Monitoring Agency Report for quarter ended March 31, 2026.
LAXMIDENTL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited, the monitoring agency, has submitted its Q4 FY2026 report on Laxmi Dental Limited's IPO proceeds utilization. The company raised ₹698.06 crore in its January 2025 IPO (net proceeds: ₹128.17 crore). As of March 31, 2026, ₹83.33 crore (61%) has been utilized, leaving ₹54.67 crore unutilized. The two completed objects (debt repayment for the company and subsidiaries) are fully deployed. Capital expenditure on new machinery for the company stands at ₹13.50 crore out of ₹43.51 crore budgeted, with ₹30.01 crore still pending. The subsidiary Bizdent Devices has utilized only ₹0.35 crore out of ₹25.00 crore allocated. The unutilized proceeds are parked in fixed deposits earning interest rates ranging from 6.00% to 7.05%. ICRA confirms no material deviations from the offer document objects.
No red flags for shareholders — proceeds are being deployed as disclosed in the prospectus with no material deviations, though capital expenditure deployment is running behind original schedules, with machinery purchases delayed by 9–12 months.