Laxmi India Finance sets price band of Rs 150-158 a share for IPO

ipo

Rajasthan-based non-banking financial company (NBFC), Laxmi India Finance Ltd, has announced a price band of Rs 150-158 per share for its upcoming initial public offering (IPO), which opens for subscription on July 29 and closes on July 31. The anchor book will be available on July 28. The basis of allotment will be finalized on August 1, with credit of equity shares and refunds scheduled for August 4. The company is set to list on the stock exchanges on August 5.

The IPO comprises a total of 1.6 crore equity shares, including a fresh issue of 1.04 crore shares and an offer-for-sale of 56.38 lakh shares by existing promoters. At the upper end of the price band, the issue size is estimated to be around Rs 252 crore. Proceeds from the fresh issue will be utilized to strengthen the company’s capital base for future lending activities, while the offer-for-sale proceeds will be received by the promoters.

Laxmi India Finance operates through a network of 158 branches across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh, offering MSME, vehicle, and construction loans. As of March 2025, its assets under management stood at Rs 1,277 crore, up from Rs 961.4 crore in FY24. MSME loans accounted for 76.34 percent of the portfolio, followed by vehicle loans at 16.12 percent.

In FY25, the company reported a profit of Rs 35.9 crore, marking a robust growth of 58.7 percent from Rs 22.6 crore in the previous fiscal. Net interest income also saw a significant rise of 43.4 percent, reaching Rs 116.7 crore compared to Rs 81.4 crore in FY24. However, asset quality saw some deterioration, with gross non-performing assets (NPA) rising to 1.07 percent from 0.73 percent, and net NPA increasing to 0.48 percent from 0.33 percent.

Laxmi India Finance competes with other listed NBFCs such as MAS Financial Services, Five Star Business Finance, SBFC Finance, Ugro Capital, CSL Finance, AKME Fintrade, and Moneyboxx Finance. The IPO is being managed by PL Capital Markets.