO), as reported in a recent update by the markets regulator.

The IPO will comprise a fresh issue of equity shares valued at Rs 150 crore alongside an offer for sale (OFS) of 1.28 crore shares by the company's promoters and other shareholders, as outlined in the draft red herring prospectus (DRHP).

OrbiMed Asia II Mauritius Ltd is set to divest shares through the OFS, and Laxmi Dental might raise Rs 30 crore in a pre-IPO placement, potentially reducing the fresh issue size. The IPO proceeds are earmarked for investments in Bizdent Devices, machinery, debt repayment, and general corporate purposes.

(With inputs from agencies.)