Laxmi Dental is acquiring up to 8,93,334 equity shares in its wholly-owned subsidiary, Bizdent Devices, through a rights issue valued at approximately ₹40.91 crores.
Laxmi Dental Limited has announced the acquisition of up to 8,93,334 equity shares in its wholly-owned subsidiary, Bizdent Devices Private Limited (BDPL). The acquisition, approved by the Board on March 21, 2025, involves a rights issue valued at approximately ₹40.91 crores. Each share is currently priced at ₹458. This total price consists of two components: a face value of ₹10 and a share premium of ₹448.
Details of the rights issue
The rights issue allows Laxmi Dental to subscribe to additional shares in BDPL, reinforcing its commitment to expanding its footprint in the dental devices sector. The total investment of ₹40.91 crores is part of the company's broader strategy to enhance its subsidiary's capabilities and market reach.
Regulatory compliance
The acquisition complies with Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) regulations, 2015. Laxmi Dental has ensured that all necessary disclosures and approvals are in place for this transaction.
Background on Laxmi Dental
Laxmi Dental is an integrated dental products company offering a comprehensive portfolio, including custom-made crowns and bridges, branded aligner solutions, and pediatric dental products. Laxmi Dental's shares debuted on the stock exchanges on January 20, 2025, listing at ₹542 per share on the National Stock Exchange (NSE).
Transaction classified as related-party
The transaction is categorised as a related-party transaction. Bizdent Devices is a wholly-owned subsidiary of Laxmi Dental. All applicable disclosure obligations have been followed.
Strategic rationale
The acquisition of additional shares in BDPL aligns with Laxmi Dental's strategy to strengthen its position in the dental devices market. By increasing its stake in its wholly-owned subsidiary, the company aims to improve its operational efficiencies and expand its product offerings.
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