Laxmi India Finance IPO day 1: GMP, subscription status, review, other details. Apply or not?
Ahead of the IPO launch, Laxmi India Finance Ltd raised over ₹ 75 crore from anchor investors on Monday by allotting 47.79 lakh equity shares at ₹ 158 each to 11 institutional funds.
Key participants in the anchor round included institutional investors such as Saint Capital Fund, BNP Paribas Financial Markets – ODI, Compact Structure Fund, Cognizant Capital Dynamic Opportunities Fund, India Max Investment Fund, Holani Venture Capital Fund-I, and Rajasthan Global Securities.
The bidding of Laxmi India Finance IPO will begin at 10 am on Tuesday, July 29.
The shares of Laxmi India Finance is currently trading at a premium of ₹ 9 in the grey market, as per investorgain. This means that the GMP of Laxmi India Finance IPO is +9.
The current GMP indicates that the estimated listing price of Laxmi India Finance IPO is likely to be ₹ 167, which is 5.70 per cent higher than the IPO price of ₹ 158.
The GMP of Laxmi India Finance IPO has witnessed a significant fall ahead of the opening of issue. The GMP has descended from ₹ 18 to ₹ 9, according to investorgain.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Laxmi India Finance IPO includes a fresh issue of 1.05 crore equity shares valued at ₹ 165.17 crores, along with an offer for sale of 0.56 crore shares amounting to ₹ 89.09 crores.
The funds raised from the fresh issue will be utilised to strengthen the company's capital base, support future lending activities, and meet general corporate needs.
The share allotment is expected to be finalized on Friday, August 1, 2025, and the IPO is likely to be listed on both the BSE and NSE, with a tentative listing date set for Tuesday, August 5, 2025.
Retail investors can apply for a minimum lot size of 94 shares, requiring a minimum investment of ₹ 14,100.
PL Capital Markets Private Limited is serving as the book-running lead manager for the IPO, while MUFG Intime India Private Limited (Link Intime) has been appointed as the registrar.
Brokerage firm Canara Bank Securities has given 'subscribe for long-term' rating Laxmi India Finance IPO. ' The company has had robust financial performance for the past three years, where revenue has grown at a CAGR of 38% from 129 Cr to 245 Cr, whereas PAT has grown at a CAGR of 50% from 16 Cr to 36 Cr. The issue is overpriced at 2.57X PB, whereas the listed peers on average are available at 2.02X PB. The company is well positioned to take ad- vantage of the MSME surge in India, as of now LIF is present only in 5 states with major presence (80%) in Rajasthan. This leaves plenty of room for LIF to enter new states and become more dominant in the existing states,' it said.
Meanwhile, brokerage firm Swastika said, while giving 'subscribe' rating, that investment in this company may be best suited for High risk investors with long-term vision.
' Laxmi India Finance's primary business revolves around lending, providing structured financial solutions to segments that are typically overlooked by mainstream banks. It has demonstrated increases in both revenue and profit across the periods reported. The business operates within an intensely competitive marketplace. Current financial indicators suggest that the offering is priced on the fairly side,' it added.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
HCLTech CEO Vijayakumar earns $10.85 mn in FY25; tops TCS, Infosys heads
HCLTech CEO C Vijayakumar earned $10.85 million (about ₹94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to $18.6 million (about ₹154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹26.52 crore, while Infosys CEO Salil Parekh earned Rs 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia ($6.2 million or about Rs 53.64 crore) and Tech Mahindra CEO Mohit Joshi (₹53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of $1.96 million and a performance-linked bonus of $1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at $6.96 million. An additional $0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹1,15,000 crore on March 31, 2016, to ₹4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at $18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹1,452.95 apiece on the BSE on Friday.
Mint
6 hours ago
- Mint
HCLTech CEO C Vijayakumar earns $10.85 mn in FY25; more than TCS, Infosys heads
New Delhi, Aug 2 (PTI) HCLTech CEO C Vijayakumar earned USD 10.85 million (about ₹ 94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to USD 18.6 million (about ₹ 154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹ 26.52 crore, while Infosys CEO Salil Parekh earned ₹ 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia (USD 6.2 million or about ₹ 53.64 crore) and Tech Mahindra CEO Mohit Joshi ( ₹ 53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of USD 1.96 million and a performance-linked bonus of USD 1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at USD 6.96 million. An additional USD 0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹ 1,15,000 crore on March 31, 2016, to ₹ 4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at USD 18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹ 3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹ 1,452.95 apiece on the BSE on Friday.
New Indian Express
10 hours ago
- New Indian Express
ICL Fincorp's new NCD issue opens on July 31, 2025, offering effective yield up to 12.62%
ICL Fincorp is proud to announce the launch of its latest public issue of Secured Redeemable Non-Convertible Debentures (NCDs), opening on 31st July 2025. With an effective yield of up to 12.62%, this offering presents an attractive and secure investment opportunity for those seeking flexible tenures. Following the remarkable response to our previous NCD issues, which were oversubscribed, we are truly honoured by the trust and confidence placed in us by our valued investors. This continued support inspires us to deliver even more robust financial solutions tailored to the evolving needs of our customers. The NCD issue will remain open until 13th August 2025 and is rated CRISIL BBB- /STABLE. Each NCD carries a face value of ₹1,000,and the issue offers 10 schemes with ten options (10 ISINs), with interest rates ranging from10.50% to 12.00%. The minimum application amount is ₹10,000, making it accessible to a broad spectrum of investors. Proceeds from this issue will be strategically deployed to support ICL Fincorp's growth initiatives and further enhance the quality of services offered to our customers and stakeholders across India. This step reaffirms our commitment to delivering reliable, innovative and customer-centric financial solutions. With a legacy of 34 years, ICL Fincorp continues to serve as a trusted financial partner under the visionary leadership of CMD, Adv. K.G. Anilkumar. Our growing presence spans 9 states – Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Odisha, Gujarat, and West Bengal – as we move steadily towards establishing a pan-India footprint. The acquisition of Salem Erode Investments, a BSE-listed NBFC with a 93-year history in Tamil Nadu, has further reinforced our position in the financial sector. ICL Fincorp offers a comprehensive portfolio of services, including Gold Loans, Hire Purchase Loans and Business Loans. The ICL Group has also diversified into sectors such as travel, fashion, diagnostics and charitable initiatives. Under the joint leadership of CMD Adv. K.G. Anil Kumar and Mrs. Uma Anilkumar, Whole-time Director & CEO, ICL Fincorp, continues to operate in compliance with the Reserve Bank of India's standards, while earning the enduring trust of customers. As we unveil this new NCD issue, we warmly invite you to be a part of our journey towards financial growth, security and long-term value. (This is a press release and has not been vetted by our editorial team. All investments are subject to market risk. Do assess and decide.)
