OrbiMed-backed Laxmi Dental has collected a little over ₹314 crore from anchor investors, ahead of its initial share-sale opening for public subscription.

The anchor round witnessed participation from domestic mutual funds, insurance companies and foreign entities, according to a circular uploaded on the BSE website on Friday.

Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla Sunlife Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments and Natixis Investment Managers, among others, have been allotted shares in the anchor round.

Going by the circular, Mumbai-based Laxmi Dental has allotted 73.39 lakh shares to 31 entities at ₹428 per equity share, aggregating the transaction size to ₹314.12 crore.

The issue with a price band of ₹407-428 per scrip will open for public subscription on January 13 and conclude on January 15.

The IPO is a combination of a fresh issue of equity shares for up to ₹138 crore and an OFS of up to 1.31 crore equity shares worth ₹560 crore by promoters — Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant, and other shareholders, according to the Red Herring Prospectus (RHP).

Under the OFS, investor OrbiMed Asia II Mauritius Ltd will also offload shares of the leading B2C dental aligner company Laxmi Dental. The promoters and promoter group owned a 46.56 per cent stake in the company, while public shareholders held a 53.44 per cent holding.

As per the RHP, the net proceeds from the fresh issue will be utilised for repayment of debt, funding of capital expenditure requirements, investment in its subsidiary Bizdent Devices Pvt Ltd and general corporate purposes.

Laxmi Dental, an end-to-end integrated dental products company, has a comprehensive portfolio that includes custom-made crowns and bridges, branded dental products like aligner solutions and paediatric dental products.

The company’s shares will be listed on the BSE and NSE.