Laxmi India Finance IPO Opens July 29; Price Band Set at ₹150-₹158 per Share
Deepak Baid, MD, and leadership team confident of strong market response
- IPO Dates: Opens on July 29, 2025, and closes on July 31, 2025.
- Price Band: Set between ₹150 to ₹158 per equity share (face value ₹5).
- Issue Size: Total offering up to ₹254.26 crore, including a fresh issue and Offer for Sale (OFS).
- Business Focus: Diversified NBFC offering MSME finance, vehicle loans, construction loans, and small-ticket personal/business loans.
- Financial Highlights: FY25 PAT up 60.25% to ₹36.01 crore; AUM grew at 36.36% CAGR to ₹1,277 crore.
- Leadership & Management: Led by MD Deepak Baid, with Piyush Somani (CFO), Kuldeep Singh Sikarwar (CBO), and Uday Patil of PL Capital Markets managing the issue.
BILKULONLINE |Ahmedabad | 26 July 2025
Laxmi India Finance Limited has announced that its Initial Public Offering (IPO) will open for subscription on Tuesday, July 29, 2025, and close on Thursday, July 31, 2025. The price band has been set at ₹150 to ₹158 per equity share of face value ₹5 each.
The IPO comprises a fresh issue of up to 1.84 crore equity shares and an Offer for Sale (OFS) of up to 56.38 lakh equity shares by the Promoter and Promoter Group Selling Shareholders. Based on the price band, the total issue size will range between ₹241.38 crore and ₹254.26 crore.
Deepak Baid, Managing Director of Laxmi India Finance Limited, expressed his confidence in the company’s growth journey:
“We have consistently focused on underserved markets with diversified lending products. Our IPO is a milestone that reflects our progress and positions us to scale further with strength and responsibility.”
The company was initially set up as Deepak Finance & Leasing Company in the early 1990s and has since evolved into a non-deposit taking non-banking financial company (NBFC). Its product suite includes MSME Finance, Vehicle Finance, Construction Loans, as well as small-ticket personal and business loans, and wholesale funding to other NBFCs.
The proceeds from Laxmi India Finance’s IPO will be used to augment the capital base to meet future capital requirements for onward lending and for general corporate purposes.
The company aims to raise approximately ₹254 crore through this public issue, with the proceeds from the fresh issue specifically intended for strengthening its capital base to support future lending activities.
Additionally, the funds will be utilized for general corporate purposes.
The financials present a strong upward trajectory:
Assets under Management (AUM) surged to ₹1,277.02 crore as of March 31, 2025, from ₹686.77 crore in FY23, registering a CAGR of 36.36%.
Revenue from operations grew 41.92% to ₹245.71 crore in FY25 from ₹173.14 crore in FY24.
Profit after Tax (PAT) increased by 60.25% to ₹36.01 crore in FY25 from ₹22.47 crore in the previous year.
Piyush Somani, Chief Treasury Officer, noted “Our robust financials reflect disciplined asset growth and prudent treasury operations. The IPO will strengthen our capital base and expand our lending capabilities.”
As of March 31, 2025, the company has a wide operational footprint of 158 branches spread across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh, catering to customers across rural, semi-urban, and urban regions.
Commenting on the business momentum, Kuldeep Singh Sikarwar, Chief Business Officer, added “We are deeply rooted in community financing with local insights. Our focus on quality customer service and branch-led growth gives us an edge in rural and semi-urban lending.”
The IPO will be managed by PL Capital Markets Pvt. Ltd. as the sole Book Running Lead Manager. Speaking on the market readiness, Uday Patil, Director of PL Capital Markets, said “Laxmi India Finance’s growth story is backed by strong fundamentals, an experienced leadership team, and clear expansion strategies. We expect strong investor interest across categories.”
The Offer is being made through the book-building process, with:
Up to 50% of the net offer reserved for Qualified Institutional Buyers (QIBs)
Not less than 15% for Non-Institutional Investors (NIIs)
At least 35% for Retail Individual Investors
Investors can bid for a minimum of 94 equity shares and in multiples thereof.
MUFG Intime India Private Limited is the Registrar to the issue.
Disclaimer: For complete IPO details, risk factors, and investment guidance, refer to the Red Herring Prospectus filed with SEBI and available at www.sebi.gov.in.
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