OrbiMed-backed Laxmi Dental on Wednesday mentioned it has fastened the value band at ₹407-428 per share for ₹698 crore preliminary public supply which is able to hit the markets for public subscription on January 13.
The corporate has decreased the dimensions of its recent issuance from ₹150 crore to ₹138 crore and expanded OFS (supply on the market) dimension from 1.28 crore fairness shares to almost 1.31 crore shares.
The preliminary public choices (IPO) will conclude on January 15, whereas bidding for anchor traders is to open for a day January 10, the corporate mentioned in an announcement.
On the higher finish of the value band, the corporate is anticipating to fetch about ₹698 crore from the general public situation.
The IPO is a mix of recent situation of fairness shares as much as ₹138 crore and an OFS of as much as 1.31 crore fairness shares by promoters — Rajesh Vrajlal Khakhar and Sameer Kamlesh Service provider, and different shareholders, based on the Purple Herring Prospectus (RHP) filed on January 7.
Beneath the OFS, investor OrbiMed Asia II Mauritius Ltd can even offload shares of the main B2C dental aligner firm Laxmi Dental.
The promoters and promoter group owned a 46.56 per cent stake in Laxmi Dental, whereas public shareholders maintain a 53.44 per cent holding.
As per the RHP, the online proceeds from the recent situation shall be utilised for compensation of debt, funding of capital expenditure necessities, funding in its subsidiary Bizdent Units Pvt Ltd and basic company functions.
Laxmi Dental, an end-to-end built-in dental merchandise firm, has a complete portfolio that features custom-made crowns and bridges, branded dental merchandise equivalent to aligner options and paediatric dental merchandise.
Nuvama Wealth Administration, Motilal Oswal Funding Advisors, SBI Capital Markets are the e book operating lead managers, and MUFG Intime India Pvt Ltd (previously Hyperlink Intime India Pvt Ltd) because the registrar for the IPO.
The shares of the corporate shall be listed on the BSE and NSE.
