Vasa Denticity
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 23 May 2023 – 25 May 2023
- Listing date
- 02 Jun 2023
- Face value
- ₹10 per share
- Issue price
- ₹128 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹54.07 Cr
- Market cap at offer price
- ₹205 Cr
- Promoter holding
- 95.00% → 69.62% pre-issue → post-issue
- ISIN
- INE0N5801013
- Registrar
- MAS Services Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Khasra No.714, Village, P.O.Chattarpur, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 12,00,000 | — | — |
| Market maker | 2,16,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹128
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,28,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,56,000 |
| S-HNI (max) | 7 | 7,000 | ₹8,96,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,24,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.43 | — |
| P/E (×) | 28.89 | — |
| Market cap | — | ₹205 Cr |
Key performance indicators
- Return on net worth
- 90.05%
- ROCE
- 62.30%
- Debt / equity
- 0.24
- PAT margin
- 7.03%
- EBITDA margin
- 7.64%
- NAV per share
- ₹4.92
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Vasa Denticity
Incorporated on August 29, 2016 as Vasa Denticity Private Limited and converted into a public limited company (renamed Vasa Denticity Limited) on March 15, 2023, the Delhi-headquartered company was founded by promoters Dr. Vikas Agarwal and Sandeep Aggarwal, who launched the www.dentalkart.com website in 2016 and a mobile application in 2018 for B2B sale of dental products to hospitals, clinics and medical establishments. Through this online channel it offers approximately 300 domestic and international brands and more than 10,000 dental SKUs spanning consumables (adhesives, filling and impression materials), equipment (chairs, x-ray machines, autoclaves) and instruments (forceps, probes, mirrors), alongside a portfolio of over 30 owned brands such as Waldent, Endoking, SuperEndo and UUortho that are manufactured by third-party vendors to the company's specifications and also sold on platforms like Amazon and Flipkart. In FY2021-22 it delivered over 2 lakh orders placed by over 61,000 customers across all 28 states and 6 Union Territories, fulfilling them from a 13,000 sq. ft. centralized warehouse in Gurugram (a second leased warehouse in Bengaluru is yet to commence operations) with deliveries largely handled by third-party logistics partners; it had 184 permanent full-time employees as of December 31, 2022. The company makes money from the margin on sales of these products — owned brands generated Rs. 3,542.94 lakhs, or 46.06%, of its FY2022 revenue from operations of Rs. 7,692.05 lakhs — and also provides after-sales service; revenue from operations grew from Rs. 3,041.80 lakhs in FY2020 to Rs. 4,007.08 lakhs in FY2021 and Rs. 7,692.05 lakhs in FY2022, with profit after tax of Rs. 540.98 lakhs in FY2022.
Company Analysis
from DRHPVasa Denticity Limited is an online marketer and distributor of a comprehensive portfolio of dental products — consumables, instruments, equipment and accessories — through its B2B e-commerce portal Dentalkart.com, spanning the dental care and e-commerce industries.
Incorporated on August 29, 2016 as Vasa Denticity Private Limited and converted into a public limited company (renamed Vasa Denticity Limited) on March 15, 2023, the Delhi-headquartered company was founded by promoters Dr. Vikas Agarwal and Sandeep Aggarwal, who launched the www.dentalkart.com website in 2016 and a mobile application in 2018 for B2B sale of dental products to hospitals, clinics and medical establishments. Through this online channel it offers approximately 300 domestic and international brands and more than 10,000 dental SKUs spanning consumables (adhesives, filling and impression materials), equipment (chairs, x-ray machines, autoclaves) and instruments (forceps, probes, mirrors), alongside a portfolio of over 30 owned brands such as Waldent, Endoking, SuperEndo and UUortho that are manufactured by third-party vendors to the company's specifications and also sold on platforms like Amazon and Flipkart. In FY2021-22 it delivered over 2 lakh orders placed by over 61,000 customers across all 28 states and 6 Union Territories, fulfilling them from a 13,000 sq. ft. centralized warehouse in Gurugram (a second leased warehouse in Bengaluru is yet to commence operations) with deliveries largely handled by third-party logistics partners; it had 184 permanent full-time employees as of December 31, 2022. The company makes money from the margin on sales of these products — owned brands generated Rs. 3,542.94 lakhs, or 46.06%, of its FY2022 revenue from operations of Rs. 7,692.05 lakhs — and also provides after-sales service; revenue from operations grew from Rs. 3,041.80 lakhs in FY2020 to Rs. 4,007.08 lakhs in FY2021 and Rs. 7,692.05 lakhs in FY2022, with profit after tax of Rs. 540.98 lakhs in FY2022.
Objects of the Issue
- To Meet Working Capital Requirements p.75
- Expenditure to enhance visibility and awareness of our brands Rs. 300 Lakhs p.76
- General Corporate Purpose p.76
- To meet Offer Expenses p.77
Issue Structure
- Total Issue
- up to 42,24,000 Equity Shares aggregating up to ₹ [●] lakhs
- Fresh Issue
- up to 31,74,000 Equity Shares aggregating up to ₹ [●] lakhs
- Offer for Sale
- up to 10,50,000 Equity Shares aggregating up to ₹ [●] lakhs
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue from the sale of dental products to dentists, hospitals, clinics and medical establishments, primarily through its B2B online channel — the Dentalkart.com website and mobile application — supplemented by direct/offline bulk orders. It sells both third-party domestic and international brands (sourced from over 250 overseas and domestic vendors) and its own portfolio of 30+ private-label brands that are manufactured by third parties to its specifications; owned brands alone contributed 46.06% of FY2022 revenue from operations. Orders are fulfilled from its centralized 13,000 sq. ft. warehouse in Gurugram (with a second warehouse in Bengaluru yet to commence operations) using third-party logistics providers, and the company also provides after-sales services for the products it sells.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Dr. Vikas Agarwal | Promoter | 54.15% | — |
| Sandeep Aggarwal | Promoter | 36.10% | — |
| Manish Kumar | Promoter | 2.85% | — |
| Nakul Varshney | Promoter | 1.90% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.