Laxmi India Finance IPO: Rs 75 Crore Raised from Anchor Investors Ahead of Listing
Laxmi India Finance Ltd, a non-deposit-taking non-banking finance company (NBFC), has raised over Rs 75 crore from anchor investors ahead of its initial public offering (IPO). The company will list its shares on the Bombay Stock Exchange (BSE) soon.
The anchor portion of the IPO saw participation from institutional investors, including Saint Capital Fund, BNP Paribas Financial Markets — ODI, Compact Structure Fund, Cognizant Capital Dynamic Opportunities Fund, India Max Investment Fund, Holani Venture Capital Fund-I, and Rajasthan Global Securities, according to a circular uploaded on the BSE website.
Laxmi India Finance has allotted 47.79 lakh equity shares to 11 funds at Rs 158 apiece, aggregating the transaction size to Rs 75.51 crore. The issue, with a price band of Rs 150-158 per share, will open for public subscription on July 29 and conclude on July 31.
The Jaipur-based company’s IPO is a combination of a fresh issue of 1.84 crore equity shares and an offer for sale of 56.38 lakh shares by promoters. The overall IPO size is pegged at Rs 254.26 crore at the upper end of the price band.
Proceeds from the fresh issue will be used to shore up the company’s capital base to meet future capital requirements towards onward lending and for general corporate purposes.
Laxmi India Finance offers a diverse product portfolio, including MSME (micro, small, and medium enterprises) loans, vehicle loans, construction loans, and other lending solutions to customers. As of March 2025, the company’s assets under management (AUM) increased to Rs 1,277 crore from Rs 687 crore as of March 2023, representing a compound annual growth rate of over 36%, primarily driven by an increase in volume of its loans and strengthened branch network.
The company’s operational network spans across 158 branches in rural, semi-urban, and urban areas in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh as of March 2025. Laxmi India Finance’s revenue from operations increased 42% to Rs 246 crore in fiscal 2025 against Rs 173 crore in the preceding fiscal year, while its profit after tax rose 60% to Rs 36 crore compared to Rs 22.5 crore during the period.
PL Capital Markets is the sole book-running lead manager to the public issue.
In conclusion, the IPO of Laxmi India Finance Ltd is a significant event in the Indian stock market, offering investors an opportunity to participate in the growth story of the NBFC player. With a strong track record of growth and a diversified product portfolio, the company is well-positioned to scale new heights in the coming years.