Laxmi Dental | Business Upturn

Laxmi Dental shares surge 3% as Nuvama initiates ‘BUY’ rating with target price of Rs 570

Aman Shukla — Wed, 26 Mar 2025 03:53:27 +0000

Laxmi Dental Technologies’ shares jumped 3% after Nuvama Institutional Equities initiated coverage with a bullish ‘BUY’ rating and a target price of ₹570. The brokerage highlights Laxmi’s stronghold in India’s underpenetrated dental market and its multiple growth levers.

As the largest player in India’s dental care segment—boasting a footprint nearly 5x larger than its third-largest competitor—Laxmi is primed for expansion. Nuvama sees significant upside as the company strengthens its presence across dental labs, aligners, and pediatric solutions.

One key driver is Laxmi’s lab business, benefiting from the shift toward metal-free crowns and digital impressions. Its flagship Illusion Zirconia crowns and iScan Pro scanners have driven digital impressions to 62% of total volumes in H1FY25, up from 28% in FY22. This segment is projected to grow at a 20% CAGR, with margins expanding by 925 basis points to 22% by FY28.

The clear aligners segment is another major growth catalyst, expected to grow at a 39% CAGR through FY28E, driven by rising demand for aesthetic dentistry and a scalable B2B2C model. Additionally, Laxmi’s Kids-e-Dental—India’s first pediatric dental brand—is expanding globally, with revenues expected to more than double by FY28.

With a healthy post-IPO balance sheet and well-planned capex, Laxmi Dental is well-positioned for long-term growth. Nuvama values the stock at 40x FY27E EPS, a 25% discount to peers like Poly Medicure and China’s Angelalign.

Laxmi Dental shares opened at ₹422.00 on Wednesday, touching an intraday high of ₹435.00 while maintaining a low of ₹422.00. The stock remains significantly below its 52-week high of ₹584.00 but well above its 52-week low of ₹313.20.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Laxmi Dental shares debut with 26.64% premium at Rs 542 per share

Aditya Bhagchandani — Mon, 20 Jan 2025 04:29:27 +0000

Laxmi Dental Limited made an impressive market debut today, listing at ₹542, reflecting a 26.64% premium over its IPO price of ₹428. The listing brought significant gains for both retail and HNI investors:

Retail Listing Gain: ₹3,762 per lot (33 shares)
HNI Listing Gain: ₹56,430 per lot (495 shares)

IPO Subscription Details:

The IPO received an overwhelming response, with an overall subscription of 114.42 times. Segment-wise subscription highlights include:

Non-Institutional Investors (NII): 147.95 times
Qualified Institutional Buyers (QIB): 110.38 times
Retail Investors: 76.24 times

A total of 1,02,63,84,315 equity shares were bid for, against the offer size of 89,70,371 shares.

IPO Details:

Public Issue Size: ₹698.06 crore
- Fresh Issue: 32 lakh shares worth ₹138 crore
- Offer for Sale (OFS): 1.31 crore shares valued at ₹560.06 crore
Price Band: ₹407 to ₹428 per share
Lot Size:
- Retail: 33 shares
- HNI: 495 shares

About Laxmi Dental Limited:

Laxmi Dental is an integrated dental products company with a diversified portfolio, offering:

Custom crowns and bridges
Branded dental products, including clear aligners and thermoforming sheets
Aligner-related products as part of its aligner solutions
Pediatric dental products

Lead Managers and Registrar:

The IPO was managed by Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited, with Link Intime India Pvt. Ltd as the registrar.

Laxmi Dental shares to debut today: Check what the latest GMP indicates

Aditya Bhagchandani — Mon, 20 Jan 2025 02:58:18 +0000

Laxmi Dental Limited’s shares are set to make their debut on the stock exchanges today. According to the grey market premium (GMP), the shares were trading at a premium of ₹145, suggesting a potential listing gain of 34% over the issue price of ₹428.

IPO Subscription Details

The IPO received an overwhelming response, with an overall subscription of 114.42 times. Here’s the segment-wise subscription breakdown:

Non-Institutional Investors (NII): 147.95 times
Qualified Institutional Buyers (QIB): 110.38 times
Retail Investors: 76.24 times

A total of 1,02,63,84,315 equity shares were bid for, compared to the 89,70,371 shares on offer.

IPO Details

Public Issue Size: ₹698.06 crore
Fresh Issue: 32 lakh shares (₹138 crore)
Offer for Sale (OFS): 1.31 crore shares (₹560.06 crore)
Price Band: ₹407 to ₹428 per share
Lot Size: 33 shares

About Laxmi Dental Limited

Laxmi Dental is a leading integrated dental products company offering a wide range of items, including:

Custom crowns and bridges
Branded dental products such as clear aligners and thermoforming sheets
Aligner-related products as part of aligner solutions
Pediatric dental products

Lead Managers and Registrar

The IPO was managed by Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited, with Link Intime India Pvt. Ltd as the registrar.

While the GMP suggests a positive debut, it is important to note that grey market premiums are not definitive indicators of actual market performance. Investors should monitor the market closely for real-time developments.