Laxmi Dental sets IPO price band at ₹407-₹428 a share
The HinduLaxmi Dental Ltd. has announced to tap the capital market with an Initial Public Offering in the price band of ₹407 to ₹428 per equity share of face value of ₹2 each. It is a B2C dental aligner company offering dental products like metal-free crowns, bridges and dentures. The total offer size of equity shares comprises of fresh issue aggregating up to ₹138 crore and offer for sale up to 1.31 lakh shares by selling shareholders. The company proposes to utilise the net proceeds from the fresh issue towards funding, repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company, investment in certain subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings and funding the capital expenditure requirements for purchase of new machinery among others.
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