Laxmi India Finance Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹158
Per ShareLot Size
94 Shares
Minimum Investment
₹14,852
Issue Size
₹254.26 Cr
Face Value
₹5
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Laxmi India Finance Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
89.05%
Promoter Holding (Post-Issue)
60.25%
Issue Type
Book Building
ISIN
INE06WU01026
About the Company
The Company is a non-deposit taking non-banking financial company categorized as a `NBFC-Middle Layer' primarily operating in Micro, Small and Medium Enterprises ("MSME") financing vertical and vehicle financing vertical. It offers MSME loans, vehicle loans, construction loans and other lending products to cater to the financial needs of its customers. As on March 31, 2025, the company conducts its operations through 158 branches located in rural, semi-urban and urban areas in the states of Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh. As of March 31, 2025, its assets under management (AUM) stood at Rs.12,770.18 million with its MSME and vehicle loan verticals contributing 76.34% and 16.12%, respectively. Further, the customer base comprises 35,568 customers, including 18,596 active MSME customers and 12,423 active vehicle loan customers as on March 31, 2025.
Industry Overview
We operate in the credit market as a non-banking financial company (NBFC). The total systemic credit in India has witnessed a steady and broad-based expansion over recent years. From Rs 134.5 trillion in FY19, credit outstanding is expected to have crossed Rs 236 trillion as of FY25 By FY27, systemic credit is projected to reach around to ~Rs 300 trillion, indicating a healthy CAGR of 12%-13% between FY25 - FY27. The share of NBFCs in systemic credit has steadily increased from 17% in FY19 to 19% in FY24 and is projected to reach 20% by FY27. This trend reflects the growing contribution of NBFCs in the Indian credit landscape, particularly in addressing credit demand in under-served segments such as microfinance, small and medium enterprises and loans to priority sectors. Commercial credit to MSMEs in India grew at a steady pace of 11% CAGR in the 4-year period from Sep-19 to Sep-23. CareEdge Research expects NBFC MSME AUM to grow at a CAGR of approx. 20% to 22% and cross Rs. 6 trillion mark by end of FY27.
Company History
Laxmi India Finance Limited was incorporated under the provisions of the Companies Act, 1956 as `Laxmi India Finleasecap Private Limited' pursuant to a certificate of incorporation dated May 10, 1996, issued by Registrar of Companies, Delhi and Haryana. The Company has been granted a certificate of registration dated March 28, 2001 under its former name `Laxmi India Finleasecap Private Limited' by the RBI to carry on the business of a non-banking financial company without accepting public deposits. The Company changed its registered office to the state of West Bengal pursuant to the order dated July 19, 2011 passed by the Hon'ble Company Law Board, Bench at New Delhi. Further, the registered office of the Company was shifted from the state of West Bengal to the state of Rajasthan pursuant to the order dated December 01, 2020 passed by the Regional Director, Eastern Region. Subsequently, a certificate of registration dated April 25, 2018 was granted by the RBI pursuant to shifting of the registered office of the Company to the state of West Bengal from Delhi. Pursuant to shifting of registered office of the Company to the state of Rajasthan, the RBI had granted a certificate of registration dated March 15, 2021. Thereafter, the name of the Company was changed to Laxmi India Finance Private Limited to align it with our business activities pursuant to a resolution passed by its Shareholders dated January 25, 2023 and a fresh certificate of incorporation was issued by the RoC on March 10, 2023. Consequently, the RBI had granted a certificate of registration dated March 31, 2023, to the Company. The Company was converted into a public limited company and the name of our Company was changed to `Laxmi India Finance Limited' pursuant to a special resolution passed by its Shareholders dated August 9, 2024 and a fresh certificate of incorporation issued by the RoC on October 08, 2024. The RBI has granted a certificate of registration dated February 7, 2025 to the Company consequent to conversion of the Company from private limited company to a public limited company.
Products & Services
- The Company is a non-deposit taking non-banking financial company categorized as a `NBFC-Middle Layer' primarily operating in Micro, Small and Medium Enterprises ("MSME") financing vertical and vehicle financing vertical.
Growth Strategy
- Expansion of our geographical footprint to deepen our penetration in our target customer segment.
- Leveraging our existing branch and network of customers to drive growth in other verticals.
- Continuing to enhance information technology with a focus on customer service, operational efficiency and cost optimization.
- Diversify our borrowing profile and optimize our borrowing costs.
- Diversify our loan book.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 16,092,195 equity shares of face value of Rs. 5 each ("Equity Shares") of Laxmi India Finance Limited ("Company" ) for cash at a price of Rs. 158 per equity share (including a share premium of Rs. 153 per equity share) (the "Offer Price") aggregating to Rs. 254.26 crores ("the Offer") comprising a fresh issue of 10,453,575 equity shares of face value of Rs. 5 each aggregating to Rs. 165.17 crores by the company (the "Fresh Issue") and an offer for sale of 5,638,620 equity shares aggregating to Rs. 89.09 crores (the "Offer for Sale") by the selling shareholders, consisting of 3,084,952 equity shares aggregating to Rs. 48.74 crores by Deepak Baid, 913,070 equity shares of face value of Rs. 5 each aggregating to Rs. 14.43 crores by Prem Devi Baid, 1,261,902 equity shares of face value of Rs. 5 each aggregating to Rs. 19.94 crores by Aneesha Baid, 180,000 equity shares of face value of Rs. 5 each aggregating to Rs. 2.84 crores by Deepak Hitech Motors Private Limited, 90,000 equity shares of face value of Rs. 5 each aggregating to Rs. 1.42 crores by Prem Dealers Private Limited, 54,348 equity shares of face value of Rs. 5 each aggregating to Rs.0.86 crores by Preeti Chopra and 54,348 equity shares of face value of Rs. 5 each aggregating to Rs.0.86 crores by Rashmi Giria (collectively referred to as the "Selling Shareholders" and such equity shares offered by the selling shareholders, "Offered Shares"). The offer constitutes 30.79% of the post-offer paid-up equity share capital of the company. The offer included a reservation of 160,928 equity shares of face value of Rs. 5 each, aggregating to Rs.2.54 crores (constituting to 0.31% of the post-offer paid-up equity share capital), for subscription by eligible employees (as defined hereinafter) ("Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute 30.79% and 30.48%, respectively, of the post-offer paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Focus on MSME financing.
- Access to diversified sources of capital and effective cost of funds.
- Comprehensive credit assessment, underwriting and risk management framework.
- Deeper regional penetration in semi-urban and rural areas supported by a mix of direct and indirect sourcing channels.
- Our Hub and Branch model streamlines operations, reduces costs, and increases customer accessibility, driving business growth and market expansion.
- The company requires substantial capital for its business and any disruption in the company sources of funding or its inability to secure funding on favourable terms could adversely affect the company liquidity, business, cash flows, results of operations and financial condition.
- Its business is primarily focused on micro, small and medium enterprises (MSMEs) and any adverse development in this sector or in government policies affecting this sector could affect the company business, cash flows and results of operations.
- Its business is primarily focused on micro, small and medium enterprises (MSMEs) and any adverse development in this sector or in government policies affecting this sector could affect our business, cash flows and results of operations.
- As the NCDs of the Company are listed on BSE, the company is subject to certain obligations and reporting requirements under SEBI Listing Regulations. Any non-compliances/delay in complying with such obligations and reporting requirements may render it liable to prosecution and/or penalties.
- The company is subject to periodic inspection by the Reserve Bank of India. Non-compliance with the observations of the Reserve Bank of India could adversely affect its business, financial condition, results of operations and cash flows.