Laxmi India Finance IPO set for debut today. Check GMP ahead of listing
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Jaipur-based non-banking finance company Laxmi India Finance is set to make its stock market debut on Tuesday with the issue commanding a modest 2% grey market premium (GMP) over its IPO price of Rs 158.The Rs 254.26-crore IPO, comprising a fresh issue and an offer for sale, closed with a healthy 1.86 times overall subscription, with strong retail participation at 2.20 times.Incorporated in 1996, Laxmi India Finance is a regional NBFC with a stronghold in Rajasthan and presence across Gujarat, Madhya Pradesh, and Chhattisgarh. It focuses on priority-sector lending to MSMEs and vehicle loan customers. As of March 2025, its AUM stood at Rs 1,277 crore, with MSME lending making up over 76% of the portfolio.The IPO was priced at Rs 158 per share, valuing the company at Rs 826 crore market cap post-issue. It reported a net profit of Rs 36 crore on revenues of Rs 248 crore in FY25, reflecting YoY growth of 60% and 42%, respectively.Analysts view the stock as fairly valued, though opinions are divided due to its regional focus, high leverage, and moderate asset quality indicators. Still, its efficient hub-and-spoke model, tech-enabled sourcing, and high first-time borrower base support its long-term lending strategy.The stock will list on both NSE and BSE on August 5, and early trade will reveal whether the slight GMP translates into listing-day gains or if the counter sees muted action.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
8 minutes ago
- Hindustan Times
PMPML plans 60-year PPP lease to develop depot lands
The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) board of directors has forwarded a proposal to the state government's urban development department (UDD) to lease depot lands for development on public-private partnership (PPP) for 60 years instead of the earlier 30 years. Facing a mounting financial deficit despite the introduction of electric and CNG-based air-conditioned buses, the public transport utility is exploring ways to renovate its over 30 depots to enhance facilities and generate additional revenue. (REPRESENTATIVE PHOTO) Facing a mounting financial deficit despite the introduction of electric and CNG-based air-conditioned buses, the public transport utility is exploring ways to renovate its over 30 depots to enhance facilities and generate additional revenue. 'Private agency appointed to prepare a feasibility report has identified 14-15 sites that could be developed under the PPP model. Three depot plots under the jurisdiction of the Pune Metropolitan Region Development Authority (PMRDA) have also been included in the plan,' said Pankaj Deore, chairman and managing director (CMD), PMPML, on Friday. While the proposed plan includes modern charging infrastructure, adequate parking facilities, workshops, hotels, office complexes, and hospitals at the lands, 60-year lease is expected to create steady income streams, said PMPML officials.
Mint
8 minutes ago
- Mint
OpenAI's GPT-5 Met With Mixed Reviews, Confusion in First Day
(Bloomberg) -- For months, OpenAI Chief Executive Officer Sam Altman has been hyping up the capabilities of GPT-5, setting up the launch as a seminal moment for the company. But in the first 24 hours after its release, the new model was met with mixed reviews. In its announcement Thursday, OpenAI said GPT-5 was better at coding and reasoning through complex problems, and touted it as advanced enough to turn chatbot ChatGPT into a Ph.D.-level expert. Some with early access praised the model, with caveats. 'It's my new favorite model,' developer Simon Willison wrote in a blog post, calling it 'competent' and 'occasionally impressive.' He added: 'It's not a dramatic departure from what we've had before.' On various social media platforms, however, ChatGPT users expressed frustration that GPT-5 continued to make up information and trip over simple math and spelling questions. Noah Giansiracusa, an associate professor of mathematics at Bentley University, said he felt the launch was 'underwhelming.' While there were 'some improvements,' he said, 'they were much more marginal than I would've hoped.' At least some of the reaction may come down to confusion over what's happening under the hood. Unlike OpenAI's prior software, GPT-5 automatically switches between models of varying levels of sophistication depending on the query. This approach can help maximize the company's computing resources, but it also means users may not always be engaging with the most powerful version of OpenAI's technology. Asked to identify how many times the letter 'b' shows up in 'blueberry,' for example, GPT-5 initially said 'three' in one test. When told to 'think harder,' however, GPT-5 appeared to engage its more advanced reasoning model and came up with the correct answer. On Friday, Altman responded to some of the feedback and said there was an issue with the system. 'GPT-5 will seem smarter starting today,' he said. 'Yesterday, the autoswitcher broke and was out of commission for a chunk of the day, and the result was GPT-5 seemed way dumber.' The stakes are high for the rollout. OpenAI is vying to keep ahead of growing AI competition from rivals in the US and China. The company is also fighting to convince businesses and individual users to pay up for its premium services to help offset the enormous amount it's spending on talent, chips and data centers to support AI development. The San Francisco-based company kicked off the generative AI boom nearly three years ago with the release of ChatGPT, which was originally powered by an earlier model called GPT-3.5. Since then, the company has released a series of increasingly sophisticated systems, including multiple options that mimic the process of human reasoning. As AI systems advance, it's become harder to say definitively how various services stack up. As of midday Friday, GPT-5 had risen to the top of various categories on LMArena, a popular leaderboard for AI models based on user rankings. But a different benchmark, ARC-AGI-2, puts GPT-5 behind the latest version of Grok from Elon Musk's xAI. In the absence of more definitive assessments, the model wars sometimes come down to vibes. And with nearly 700 million people now using ChatGPT each week, some are bound to disagree over how the model feels. It also takes longer than a day to gauge the value of a new AI system in someone's personal and professional life. Ethan Mollick, a professor at the Wharton School of the University of Pennsylvania who frequently experiments with AI models, marveled at GPT-5's ability to do research, come up with clever written responses and make programming simple, even for a novice. 'GPT-5 just does stuff, often extraordinary stuff, sometimes weird stuff, sometimes very AI stuff, on its own,' he wrote in a blog post. 'And that is what makes it so interesting.' On Reddit, however, the reactions were very different. During an 'Ask Me Anything' session Friday on the platform, Altman fielded pushback from users who were frustrated not to have more say and visibility into which model responds to their queries. Altman said OpenAI would take some steps to address these complaints, including making it 'more transparent.' At one point, Altman responded to a Reddit user's question by noting that OpenAI thinks the 'writing quality' in one version of GPT-5 is better than GPT-4.5. Then he asked: 'Do you find it to be worse?' One user after another were quick to respond: yes. More stories like this are available on
United News of India
21 minutes ago
- United News of India
NSA Doval meets Russia's First Deputy Prime Minister in Moscow
Delhi/Moscow, Aug 8 (UNI) Russia's First Deputy Prime Minister Denis Manturov held a meeting with India's National Security Advisor Ajit Kumar Doval, who is now in Moscow. The parties discussed topical issues of bilateral military-technical cooperation, as well as the implementation of joint projects in other strategic sectors, including civil aircraft manufacturing, metallurgy, and the chemical industry, the Russian embassy in India tweeted. Doval, who arrived in Russia on Wednesday, has already called on Russian president Vladimir Putin and other leaders. According to sources, Doval is visiting Russia in the run up to Putin's official trip to India later this year. His trip also coincides with US president Donald Trump imposing a further 25 percent tariff on Indian goods entering his country's market as penalty for New Delhi continuing to buy Russian oil. With the latest tariff hike, the total tariff on Indian goods reaching the US has gone up to a stiff 50 percent. UNI SSP SS More News NSA Doval meets Russia's First Deputy Prime Minister in Moscow 09 Aug 2025 | 2:29 AM Delhi/Moscow, Aug 8 (UNI) Russia's First Deputy Prime Minister Denis Manturov held a meeting with India's National Security Advisor Ajit Kumar Doval, who is now in Moscow. see more.. Delhi CM salutes sanitation workers' dedication, vows to protect their dignity, rights & honour 08 Aug 2025 | 11:48 PM New Delhi, Aug 8 (UNI) Saluting the dedication and work done by city's sanitation workers, Delhi Chief Minister Rekha Gupta today said that the relentless effort put in by them to make the national capital clean and free from waste is something that cannot be expressed in words. see more.. Delhi CM seeks action on Rs 5,200 cr labour fund left unspent by previous Govt 08 Aug 2025 | 11:39 PM New Delhi, Aug 8 (UNI) Delhi Chief Minister Rekha Gupta delivered a strong statement in the legislative assembly today, criticising the previous government over declarations regarding workers' welfare, alleging they were not translated into meaningful action. see more.. Delhi traders concerned over certain clauses in GST Amendment Bills, says opposition 08 Aug 2025 | 10:39 PM New Delhi, Aug 8 (UNI) The Delhi Assembly today witnessed heated discussions over two GST Amendment Bills tabled by the government, with the Aam Aadmi Party (AAP) raising concerns about their potential impact on small traders. see more.. China welcomes PM Modi's upcoming visit to Tianjin for SCO Summit on Aug 31-Sep 1 08 Aug 2025 | 10:37 PM New Delhi, Aug 8 (UNI) China today welcomed Prime Minister Narendra Modi's upcoming visit to Tianjin for the Shanghai Cooperation Organisation (SCO) Summit saying it will be a ''gathering of solidarity, friendship and fruitful results.'' ''China welcomes Prime Minister Modi to China for the SCO Tianjin Summit. We believe that with the concerted effort of all parties, the Tianjin summit will be a gathering of solidarity, friendship and fruitful results,'' Chinese Foreign Ministry spokesman Guo Jiakun said.
