NewsIPOLaxmi Dental Limited Reports No Material Deviation in IPO Proceeds Utilization for Quarter Ended September 2025Laxmi Dental Limited Reports No Material Deviation in IPO Proceeds Utilization for Quarter Ended September 2025
Laxmi Dental Limited's monitoring agency report for Q3 2025 shows Rs. 73.81 crore of Rs. 138.00 crore IPO proceeds utilized. Funds allocated for debt repayment, subsidiary investments, capital expenditure, and general corporate purposes. Debt repayment completed, other objectives partially fulfilled. Unutilized Rs. 64.19 crore invested in fixed deposits. ICRA Limited confirms no material deviation from stated objectives.
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Laxmi Dental Limited has submitted its monitoring agency report for the quarter ended September 30, 2025, detailing the utilization of proceeds from its Initial Public Offering (IPO) launched in January 2025. The report, prepared by ICRA Limited, confirms that there has been no material deviation from the stated objectives of the issue.
IPO Proceeds and Allocation
The company raised Rs. 138.00 crore through its IPO, with the funds allocated for various purposes:
| Purpose | Amount (Rs. crore) |
|---|---|
| Debt repayment | 22.98 |
| Subsidiary investments for debt repayment | 4.60 |
| Capital expenditure for new machinery | 43.51 |
| Subsidiary investment for machinery purchase | 25.00 |
| General corporate purposes | 32.08 |
| Total | 128.17 |
Utilization Status
As of September 30, 2025, Laxmi Dental Limited has utilized Rs. 73.81 crore of the IPO proceeds, with Rs. 64.19 crore remaining unutilized. The company has completed its debt repayment objectives on schedule, while capital expenditure and subsidiary investments are partially completed and expected to be deployed within the current fiscal year.
Investment of Unutilized Funds
The unutilized funds are primarily invested in fixed deposits with ICICI Bank, earning returns ranging between 2.75% to 7.30%.
Monitoring Agency Confirmation
ICRA Limited, serving as the monitoring agency, has confirmed that there has been no material deviation from the objects of the issue as stated in the offer document.
This report demonstrates Laxmi Dental Limited's commitment to transparent financial practices and adherence to its stated objectives for the IPO proceeds. The company's progress in utilizing the funds for debt repayment and ongoing investments in capital expenditure and subsidiaries indicates a strategic approach to strengthening its financial position and expanding its operational capabilities.
Historical Stock Returns for Laxmi Dental
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.12% | -4.07% | -3.76% | -40.50% | -52.85% | -52.85% |
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