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. 

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The issue may list on Sep 27, 2021. The Book Running Lead Manager to the issue is Hem Securities Limited.

 

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As per the company, 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 says it is diversifying the operations with launch of new products. 

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," Atul Modi added.

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, a statement by Prevest DenPro said.