Get ready for an action-packed week in the IPO market! This week brings a mix of opportunities, with one mainboard IPO, Laxmi Dental, seeking ₹698.06 Cr , and four SME IPOs – Kabra Jewels Ltd, Rikhav Securities Ltd, Landmark Immigration Ltd, and EMA Partners Ltd – scheduled to hit the market.
This wave of IPOs offers investors a chance to explore a diverse range of sectors and get in on the ground floor of promising Indian businesses.
Before diving into the specifics, let’s break down these companies’ objectives, financial health, Grey Market Premium (GMP), and other key details. Here’s a closer look at what each of these IPOs has to offer!
Laxmi Dental Limited
Laxmi Dental’s IPO aims to raise ₹698.06 crores through a book-built issue. This includes a fresh issue of 0.32 crore shares worth ₹138.00 crores and an offer for sale of 1.31 crore shares aggregating to ₹560.06 crores.
Offer Price | ₹407 to ₹428 per share |
Face Value | ₹10 per share |
Opening Date | 13 January 2024 |
Closing Date | 15 January 2024 |
Total Issue Size (in Shares) | 1,63,09,766 |
Total Issue Size (in ₹) | ₹698.06 Cr |
Issue Type | Book Built Issue IPO |
Lot Size | 33 Shares |
Listing at | BSE, NSE |
The minimum application size is 33 shares, requiring a retail investment of ₹14,124. For small NII (sNII), the minimum is 15 lots (495 shares), amounting to ₹2,11,860, and for big NII (bNII), it is 71 lots (2,343 shares), requiring ₹10,02,804. The allotment is set for January 16, 2025, with listing on BSE and NSE scheduled for January 20, 2025.
GMP (Grey Market Premium)
The latest GMP for Laxmi Dental IPO is ₹161 (as of January 13, 2025). With a price band of ₹428, the estimated listing price is ₹589, reflecting a potential gain of 37.38% per share.
Objectives of the IPO
- Repayment/prepayment of certain outstanding borrowings by the company.
- Investment in subsidiaries for repayment/prepayment of borrowings.
- Capital expenditure for new machinery acquisition.
- Investment in Bizdent Devices Private Limited for machinery purchase.
- General corporate purposes.
Company Overview
Incorporated in 2004, Laxmi Dental Limited is an integrated dental products company. It’s product offerings include custom crowns, bridges, clear aligners, thermoforming sheets, and pediatric dental products. Operating under the brand Taglus, the company’s thermoforming sheets and 3D printing resins are industry benchmarks.
Laxmi Dental has six manufacturing facilities and five supporting locations in major cities. With a network spanning over 22,000 clinics across 320 cities in India and exports to more than 90 countries, the company holds a significant presence in domestic and global markets.
Financials
In FY24, Laxmi Dental’s assets grew by 40%, from ₹96.54 crores to ₹134.52 crores. Revenue increased from ₹163.84 crores to ₹195.26 crores. The company’s net worth and profit after tax (PAT) showed strong growth during this period. However, borrowings also increased, indicating rising liabilities.
SWOT Analysis of Laxmi Dental Limited
STRENGTHS | WEAKNESSES |
An integrated business model ensures efficiency and control over production and distribution. A strong network of over 22,000 clinics and dentists. Significant presence in international markets, exporting to 90+ countries. | Rising borrowings could affect financial stability. Dependence on a limited number of manufacturing facilities. |
OPPORTUNITIES | THREATS |
Growing demand for dental products globally. Potential for innovation in clear aligner technology. Expansion into emerging markets. | Intense competition in the dental industry. Regulatory changes in domestic and international markets. Currency fluctuations may impact export revenue. |
SME IPOs launching this week
Kabra Jewels Limited
Kabra Jewels IPO aims to raise ₹40.00 crores through a book-built issue of 31.25 lakh fresh shares. The minimum application size is 1,000 shares, requiring a retail investment of ₹1,28,000.
Offer Price | ₹121 to ₹128 per share |
Face Value | ₹10 per share |
Opening Date | 15 January 2024 |
Closing Date | 17 January 2024 |
Total Issue Size (in Shares) | 31,25,000 |
Total Issue Size (in ₹) | ₹40 Cr |
Issue Type | Book Built Issue IPO |
Lot Size | 1000 Shares |
Listing at | NSE, SME |
For High Net-worth Individuals (HNIs), the minimum investment is 2 lots (2,000 shares) amounting to ₹2,56,000. The allotment will be finalized on January 20, 2025, and the shares are expected to list on the NSE SME platform on January 22, 2025.
GMP (Grey Market Premium)
The last reported GMP for Kabra Jewels IPO is ₹0 (January 13, 2025), suggesting no premium or discount over the price band of ₹128. The estimated listing price is ₹128, with no anticipated gain or loss percentage per share at this stage.
Objectives of the IPO
- Repayment or partial repayment of certain borrowings availed by the company.
- To meet working capital requirements.
- General corporate purposes.
Company Overview
Incorporated in 2010, Kabra Jewels Limited is a retail jewelry company offering a wide range of gold, diamond, and silver ornaments. The company’s product portfolio spans wedding jewelry—its highest-selling category—and daily-wear ornaments. Kabra Jewels operates six showrooms in Ahmedabad under various brands, including KK Jewels Bridal, KK Jewels Diamond, and KK Jewels Gold. It also has three offices and one exhibition center, reinforcing its presence in the local market.
Financials
Kabra Jewels has shown consistent financial growth. Revenue as of November 2024 was ₹12,548.47 crore, up from ₹11,212.54 crore in FY22. Profit After Tax (PAT) for the latest period stood at ₹880.89 crore, almost double the ₹440.58 crore reported in FY23. The steady increase in revenue and PAT highlights the company’s growing market position and operational efficiency. Source: SEBI
SWOT Analysis of Kabra Jewels Limited
STRENGTHS | WEAKNESSES |
Diverse product portfolio catering to various customer needs. Strong presence in Ahmedabad with multiple specialized showrooms. Consistent revenue and profitability growth. | Limited geographical footprint confined to Ahmedabad. Dependence on the wedding segment as a primary revenue driver. |
OPPORTUNITIES | THREATS |
Expansion into new cities or regions to broaden market presence. Growing demand for affordable and daily-wear jewelry. Potential to leverage e-commerce for wider reach. | Established and unorganized jewelry retailers pose stiff competition. Fluctuations in gold and diamond prices impacting margins. Economic slowdowns or changes in consumer spending patterns. |
Rikhav Securities Limited
Rikhav Securities IPO aims to raise ₹88.82 crores through a book-built issue comprising a fresh issue of 83.28 lakh shares aggregating ₹71.62 crores and an offer for sale of 20.00 lakh shares aggregating ₹17.20 crores.
Offer Price | ₹82 to ₹86 per share |
Face Value | ₹5 per share |
Opening Date | 15 January 2024 |
Closing Date | 17 January 2024 |
Total Issue Size (in Shares) | 1,03,28,000 |
Total Issue Size (in ₹) | ₹71.62 Cr |
Issue Type | Book Built Issue IPO |
Lot Size | 1600 Shares |
Listing at | NSE, SME |
The minimum lot size for this IPO is 1,600 shares, requiring a retail investment of ₹1,37,600. For High Net-worth Individuals (HNIs), the minimum investment is 2 lots (3,200 shares) amounting to ₹2,75,200. The allotment is scheduled to be finalized on January 20, 2025, with a tentative listing date on the BSE SME platform set for January 22, 2025.
GMP (Grey Market Premium)
The last reported GMP for Rikhav Securities IPO is ₹0 (as of January 13, 2025). With the price band set at ₹86, the estimated listing price is ₹86, indicating no expected gain or loss per share based on current market trends.
Objectives of the IPO
- Funding the incremental working capital requirements.
- Financing capital expenditures for IT software, computers, and laptops.
- General corporate purposes.
Company Overview
Incorporated in 1995, Rikhav Securities Limited provides various financial services, including brokerage, investing, and banking solutions. Registered with SEBI as a stockbroker, the company is a BSE, NSE, and MCX member. Rikhav Securities offers equity broking, intra-day trading, futures, options, and services in derivative and commodity segments. The company acts as a Self-Clearing Member for trade settlements and provides IPO participation and demat account services. It also offers mutual fund advisory services catering to diverse client investment needs.
Financials
Rikhav Securities has demonstrated robust financial performance. As of September 30, 2024, the company’s total assets stood at ₹33,791.49 crore, a significant rise from ₹18,070.69 crore in FY22. Revenue reached ₹9,615.83 crore, up from ₹4,298.31 crore in FY22, while Profit After Tax (PAT) grew to ₹5,037.32 crore, nearly tripling from ₹1,762.47 crore during the same period, reflecting strong profitability and operational growth. Source: Rikhav
SWOT Analysis of Rikhav Securities Limited
STRENGTHS | WEAKNESSES |
Established presence in the financial services sector with SEBI registration. Diversified service offerings, including brokerage, IPO participation, and mutual fund advisory. Strong financial growth in recent years. | Heavy reliance on market conditions for revenue generation.Limited brand visibility compared to larger players in the financial sector.. |
OPPORTUNITIES | THREATS |
Expanding into underserved geographical areas. Increasing demand for investment services among retail investors. Leveraging technology to streamline operations and enhance customer experience. | Strong competition from both established and emerging financial service providers. Regulatory shifts influencing operations and profitability. Market fluctuations affecting revenue generation and client acquisition. |
Landmark Immigration Consultants Limited
Landmark Immigration Consultants Limited is launching an IPO with a total size of ₹40.32 crores, comprising 56.00 lakh shares. The issue is entirely a fresh issue with no offer for sale. The minimum lot size for retail investors is 1,600 shares, which translates to an investment of ₹1,15,200.
Offer Price | ₹70 to ₹72 per share |
Face Value | ₹10 per share |
Opening Date | 16 January 2024 |
Closing Date | 20 January 2024 |
Total Issue Size (in Shares) | 56,00,000 |
Total Issue Size (in ₹) | ₹40.32 Cr |
Issue Type | Book Built Issue IPO |
Lot Size | 1600 Shares |
Listing at | NSE, SME |
High Net-worth Individuals (HNIs) will need to apply for at least 2 lots, or 3,200 shares, amounting to ₹2,30,400. The IPO’s allotment process will be finalized on January 21, 2025, and it will be listed on the BSE SME on January 23, 2025.
Objectives of the IPO
The company plans to use the net proceeds from the IPO for the following purposes:
- Capital expenditure for establishing new branches.
- Advertisement expenses to increase brand awareness and visibility.
- Acquisitions to drive inorganic growth.
- General corporate purposes.
Company Overview
Founded in 2010, Landmark Immigration Consultants Limited specializes in Global Consultancy Services, particularly in global education and immigration consultancy. The company offers services for students seeking to study abroad and provides immigration consultancy for visas, tourism, business, and permanent residency, particularly in Canada.
Landmark operates through 9 fully equipped branches and partners with over 30 Canadian institutions. In addition, the company has entered into franchise agreements at locations in Jammu, Jind, and Karnal.
Financials
Landmark Immigration has shown strong financial growth over the past few years. As of March 31, 2024, the company reported assets of ₹4,431.51 lakhs, a rise from ₹3,625.3 lakhs in 2023 and ₹3,611.51 lakhs in 2022. Revenue surged to ₹3,707.03 lakhs in 2024, up from ₹2,162.62 lakhs in 2023 and ₹1,931.54 lakhs in 2022. Profit After Tax (PAT) also showed a significant increase, reaching ₹1,111.83 lakhs in 2024, compared to ₹443.48 lakhs in 2023 and ₹393.53 lakhs in 2022, reflecting strong financial growth.
Source: BSE
SWOT Analysis of Landmark Immigration Consultants Limited
STRENGTHS | WEAKNESSES |
Well-established brand in global education and immigration consultancy. A wide network with 9 branches and 30+ Canadian institution partnerships. Strong financial performance with consistent growth in revenue and profit. | Dependence on the Canadian immigration market could limit diversification. High reliance on physical branches, which may restrict scalability. |
OPPORTUNITIES | THREATS |
Expansion into new markets with the opening of new branches. Growth potential from inorganic initiatives through acquisitions. Increasing demand for education and immigration services globally. | High competition from local and global consultancy firms. Potential regulatory changes that may influence operations and profitability. The market volatility could affect client acquisition and revenue generation. |
EMA Partners Limited
EMA Partners India Limited is launching an IPO with a total issue size of ₹76.01 crores. The issue consists of a fresh issue of 53.34 lakh shares, amounting to ₹66.14 crores, and an offer for sale of 7.96 lakh shares, aggregating ₹9.87 crores.
Offer Price | ₹117 to ₹124 per share |
Face Value | ₹5 per share |
Opening Date | 17 January 2024 |
Closing Date | 21 January 2024 |
Total Issue Size (in Shares) | 61,30,000 |
Total Issue Size (in ₹) | ₹76.01 Cr |
Issue Type | Book Built Issue IPO |
Lot Size | 1000 Shares |
Listing at | NSE, SME |
Retail investors must invest a minimum of ₹1,24,000 for a lot size of 1,000 shares. The minimum investment for high-net-worth individuals (HNIs) is ₹2,48,000 for 2 lots or 2,000 shares. The IPO allotment will be finalized on January 22, 2025, and the shares are expected to list on the NSE SME on January 24, 2025.
Objectives of the IPO
The company intends to use the funds raised from the IPO for the following purposes:
- Strengthening the leadership team for both the company and its subsidiaries.
- Upgrading the existing IT infrastructure for both the company and its subsidiaries.
- Repaying or pre-paying borrowings taken for the purchase of office premises.
- General corporate purposes and potential inorganic acquisitions.
Company Overview
EMA Partners India Limited, established in 2003, is an executive search firm specializing in leadership hiring solutions. The company provides global recruitment services, focusing on C-suite and board-level hiring across various industries. EMA Partners India is headquartered in Mumbai, with a growing international presence in Singapore, Dubai, and James Douglas (Dubai). The company offers two key services: Executive Search and Leadership Advisory. Additionally, MyRCloud, an AI-driven platform, enhances hiring efficiency for entry and middle management positions.
Financials
The company’s financial performance demonstrates fluctuations over the past few periods. For the period ending July 31, 2024, revenue stood at ₹2,632.9 lakh, a decline from ₹6,883.45 lakh in March 2024 but higher than ₹5,106.16 lakh in March 2023 and ₹5,786.52 lakh in March 2022. Profit After Tax (PAT) for July 2024 was ₹437.22 lahks, significantly lower than ₹1,427.3 lahks in March 2024 but up from ₹307.07 lahks in March 2023 and ₹1,127.06 lahks in March 2022. Source: Indorient
SWOT Analysis of EMA Partners India Limited
STRENGTHS | WEAKNESSES |
Strong brand reputation in executive search and leadership advisory. Expanding global presence with offices in key international markets. Advanced AI platform, MyRCloud, streamlining recruitment processes. | Dependence on a few key markets for global revenue.Limited diversification in service offerings beyond executive search and leadership advisory. |
OPPORTUNITIES | THREATS |
Potential for expansion into untapped international markets. Growth prospects in mid-to-senior level recruitment through the James Douglas brand. Further enhancement of AI-powered recruitment tools to improve efficiency. | Fierce competition from other global executive search firms. Economic challenges that could reduce demand for recruitment services. Regulatory changes that could influence the recruitment industry. |
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OTHER IPO RESOURCES
IPO | Current IPO | Upcoming IPO | Listed IPO
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.