Laxmi India Finance IPO Day One: Price Band, GMP, Subscription Status & More
Laxmi India Finance Ltd’s initial public offering (IPO) of shares worth up to Rs 254 crore opened on July 29, with a price band of Rs 150-158 per share.
The IPO consists of a fresh issue of over one crore shares worth Rs 165 crore, along with an offer for sale of 0.56 crore shares by the promoters, amounting to Rs 89 crore. The tentative date for allotment of shares is July 31.
Laxmi India Finance will list on the BSE and NSE on August 4.
Deepak Baid, Prem Devi Baid, Aneesha Baid, Deepak Hitech Motors and Prem Dealers Pvt. are the promoters offloading shares through the OFS. Additionally, promoter group members Preeti Chopra and Rashmi Giria will be selling their stake in the IPO.
The company will not receive any proceeds from the offer for sale, as the funds will go directly to the selling shareholders.
Net proceeds from the fresh issue will be used for the augmentation of the capital base to meet future capital requirements for onward lending.
PL Capital Markets Pvt. is the book-running lead manager and Link Intime India Pvt. is the registrar of the issue.
As on March 31, 2025, Laxmi India Finance’s operational network spans across 158 branches in rural, semi-urban and urban areas in the states of Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh. Its product portfolio includes MSME loans, vehicle loans, construction loans and other lending products catering to the diverse financial needs of customers.
IPO Details
| Parameter | Value |
|---|---|
| Issue Opens | July 29 |
| Issue Closes | July 23 |
| Issue Price | Rs 150-158 |
| Total Offer Size | Rs 254 crore |
| Fresh Issue | 1.05 crore shares aggregating to Rs 165.17 crore |
| Offer for Sale | 0.56 crore shares aggregating to Rs 89 crore |
| Lot Size | Minimum 94 shares |
The Laxmi India Finance IPO has been subscribed 0.37 times or 37% as of 5:00 p.m. on Tuesday.
Qualified Institutions: 0.10 times or 10%
Non-Institutional Buyers: 0.19 times or 19%
Retail Investors: 0.60 times or 60%
Portion reserved for employees: 0.41 times or 41%
Grey Market Premium
The grey market premium for Laxmi India Finance IPO was Rs 8.25, as of 8:02 p.m. on July 29, according to InvestorGain. That implies a potential listing at around Rs 166 per share, marking a premium of 5.22%.
GMP or grey market price is not an official indicator and is based on market speculation.