Upcoming IPO: Laxmi India Finance IPO opens on July 29, price band set at ₹150-158 apiece
The floor price is 30 times the face value of the equity shares and the cap price is 31.60 times the face value of the equity shares. The Laxmi India Finance IPO lot size is 94 equity shares and in multiples of 94 equity shares thereafter.
Laxmi India Finance IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved upto 160,928 equity shares.
Tentatively, Laxmi India Finance IPO basis of allotment of shares will be finalised on Friday, August 1 and the company will initiate refunds on Monday, August 4 while the shares will be credited to the demat account of allottees on the same day following refund. Laxmi India Finance share price is likely to be listed on BSE and NSE on Tuesday, August 5.
Laxmi India Finance is offering 1.6 crore shares through its IPO, which includes a fresh issue of 1.04 crore shares and a promoter sell-off of 56.38 lakh shares.
The company plans to use the proceeds from the fresh share issue to strengthen its capital base for future lending needs, whereas the funds from the offer-for-sale will benefit the promoters.
PL Capital Markets Private Limited is serving as the book-running lead manager for the Laxmi India Finance IPO, and MUFG Intime India Private Limited (Link Intime) is the registrar managing the issue.
Laxmi IPO GMP today or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 158 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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