The stock has fallen 24.32% in nine sessions, from its recent closing high of Rs 494.55 recorded on 04 February 2025.
In the last on month, the stock has dropped by 32.31% while the benchmark S&P BSE Sensex and the S&P BSE SmallCap index have lost 1.02% and 13.92%, respectively.
The scrip had debuted on the domestic bourses at a price of Rs 550.65 apiece, at a premium of 23.36% to its issue price of Rs 428 per share. It is currently down 29.1% from that level.
The initial public offer (IPO) of Laxmi Dental was subscribed 114.42 times.The issue opened for bidding on 13 January 2025 and it closed on 15 January 2025. The price band of the IPO was fixed between Rs 407 and 428 per share.
The IPO comprised a fresh issue of equity shares worth up to Rs 138 crore and an offer for sale of 1,30,85,467 equity shares aggregating up to Rs 560.06 crore by existing shareholders.
The objectives of the fresh issue include Rs 22.98 crore for the repayment or prepayment of certain outstanding borrowings, Rs 4.6 crore for investment in certain subsidiaries, Rs 43.5 crore for funding the capital expenditure requirements for the purchase of new machinery, Rs 25 crore for investment in the subsidiary, Bizdent Devices, for its capital expenditure requirements, and the remaining amount for general corporate purposes.
Ahead of the IPO, Laxmi Dental on 10 January 2025 had raised Rs 314.12 crore from anchor investors. The board allotted 73.39 lakh shares at Rs 428 each to 31 anchor investors.
Laxmi Dental is an integrated dental products company. It offers a comprehensive portfolio of dental products, including custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets, and aligner-related products as a part of aligner solutions, and paediatric dental products.
The firm reported a consolidated net profit of Rs 22.74 crore and sales of Rs 116.78 crore for the six months ended on 31 September 2024.