Laxmi India Finance sets price band at Rs 150–158 for IPO opening on July 29
ADVERTISEMENT The IPO comprises a fresh issue of 1.04 crore shares worth Rs 165.17 crore and an offer for sale of 56.38 lakh shares worth Rs 89.09 crore by existing shareholders. Retail investors can bid for a minimum of 94 shares per lot. Shares of Laxmi India Finance are proposed to be listed on both the BSE and NSE, with a tentative listing date of August 5.
The company intends to use the proceeds from the fresh issue primarily to augment its capital base and meet future lending requirements.
As of March 2025, Laxmi India Finance had assets under management (AUM) of Rs 1,277 crore, with MSME loans comprising 76.34% of its total portfolio. Its loan book is diversified across Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh, with a network of 158 branches and over 35,500 active customers, including a significant share of first-time borrowers.Laxmi India has shown strong growth in its financials. Revenue increased 42% year-on-year to Rs 248 crore in FY25, while profit after tax rose 60% to Rs 36 crore.
Also read: Tata Capital seeks up to $20 billion valuation in upcoming IPO: Sources
ADVERTISEMENT Backed by a mix of high-yield lending products, deep regional reach, and growing demand for formal credit among underserved segments, Laxmi India Finance offers investors a compelling entry into the expanding MSME lending space. The IPO is being managed by PL Capital Markets, with Link Intime as the registrar.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
a few seconds ago
- Hans India
Boeing reports net loss of $612 million in Q2 2025
New Delhi: US-based aircraft manufacturer, the Boeing Company's net loss for the April-June quarter (Q2 2025) stood at $612 million, it said in a statement on Tuesday. The company had reported a net loss of $1,439 million in the same quarter a year ago. Meanwhile, revenue rose to $22.75 billion from $16.87 billion in the second quarter of 2024. The operating margin stood at 0.8 per cent against 6.5 per cent year-on-year. For the quarter, the loss from operations improved to $176 million from $1,090 million in Q2 2024. The company reported an operating cash flow of $227 million against a negative cash flow of $3,6923 million in the same quarter a year ago. The company's commercial aeroplanes' revenue of $10.9 billion for the second quarter, and the operating margin of (5.1) per cent, primarily reflects higher deliveries. The 737 programme increased the production rate to 38 per month in the quarter and plans to stabilise at that rate before requesting approval to increase to 42 per month later this year, the company said. The company said that it has booked 455 net orders in the quarter for commercial aeroplanes, including aeroplanes for Qatar Airways and British Airways. Commercial aeroplanes delivered 150 aeroplanes during the quarter, and backlog included over 5,900 aeroplanes valued at $522 billion. The company claimed that since May, the production has remained steady. "Our fundamental changes to strengthen safety and quality are producing improved results as we stabilise our operations and deliver higher quality aeroplanes, products and services to our customers," Boeing President and Chief Executive Officer Kelly Ortberg said. As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment, he added. Meanwhile, shares of Boeing were trading at $234.35, down 0.87 per cent at around 7.14 pm IST.
Economic Times
a few seconds ago
- Economic Times
Two Trades for Today: A metals stock for an over 6% gain, a large-cap chemicals maker for about 7% upmove
The markets broke their losing streak and had a trending day on Tuesday, and ended with gains. The Nifty saw a negative start to the day; however, it also formed its day's low point in the initial minutes of the session. It traded in a range in the morning session and gradually trended higher. It went on to form the day's high towards the end of the session. While maintaining the gains, the headline Index closed with a gain of 140.20 points Membership Benefits Access the exclusive Economic Times Stories, Editorial & Expert opinion Complete Access with ET Prime Experience your Economic Times newspaper, The way you've always liked! Get to know where the market gurus invest & grow your portfolio. Stock Analyzer Instant stock analysis based on Solvency, Profitability, Growth, Valuation, Momentum, Risk & More. Now Available with ET Prime Manage your money efficiently with this weekly guide. Clean experience with minimal ads Easy & distraction-free reading with 90% less ads Sharp Insight-rich, In-depth stories across 20+ sectors 1500+ Exclusive stories & analysis across sectors to help you stay informed Get One Year Times Prime Subscription worth ₹1199 for free Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/- Enjoy unlimited access to breaking news and thought provoking stories from all around the world. Get One Year Docubay Subscription worth ₹999 for free Stream award-winning international documentaries from more than 100 countries. Comment & Engage with ET Prime community Communicate & build a connection with great minds of the industry A trusted team of Journalists & Analysts Unbiased perspective & detailed reporting by our team of journalists who have in-depth knowledge and years of experience
Indian Express
a few seconds ago
- Indian Express
Recovery amount at Rs 338 crore: Govt raised tax demand of Rs 35,104 crore under foreign black money law over last 10 years
The government has raised tax demand of Rs 35,104 crore under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 over the last decade, Minister of State for Finance Pankaj Chaudhary said in Rajya Sabha on Tuesday. However, recovery amount in the form of tax, penalty and interest demand under the Act has been much lower at Rs 338 crore during July 1, 2015 to March 31, 2025 along with 163 prosecution complaints filed till March 31, 2025, data shared in the Upper House showed. In a written response to a question by CPI(M) MP John Brittas, wherein he asked about details of international deposits, Chaudhary said tax demand of Rs 21,719 crore has been created as a result of completed assessments under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 during July 1, 2015 to March 31, 2025. In addition, tax demand of Rs 13,385 crore has been raised till March 31, 2025 on account of penalties imposed under various sections of the Act. On the question of whether Indian-linked funds in Swiss banks surged more than three times the previous year's amount, Chaudhary said there are some media reports based on Swiss National Bank (SNB) statistics which mention that Indian linked funds in Swiss banks have risen in 2024 as compared to previous year's amount. However, Chaudhary, pointed out that as per Swiss authorities, the data in respect of SNB statistics includes, inter alia, amounts due in respect of customer deposits (including in foreign branches of Swiss Banks located in any country), other liabilities as well as amounts due to banks. 'The Swiss authorities have also clarified that the SNB annual banking statistics should not be used for analysing deposits held by residents of India in Switzerland,' he said. Indian money in Swiss banks more than tripled in 2024 to 3.5 billion Swiss francs (CHF), or approximately Rs 37,600 crore on the back of a huge jump in funds held through local branches and other financial institutions, news agency PTI had reported last month. On the query to provide details of outstanding tax demand raised from the data shared with India via Automatic Exchange of Information under India-Switzerland tax agreement, the Minister said there is no centralised data for the specific query on country-wise undisclosed foreign income and the action taken. 'Tax demand arising in cases of undisclosed foreign income or assets can pertain to multiple jurisdictions. Country-wise bifurcation of such demand is not maintained centrally,' Chaudhary said. For details and status of enquiries conducted regarding Swiss holdings, the Minister said such enquiries are conducted on a case-by-case basis by the jurisdictional authorities. 'Whenever any instance of tax evasion is detected, appropriate action under Direct Tax Laws, including searches, surveys, enquiries, assessment of income, levy of taxes, penalties, as well as filing of prosecution complaints in criminal courts, as may be applicable, is taken,' he said. Replying to the question about the steps taken to recover unpaid taxes, penalties, or interest by Indian citizens or entities holding Swiss deposits, Chaudhary said the Income Tax Department has established a mechanism for recovery of demand that consists of outstanding tax, penalty and interest as per the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which apply to cases of undisclosed foreign income and assets in any country abroad. Such taxes, penalties and interest form part of the total tax liability of each assessee and is recovered in accordance with law, he said. Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
