Laxmi Dental Ltd, a dental products company, has filed initial documents with SEBI (Securities and Exchange Board of India) to raise funds through an IPO (Initial Public Offering). The IPO will include a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.28 crore shares by promoters and existing shareholders, as mentioned in the draft red herring prospectus (DRHP) submitted last week.
As part of the OFS, investor OrbiMed Asia II Mauritius Ltd will sell some of its shares in the IPO.
Additionally, Laxmi Dental might raise ₹30 crore through a pre-IPO placement. If this happens, the fresh issue size will be reduced.
The funds from the fresh issue will be used to invest in its subsidiary, Bizdent Devices, buy new machinery, repay debts, and for general corporate purposes.
Laxmi Dental provides a wide range of dental products, including custom-made crowns and bridges, aligner solutions, and products for children’s dental care.
Nuvama Wealth Management, Motilal Oswal Investment Advisors, and SBI Capital Markets are managing the IPO.
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