Jammu (Jammu and Kashmir) [India], September 14 (ANI/PRNewswire): One of India's leading dental materials manufacturer, Prevest DenPro Limited's IPO opens on Wednesday, September 15, 2021 and closes on Friday, September 17, 2021 at a price band of Rs 82-84 with issue size of 3,168,000 equity shares of the face value of Rs 10 each.
The issue may list on Sep 27, 2021. The Book Running Lead Manager to the issue is Hem Securities Limited.
The net proceeds from the Issue will be utilised towards the purchase of machineries, equipments, utilities for the manufacturing of a proposed additional line of products, R&D unit, modernisation of existing manufacturing operations and general corporate purpose. The Company is diversifying its operations with launch of new products in segment of hygiene (sanitizers and disinfectants), oral hygiene products (mouth washes and mouth rinses), oral care products (medicated ointments, gels and creams for dental treatment) and biomaterials (i.e. bone augmentation materials).
Established in 1999, PrevestDenPro Limited manufactures over 100 dental products which finds application in endodontics, prosthodontics, orthodontics, periodontics, restorative dentistry, aesthetic dentistry and for fabrication of prosthesis in dental laboratories. Headquartered in Jammu, the Company has over 90+ international dealers spread across almost all the continents of the World, ranging from Europe, North America, South America, Africa and Asia. It has recently obtained USFDA approval for its five products and is all set to enter in the markets of USA and Canada by FY 22.
The Company has been able to give tough competition to the international peers owing to the high product quality and competitive pricing. The products are certified with ISO 13485:2016 and EU CE mark, which makes it eligible to market its products in EuropeanUnion and many other countries which have adopted EU medical devices directives.
Commenting on the Prevest DenPro IPO, Atul Modi, Chairman and Managing Director, said, "We are feeling extremely proud and excited from the core of our heart announcing the launch of our much-awaited issue. At this important moment, we are extremely thankful to our clients, customers and stakeholders for their overwhelming and throughout support."
"Prevest DenPro's products are sold in around 75 countries and in F.Y. 2020-21, almost 60% of the company's sales were from markets outside India. We are already creating a big buzz globally, and the same will reflect in our IPO as well. We are geared up for producing even more hygiene, oral care, and bio-materials products, and the quality will continue to remain our prime focus," Mr Atul Modi added.
Prevest DenPro's competitive strengths lie in wide sales and distribution network, comprehensive product portfolio of over 100 dental products, experienced management with strong domain knowledge, track record of robust financial performance, collaboration with reputed dental universities and institutions for technical knowledge & research.
According to the industry sources and reports, the Global Dental Pharmaceutical market was valued at USD 19.3 Billion in 2020. The market is expected to reach the valuation of USD 33.1 Billion by 2028. Factors driving the growth of the market include rising popularity and demand for cosmetic dentistry, rising incidence of dental diseases, increasing disposable income in developing countries and high prevalence of dental diseases.
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