Latest News | Laxmi India Finance IPO Subscribed 1.85 Times

New Delhi, Jul 31 (PTI) The initial public offering of NBFC player Laxmi India Finance Ltd got subscribed 1.85 times on the closing day of the share sale on Thursday.

The initial share sale received bids for 2,09,59,744 shares against 1,13,12,816 shares on offer, according to NSE data.

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The quota for retail individual investors got subscribed 2.19 times while the portion for non-institutional investors received 1.83 times subscription. Qualified institutional buyers (QIBs) part got subscribed 1.30 times.

Laxmi India Finance Ltd on Monday raised over Rs 75 crore from anchor investors.

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The issue has a price band of Rs 150-158 per share.

The Jaipur-based company's IPO is a combination of fresh issue of 1.04 crore equity shares and an offer for sale of 56.38 lakh shares by promoters. Overall, the IPO size is pegged at Rs 254.26 crore at the upper end of the price band.

Proceeds from the fresh issue will be used to shore up its capital base to meet future capital requirements towards onward lending and for general corporate purposes.

Laxmi India Finance, a non-deposit-taking NBFC, offers a diverse product portfolio, including MSME (micro, small and medium enterprises) loans, vehicle loans, construction loans, and other lending solutions to customers.

Its operational network spans across 158 branches in rural, semi-urban, and urban areas in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh as of March 2025.

PL Capital Markets is the sole book running lead manager to the IPO.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)