Rajasthan-based non-banking finance company NBFC Laxmi India Finance will launch its initial share sale for public subscription in the coming week on July 29. This would be the ninth public issue from the mainboard segment in the current month.
The IPO will close on July 31, while the anchor book for institutional investors will be opened on July 28, a day before the issue opening for public.
The company will finalise IPO share allotment by August 1, and the trading in its equity shares will commence on the bourses effective August 5.
The Laxmi India Finance's 1.6 crore shares IPO comprises of fresh issue of 1.04 crore shares, and an offer-for-sale of 56.38 lakh shares by promoters.
The company will utilise the fresh issue proceeds for augmenting its capital base to meet future business requirements of towards onward lending, while the offer-for-sale money will go to promoters.
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Laxmi India Finance with operational network across 158 branches in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh provides MSME, vehicle, and construction loans. Its assets under management at the end of March 2025 was Rs 1,277 crore (growing from Rs 961.4 crore in FY24) with MSME and vehicle loan verticals contributing 76.34 percent and 16.12 percent, respectively.
The MSME lender that competes with several listed NBFCs like MAS Financial Services, Five Star Business Finance, SBFC Finance, Ugro Capital, CSL Finance, AKME Fintrade, and Moneyboxx Finance, has recorded profit at Rs 35.9 crore in the fiscal 2025, which grew by 58.7 percent compared to Rs 22.6 crore in the previous year. Net interest income during the same period soared 43.4 percent to Rs 116.7 crore, up from Rs 81.4 crore.
Asset quality weakened with the gross non-performing assets (NPA) increasing to 1.07 percent in FY25, from 0.73 percent in FY24, and net NPA rising to 0.48 percent from 0.33 percent in the same period.
The merchant banker handling the Laxmi India Finance IPO is PL Capital Markets.
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