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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of borrowings
Prepayment or repayment, in full or in part, of certain outstanding borrowings of the company.
(₹ in Crore)
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Laxmi Dental Limited is an integrated dental products company in India, offering custom-made crowns and bridges, branded aligner solutions including clear aligners and thermoforming sheets, and pediatric dental products. The company has been operating in the dental products space for over two decades and, by revenue for fiscal 2024, ranks among the top two dental laboratories in India. The company exports to more than 90 countries and serves a network of over 20,000 dental clinics, practices and dentists across more than 300 Indian cities. It runs manufacturing operations spread across several units in Maharashtra and Kerala, supporting a vertically integrated model that spans product design, custom fabrication and distribution. Revenue has grown over the past few years as the company expanded its aligner and branded product lines alongside its core custom dental prosthetics business. Its promoter group, led by Rajesh Khakhar, Sameer Merchant and Dharmesh Dattani, retains a significant stake following the IPO, and the company's growth remains tied to the continued expansion of its dental network and export relationships.
Laxmi Dental raised over Rs 314 crore from anchor investors at the IPO cap price of Rs 428 per share. The anchor book included investors such as the Abu Dhabi Investment Authority, Goldman Sachs, Nomura Trust, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Invesco, Tata Mutual Fund and HSBC India.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Leading integrated dental products player
The company is among the largest dental laboratories in India, offering an end-to-end range of dental products under one roof.
Broad, branded aligner portfolio
Its clear aligner and thermoforming product lines diversify revenue beyond traditional custom crowns and bridges.
Extensive dental network reach
The company serves over 20,000 dental clinics and practices, giving it a wide and sticky distribution base.
Established export presence
Exports to more than 90 countries provide geographic diversification beyond the domestic Indian market.
Advanced manufacturing and quality standards
The company operates modern manufacturing facilities with strict compliance standards supporting product consistency.
Dependence on network expansion
Continued growth relies on expanding the dental clinic and practice network cost-effectively; a slowdown would directly affect revenue.
Geographic concentration
A significant share of manufacturing is concentrated in specific regions, exposing the business to local disruption risk.
Import and export dependence
Reliance on cross-border trade for materials and exports creates exposure to international trade and currency risk.
Laxmi Dental Limited
Office No. 103, Akruti Arcade, J.P. Road, Opposite A.H. Wadia High School, Near Azad Nagar Metro Station, Andheri (West), Mumbai 400058, Maharashtra, India
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Brand and reputation sensitivity
As a business built on trust with dental professionals, any reputational damage could disproportionately affect growth.
History of losses in earlier periods
The company has reported losses and asset write-offs in some prior periods, and consistent profitability is not guaranteed.