Laxmi India Finance, a non-deposit taking non-banking financial company (NBFC), has launched its initial public offering (IPO) to raise ₹254.26 Crores through a Book Built Issue. The company has steadily grown in India's underserved lending sector, providing MSME loans, vehicle finance, and construction loans, particularly across rural and semi-urban regions in Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh.

As of September 30, 2024, Laxmi India Finance operated 139 branches across various geographies, reflecting its wide reach and operational depth. The IPO comprises a Fresh Issue of 104.53 lakh shares worth ₹165.17 Cr and an Offer for Sale (OFS) of 56.38 lakh shares aggregating ₹89.09 Cr.

IPO Subscription & Listing Details

The IPO opened on July 29, 2025, and closed on July 31, 2025. As of 11:30 AM on July 31, the IPO has been subscribed 0.38x, indicating moderate investor interest. The allotment date is scheduled for August 1, 2025 (Friday), with the listing expected on August 5, 2025 (Tuesday) on both BSE and NSE.

The price band for the IPO has been fixed between ₹150 to ₹158 per equity share, and the lot size is 94 shares, meaning a minimum investment of ₹14,852 is required from retail investors. High-Net-Worth Individuals (HNIs) must invest in a minimum of 14 lots (1,316 shares), totaling ₹2,07,928.

Anchor Investors & Allocation

Laxmi India Finance successfully raised ₹75.51 Crores from anchor investors ahead of the IPO by allocating 47,79,379 equity shares at ₹158 per share. This shows confidence from institutional backers.

It is to be noted that anchor shares are carved out of the QIB portion, and hence reduce available allocation for general QIB bidders during the IPO.

IPO Grey Market Premium (GMP) Today

As of July 24, 2025, the Grey Market Premium (GMP) stands at ₹13, indicating an expected listing price of ₹161, which is approximately an 8.22% premium over the upper price band. However, investors are advised to exercise caution, as GMP is unofficial, speculative, and should not be the sole basis for investment decisions.

Financial Performance Snapshot

Laxmi India Finance has shown consistent financial growth:

• Revenue from operations:

  • FY23: ₹1,306.68 Million

  • FY24: ₹1,750.18 Million

  • FY25: ₹2,480.38 Million

• EBITDA:

  • FY23: ₹859.56 Million

  • FY24: ₹1,145.86 Million

  • FY25: ₹1,638.83 Million

• Profit After Tax (PAT):

  • FY23: ₹159.71 Million

  • FY24: ₹224.68 Million

  • FY25: ₹360.05 Million

This growth indicates a steady and upward financial trajectory, supported by operational expansion and diversified lending portfolios.

Valuation & Ratios

• Pre-issue EPS (FY24): ₹8.78

• Post-issue EPS (FY24): ₹6.89

• Pre-issue P/E Ratio: 17.99x

• Post-issue P/E Ratio: 22.94x

• Industry P/E: 82x

• ROE (FY24): 15.66%

• RoNW (FY24): 15.66%

This suggests the IPO is reasonably priced compared to industry peers, offering fair valuation metrics for investors.

Use of IPO Proceeds

The company plans to use ₹1,770 million from the Net Proceeds for the augmentation of capital base to support future lending requirements.

Registrar & Lead Manager

• Book Running Lead Manager: PL Capital Markets Pvt. Ltd.

• Registrar to the Issue: MUFG Intime India Pvt. Ltd. (formerly Link Intime)

How to Check IPO Allotment Status

To check the allotment status on or after August 1, 2025, follow these steps:

1. Visit the registrar’s website.

2. Choose "Laxmi India Finance Limited IPO" from the drop-down list.

3. Enter your PAN, application number, or DP Client ID.

4. Click "Submit" to view your allotment status.

Laxmi India Finance IPO GMP Trend

Laxmi India Finance IPO Review: Should You Apply?

Laxmi India Finance has demonstrated strong growth, a dedicated management team, and a wide distribution network. Led by promoter Deepak Baid, who has over 20 years in financial services, the company benefits from an experienced leadership team supported by a professional board.

The IPO valuation appears reasonable, with a steady financial trajectory, healthy profit margins, and return ratios. The GMP of ₹13 signals potential listing gains, though not guaranteed.

Recommendation: Investors with moderate risk appetite seeking listing gains or exposure to the NBFC sector may consider subscribing.

Disclaimer

The details provided are for informational and educational purposes only and should not be construed as investment advice. Investing in the securities market involves risk. Kindly consult your financial advisor before making investment decisions. Performance in the grey market is speculative and unofficial.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Flysbs Aviation, Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries.

The Current active IPO are Cash Ur Drive Marketing, Renol Polychem, B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty, Aditya Infotech, Lakshmi India Finance, Kaytex Fabrics.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.