Public Market

IPO

Laxmi India Finance IPO subscribed 1.85 times

Business Standard  

The initial public offer of Laxmi India Finance was subscribed 1.85 times. The price band of the IPO is fixed at INR 150-158 per share. The IPO consists of a fresh issue of 1.045 crore equity shares to raise INR 156.80 crore at the lower band of INR 150 per share (face value INR 5 per share) and INR 165.17 crore at the upper band of INR 158 per share. The issue also has an offer for sale (OFS) of 56.39 lakh equity shares from promoter and promoter group to raise INR 89.09 crore at the upper price band. The promoter shareholding will decline to 60.5% post- IPO from 89.1% pre-IPO.The net proceeds from the fresh issue will be used for augmenting the capital base to meet future capital requirements.Laxmi India Finance, incorporated in 1996, is a non-deposit-taking NBFC focused on serving underserved customers in rural, semi-urban, and urban areas across five states. Its loan portfolio includes MSME, vehicle, and construction loans, with MSME loans contributing over 76% of its INR 1,277 crore AUM as of March 2025. The company operates 158 branches and serves over 35,000 customers.