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Laxmi India Finance Raises ₹254 Crore in Oversubscribed IPO
29 Jul
Summary
- Laxmi India Finance, a non-deposit taking NBFC, raised ₹254.26 crore through its IPO
- The company received strong backing from 11 institutional investors, including Sanshi Fund, who invested ₹20 crore
- Laxmi India Finance plans to use the IPO proceeds to augment its capital base and fund future lending activities
Laxmi India Finance, a non-deposit taking non-banking financial company (NBFC) focused on providing tailored financial solutions to underserved customer segments across India, successfully completed its initial public offering (IPO) on July 29-31. The company aimed to raise ₹254.26 crore through the IPO, which was oversubscribed.
Ahead of the IPO opening, Laxmi India Finance raised ₹75.51 crore from 11 institutional investors via an anchor book. Sanshi Fund was the biggest investor, pouring in ₹20 crore, while other institutional investors like Saint Capital Fund, BNP Paribas Financial Markets, and India Max Investment Fund also participated.
The company plans to utilize the net proceeds from the IPO towards augmenting its capital base to meet future lending requirements. Laxmi India Finance currently operates 158 branches in rural, semi-urban, and urban areas across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh, providing MSME, vehicle, and construction loans.
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Financially, Laxmi India Finance has consistently improved its balance sheet, with its net worth rising from ₹152 crore in FY23 to ₹257 crore in FY25, and revenues growing from ₹129.5 crore to ₹245.7 crore over the same period. The company's shares are expected to be listed on August 5, following the allotment of shares on August 1.
