There were 06 main board IPOs in January 2025 of Indo Farm Equipment Limited, Standard Glass lining Technology Limited, Quadrant Future Tek Limited, Laxmi Dental Limited, Stallion Flurochemicals Limited and Denta Water and Infra Solutions Limited against 15 main board IPOs in December 2024. There were 15 SME IPOs in January 2025 as against 07 SME IPOs in December 2024.
Laxmi Dental Limited:
| About the Company | Incorporated in 2004, Laxmi Dental is an integrated dental products company offering a comprehensive portfolio of custom crowns and bridges, branded dental items like clear aligners and thermoforming sheets, aligner-related products as part of its aligner solutions, and pediatric dental products. It has six manufacturing facilities and over 22,000 clinics, multifaceted group with over 2,100 employees and a global presence in more than 95 countries. The firm reported a consolidated revenue of Rs 194 crore and net profit of Rs. 25 Crore for the year ended 31st March 2024. |
| Funds Utilization | The proceeds will be used for repayment or prepayment of borrowings by the company, funding the capital expenditure requirements for purchasing new machinery, investment in subsidiary Bizdent Devices Pvt Ltd and general corporate purposes. |
| Anchor Investors | Ahead of the IPO, the company raised Rs 314 crore from anchor investors and allocated 45% of the total issue size. The board allotted 73.39 lakh shares at Rs 428 each to 31 anchor investors. |
| IPO Performance | The Rs. 698 Crore IPO comprised of fresh issue of Rs. 138 Crore and an offer for sale for Rs. 560 Crore. The issue was oversubscribed over 114 times, with Non- Institutional investors subscribed the most at 148 times to the issue. IPO got listed at Rs 542 on NSE, i.e. a premium of 26% over the issue price of Rs 428. |
Funds Mobilization by Corporates (Rs. In Crore)
| Particulars | Nov-24 | Dec-24 |
| I. Equity Issues | 49,507 | 71,360 |
| a. IPOs (i+ii) | 35,849 | 27,031 |
| i. Main Board | 35,729 | 26,025 |
| ii. SME Platform | 120 | 1,006 |
| b. FPOs | 0 | 0 |
| c. Equity Rights Issues | 417 | 4,088 |
| d. QIPs/IPPs | 11,190 | 34,739 |
| e. Preferential Allotments | 2,051 | 5,502 |
| II. Debt Issues | 67,920 | 1,18,671 |
| a. Debt Public Issues | 380 | 722 |
| b. Private Placement of Debt | 67,540 | 1,17,949 |
| III. REITs/ InvITs | 0 | 5,215 |
| a. REITs | 0 | 3,500 |
| b. InvITs | 0 | 1,715 |
| Total Funds Mobilized (I+II+III) | 1,17,426 | 1,95,246 |
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
Disclaimer:
This material has been prepared by the personnel in Vora Corporate Finance which is Investment Banking arm of Vora Management Consultancy Private Limited and looks after Mergers & Acquisitions (M&A), Private Equity (PE), Fund Raising, Debt syndication and Valuations and is based out of Ahmedabad, Gujarat, India. Any views or opinions expressed herein are solely that of individual authors and may differ from view of Vora Management Consultancy Private Limited. This material is proprietary to Vora Management Consultancy Private Limited and is for your personal use only. Any distribution, copy, reprints or forward to others is strictly prohibited.
This material captures the information based on information available in the public domain, public announcements and sources believed to be reliable. Analysis contained herein is based on publicly available information and appropriate assumptions. This material is intended merely to highlight market developments and is not intended to be comprehensive and does not constitute strategic, investment, legal or tax advice. In no event Vora Management Consultancy Private Limited be liable for any use by any party or for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by you for evaluating any transaction.