Laxmi Dental Limited has informed the Exchange regarding Forfeiture/Cancellation of 32538 Options.
LAXMIDENTL · price
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On March 26, 2026, the Board of Laxmi Dental approved a Scheme of Amalgamation to merge its wholly-owned subsidiary Bizdent Devices Private Limited into itself under Sections 230 and 233 of the Companies Act, 2013. Bizdent manufactures aligners, retainers, sleep apnoea devices and sports guards in India, with a net worth of about Rs 53.6 crore and total income of Rs 31.1 crore for the nine months ended December 2025. Since Laxmi Dental holds 100% of Bizdent, no new shares will be issued and there will be no change in the shareholding pattern of the listed company. The Board also re-appointed M/s. Abhay Subhash & Associates as Tax Auditor for FY26, appointed M/s. Bathiya Advisors LLP as Internal Auditor for FY27, amended 17 internal policies, and changed designations of three executives — Mitesh Kariya (now COO – Illusion Dental), Arun Babu John (now CRO – Illusion Dental), and Manan Khakhar (now CEO – Vedia Solutions). Additionally, Mr. Mitesh Kariya surrendered 32,538 ESOPs, leaving 49,000 options outstanding.
This is a routine internal restructuring that consolidates a wholly-owned subsidiary into the parent with no dilution or change in shareholding, so existing shareholders are not affected. The amalgamation may streamline costs and operations over time, while the ESOP surrender slightly frees up the option pool for future grants.