Laxmi India Finance Ltd Gears Up for IPO Launch

Laxmi India Finance Ltd, a Jaipur-based NBFC, has filed draft papers with Sebi for an IPO, comprising a fresh issue of 1.04 crore shares and an OFS of 56.38 lakh shares by promoters. Proceeds aim to strengthen capital for lending and general corporate needs. The company manages assets worth Rs 1,035.53 crore, with an extensive branch network.

Laxmi India Finance Ltd, a non-banking financial company based in Jaipur, has embarked on the path to raise capital by filing draft papers for an Initial Public Offering with the Securities and Exchange Board of India (Sebi).

The proposed IPO includes a fresh issue of 1.04 crore shares, alongside an offer for sale of 56.38 lakh shares by the company's promoters, as detailed in the draft red herring prospectus. The funds raised will be allocated towards bolstering the company's capital base, along with serving future capital requirements directed at onward lending and general corporate purposes.

With assets under management totaling Rs 1,035.53 crore, Laxmi India Finance boasts a diverse portfolio, focusing predominantly on MSME and vehicle loans. The company has grown its branch network significantly, now spanning 139 branches across Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh, reflecting its dynamic expansion strategy under the sole book-running lead manager, PL Capital Markets.

(With inputs from agencies.)