Laxmi Dental Limited has informed the Exchange about General Updates
LAXMIDENTL · price
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Awaiting price reaction for this filing.
Laxmi Dental has submitted the ICRA-prepared Monitoring Agency Report on use of funds from its January 2025 IPO. The company raised Rs. 138 Crore as fresh issue (gross) of which Rs. 71.77 Crore has been deployed by end of Q1 FY26 and Rs. 66.23 Crore is still unutilized. ICRA confirmed there is no deviation from the stated purposes of the issue. Key items fully completed include repayment of company borrowings (Rs. 22.98 Crore) and investment in subsidiaries for debt repayment (Rs. 4.6 Crore), while general corporate purposes are nearly done at Rs. 31.94 Crore of the Rs. 32.08 Crore planned. However, capital expenditure on new machinery for the company is barely begun (Rs. 2.85 Crore used of Rs. 43.51 Crore), and the Rs. 25 Crore capex allocation for subsidiary Bizdent Devices has not yet started — both delayed by a few months. Unutilized money is parked in ICICI Bank fixed deposits earning between 6% and 7.3% interest.
The clean report with no deviation is a positive signal on corporate governance and disciplined fund use, supportive for shareholders. The slow pace of capex deployment — especially the untouched Bizdent investment — is worth watching as it may push out the company's planned capacity expansion timeline.