Laxmi India Finance is gearing up to launch its initial public offering (IPO) on July 29, 2025, with the issue remaining open for subscription until July 31, 2025. The non-banking financial company (NBFC) aims to raise ₹254.26 crore through this IPO. The price band for the IPO has been set at ₹150 to ₹158 per share.
The IPO comprises a fresh issue of 1.05 crore shares, aggregating to ₹165.17 crore, and an offer for sale (OFS) of 0.56 crore shares, amounting to ₹89.09 crore. Under the OFS, several promoters including Deepak Baid, Aneesha Baid, Prem Devi Baid, Deepak Hitech Motors Pvt Ltd, Prem Dealers Pvt Ltd, Preeti Chopra, and Rashmi Giria will be offloading their stakes.
Investors can bid for a minimum lot size of 94 shares, requiring a minimum investment of ₹14,100 at the lower price band. For sNII, the lot size investment is 14 lots (1,316 shares), amounting to ₹2,07,928, and for bNII, it is 68 lots (6,392 shares), amounting to ₹10,09,936.
Half of the net offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs). A portion has also been reserved for employees.
The company intends to utilize the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements for onward lending and for general corporate purposes. Specifically, ₹177 crore is earmarked for augmenting the capital base.
The allocation to anchor investors is scheduled for July 28, 2025. The basis of allotment is expected to be finalized on August 1, 2025, with refunds initiated on August 4, 2025. Shares are expected to be credited to demat accounts on August 4, 2025, and the tentative listing date on both the BSE and NSE is set for August 5, 2025.
Laxmi India Finance Limited, established in 1996, is a non-deposit-taking NBFC focused on financial inclusion in underserved regions of India. As of March 2025, it has a network of 158 branches across Rajasthan, Gujarat, Madhya Pradesh, Uttar Pradesh and Chhattisgarh. The company offers a range of lending products, including MSME loans, vehicle loans, and construction loans. Over 80% of their MSME loans qualify as Priority Sector Lending.
As of March 31, 2025, Laxmi India Finance managed assets worth ₹1,277.01 crore, a significant increase from ₹686.76 crore in March 2023, reflecting a CAGR of 36.36%. The MSME and vehicle loan segments constitute a major portion of their AUM, accounting for 76.34% and 16.12% respectively. The company's revenue from operations increased by 41.92% to ₹245.71 crore for fiscal 2025, compared to ₹173.14 crore for fiscal 2024. Their profit after tax also saw a substantial increase of 60.25%, reaching ₹36.01 crore for fiscal 2025 from ₹22.47 crore for fiscal 2024. The company reported a net profit of ₹35.9 crore in FY25, a 58.7% increase, and net interest income of ₹116.7 crore, up by 43.4%.
PL Capital Markets Private Limited is the book-running lead manager for the IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.
