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Mint
30-07-2025
- Business
- Mint
Laxmi India Finance IPO Day 2: Should you subscribe? A look at subscription status and latest GMP
The initial public offering (IPO) of Laxmi India Finance opened for subscription on Tuesday, July 29. The shadow lender is offering its shares in the price band of ₹ 150-158 per share. Investors can apply for a minimum of 94 equity shares and in multiples thereafter. The IPO will close for bidding on Thursday, July 31. On Day 2 of the IPO, as of 10:15 am, the issue was subscribed 0.44 times, receiving bids for 49.22 lakh shares against 1.13 crore shares on offer. The retail investor portion was booked 0.72 times, while the non-institutional investor (NII) segment saw 0.23 times subscription. The qualified institutional buyer (QIB) category was bid 0.10 percent. Moreover, the employee quota was subscribed 0.46 times till In the grey market, shares of Laxmi India Finance were trading at a grey market premium (GMP) of ₹ 8.25, implying no gain over the issue price. This indicates an estimated listing price of ₹ 166.25 per share, up 5.22 percent from IPO price. Investors should note that GMP is merely indicative of unlisted market sentiment and is subject to rapid changes. The company aims to raise a total of ₹ 254.26 crore through the IPO, comprising a fresh equity issue worth ₹ 165.17 crore and an offer-for-sale (OFS) of up to 56,38,620 equity shares amounting to ₹ 89.09 crore. The net proceeds from the fresh issue will be utilised for augmenting the company's capital base to meet future capital requirements and for general corporate purposes. Prior to the IPO opening, Laxmi India Finance mobilised ₹ 75.5 crore through its anchor book, allotting 47.79 lakh shares at ₹ 158 each. Anchor investors included 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. PL Capital Markets is acting as the book-running lead manager to the issue, while MUFG Intime India (Link Intime) is the registrar. Shares of the company are proposed to be listed on both the BSE and NSE, with listing scheduled for Tuesday, August 5. Incorporated in 1996, Laxmi India Finance is engaged in offering MSME loans, vehicle loans, construction finance, and other structured lending solutions, largely catering to small businesses and entrepreneurs. More than 80 percent of its MSME loans qualify as priority sector lending. For the year ended March 31, 2025, Laxmi India Finance reported a net profit of ₹ 36.01 crore with revenue of ₹ 248.04 crore. In the previous financial year ended March 31, 2024, the company posted a net profit of ₹ 22.47 crore and revenue of ₹ 175.02 crore. It is projected to command a net profit of close to ₹ 825.83 crore. Arihant said the company has shown strong financial performance and is among the fastest-growing players in terms of assets under management (AUM), reporting 32.83 percent YoY AUM growth in FY25. SBI Securities added that the company has maintained a low gross NPA of 1.07 percent and net NPA of 0.48 percent during the same period. The brokerage highlighted Laxmi India Finance's diversified funding base, supported by 47 lenders, and a strong capital adequacy ratio of 20.80 percent. The issue is valued at a P/BV of 3.21x, based on FY25 BV/share of ₹ 49.26. It recommended subscribing to the IPO for the long term. Swastika noted that the company's core business revolves around lending to segments underserved by traditional banks. However, it pointed out that the business operates in a highly competitive environment. Based on the current financial metrics, the firm believes the IPO is fairly priced. Therefore, it advised investors to subscribe to the issue with caution. SMIFS recommended subscribing to the issue based on the company's consistent growth in AUM, profitability, and asset quality. It emphasized the importance of continued risk management as the company scales up. The firm also pointed to Laxmi India Finance's strong management, securitised loan book, and opportunities from cross-selling and geographic expansion as reasons to consider the IPO a long-term investment opportunity. Ventura noted that the company intends to expand its presence in existing and new geographies, enhance digital capabilities for underwriting and loan servicing, and diversify its lending portfolio by offering new-age financial products. The company is also looking to strengthen its SME financing arm and increase cross-selling of insurance and other financial offerings. Based on this strategy, Ventura recommended subscribing to the IPO. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
29-07-2025
- Business
- Economic Times
Laxmi India Finance garners over Rs 75 cr from anchor investors. Check key details here
Laxmi India Finance Ltd garnered over Rs 75 crore from anchor investors, including Saint Capital Fund and BNP Paribas Financial Markets, prior to its IPO launch. The IPO, opening July 29, comprises a fresh issue and offer for sale, targeting Rs 254.26 crore. Proceeds will bolster the NBFC's capital for lending. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NBFC player Laxmi India Finance Ltd on Monday raised over Rs 75 crore from anchor investors ahead of its initial share-sale opening for public subscription This anchor portion saw participation from institutional investors, including 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, according to a circular uploaded on the BSE per the circular, Laxmi India Finance has allotted 47.79 lakh equity shares to 11 funds at Rs 158 apiece. This aggregates the transaction size to Rs 75.51 issue, with a price band of Rs 150-158 per share, will open for public subscription on July 29 and conclude on July Jaipur-based company's IPO is a combination of fresh issue of 1.84 crore equity shares and an offer for sale of 56.38 lakh shares by promoters. Overall, the IPO size is pegged at Rs 254.26 crore at the upper end of the price from the fresh issue will be used to shore up its capital base to meet future capital requirements towards onward lending and for general corporate India Finance, a non-deposit-taking NBFC , offers a diverse product portfolio, including MSME (micro, small and medium enterprises) loans, vehicle loans, construction loans, and other lending solutions to of March 2025, the company's assets under management (AUM) increased to Rs 1,277 crore from Rs 687 crore as of March 2023, representing a CAGR (compound annual growth rate) of over 36 per cent, primarily driven by an increase in volume of its loans and strengthened branch operational network spans across 158 branches in rural, semi-urban and urban areas in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh as of March NBFC player's revenue from operations increased 42 per cent to Rs 246 crore in FY25 against Rs 173 crore in the preceding fiscal year, while its profit after tax rose 60 per cent to Rs 36 crore compared to Rs 22.5 crore during the Capital Markets is the sole book-running lead manager to the public issue. PTI
