Laxmi India Finance IPO to opens on July 29; check price band, lot size & more

Laxmi India Finance, a non-banking financial company (NBFC) based in Rajasthan, is set to launch its initial public offering (IPO) with a price band of Rs 150-158 per share. The IPO will be open for subscription from July 29 to July 31, with the anchor book opening on July 28. The allotment of shares will be finalized on August 1, with refunds and credit of shares expected on August 4. The company is scheduled to list on the stock exchanges on August 5.

The IPO consists 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 highest price band, the total issue size is expected to be around Rs 252 crore. Proceeds from the fresh issue will enhance the company’s capital base for future lending activities, while funds from the offer-for-sale will go to the promoters.

Laxmi India Finance operates through 158 branches across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh, providing loans for micro, small and medium enterprises (MSMEs), vehicles, and construction. As of March 2025, the company reported assets under management of Rs 1,277 crore, up from Rs 961.4 crore in the previous financial year. MSME loans form the majority of the portfolio at 76.34%.

In FY25, Laxmi India Finance recorded a profit of Rs 35.9 crore, reflecting a 58.7% growth from Rs 22.6 crore the previous year. The net interest income also improved by 43.4%, reaching Rs 116.7 crore. However, the company saw a rise in non-performing assets, with gross NPAs increasing to 1.07% from 0.73%, and net NPAs rising to 0.48% from 0.33%.

The IPO is managed by PL Capital Markets, with MUFG Intime India (Link Intime) as the registrar. Laxmi India Finance faces competition from other listed NBFCs such as MAS Financial Services, Five Star Business Finance, SBFC Finance, Ugro Capital, CSL Finance, AKME Fintrade, and Moneyboxx Finance.

Key dates for the IPO include the opening and closing dates of July 29 and July 31, with the listing expected on August 5. The basis of allotment will be determined on August 1, with the initiation of refunds and credit of shares to demat accounts on August 4.