LD
Laxmi Dental Limited
India's largest manufacturer of dental prosthetics and dental laboratory products, serving over 20,000 dentists across 100+ countries.
₹407–₹428
Price Band
35 Shares
Lot Size
₹14980
Min Investment
1 lot @ ₹428
₹698 Cr
Issue Size
+₹74
GMP Today
Est. ₹502 (17.3%)
113.66×
Subscribed
Day 3
₹2
Face Value
52.3×
P/E (at upper)
Grey Market Premium (GMP)
Updated 15 Jan · 09:30 IST+₹74
Current GMP
Grey Market Premium
₹502
Est. Listing Price
Upper band + GMP
+17.29%
Expected Return
From upper band ₹428
GMP Trend
⚠️ Disclaimer: GMP is an unofficial grey market indicator and does not guarantee listing performance.
Subscription Status
Day 3 · 15 Jan 2025212.40×
QIB
Qualified Institutional
147.30×
NII / HNI
Non-Institutional
32.48×
Retail
Individual Investors
| Category | Shares Offered | Shares Bid | Subscription | Progress |
|---|---|---|---|---|
| QIB | 40,65,000 | 8,63,00,000 | 212.40× | |
| NII | 20,32,500 | 2,99,38,000 | 147.30× | |
| Retail | 47,42,500 | 15,39,20,000 | 32.48× | |
| Total | – | – | 113.66× |
About the Company
Laxmi Dental Limited is India’s largest manufacturer of dental prosthetics including crowns, bridges, dentures, and other dental laboratory products. Founded in 1984 and headquartered in Mumbai, the company operates through its own dental labs network and also white-labels for international dental brands. It serves 20,000+ dentists in India and exports to over 100 countries, making it a truly global dental manufacturing company.
Employees
~3,200
Founded
1984
Headquarters
Mumbai, India
Industry
Dental Products / Healthcare
Issue type
Fresh Issue + OFS
Promoter
Rajesh Vrajlal Khakhar & Family
✅ Strengths
- Market leader in dental prosthetics manufacturing in India
- Strong export revenue (50%+ of revenue from exports)
- Expanding dental services vertical through acquisitions
- Favorable demographics driving dental care demand in India
⚠️ Risks
- High P/E of 52× appears stretched vs healthcare peers
- Revenue concentration in dental labs; single-sector exposure
- Currency risk from high export dependence (~50% revenue)
- Working capital intensive business model
Financial Performance
FY22 · FY23 · FY24Revenue (₹ Cr)
PAT (₹ Cr)
FY22
FY23
FY24
| Metric | FY22 | FY23 | FY24 | Growth (YoY) |
|---|---|---|---|---|
| Revenue (₹ Cr) | 241 | 312 | 404 | Stable |
| EBITDA (₹ Cr) | 38 | 56 | 80 | Stable |
| PAT (₹ Cr) | 22 | 35 | 50 | Stable |
| EPS (₹) | 3.58 | 5.69 | 8.13 | ▲ 42.9% |
| EBITDA Margin | 15.8% | 17.9% | 19.8% | – |
| ROE | 14.2% | 17.8% | 21.4% | – |
Analyst Review
7.8
/ 10 overall
Subscribe ✅
Strong listing expected
Anand Rathi
IPO Research
Market leader with strong growth trajectory. High GMP signals robust demand. Premium valuation justified by growth.
Ventura Securities
Research Desk
Unique play on dental manufacturing with strong exports. P/E looks high but ROE improvement trend is impressive.
Allotment & Listing
✓
13 Jan
IPO Opens
Subscription window opens for all categories
✓
15 Jan
IPO Closes
Last day to apply – 5:00 PM deadline
✓
17 Jan
Allotment Date
Basis of allotment to be finalized
20 Jan
Refund Initiation
Unallotted funds credited to bank accounts
20 Jan
Credit to Demat
Shares credited to allottees' demat accounts
21 Jan
Listing Day 🎯
Expected listing on NSE & BSE at 10:00 AM
🎯 Listing Performance
₹428
Issue Price
₹503
Listing Price
0.0%
Listing Gain
₹495
Current Price