Laxmi India Finance IPO is a book-built issue worth ₹254.26 crore. The offering includes a fresh issue of 1.05 crore shares amounting to ₹165.17 crore and an offer for sale of 0.56 crore shares totalling ₹89.09 crore. The IPO opens for subscription on July 29, 2025, and will close on July 31, 2025.
The allotment of shares is likely to be finalised on August 1, 2025. The company is expected to be listed on both BSE and NSE, with the tentative listing date set as August 5, 2025. The price band for the IPO is fixed between ₹150 and ₹158 per share.
Retail investors can apply for a minimum lot of 94 shares, requiring an investment of ₹14,100. For small non-institutional investors (sNII), the lot size is 14 (1,316 shares) with an investment of ₹2,07,928, while for big non-institutional investors (bNII), the lot size is 68 (6,392 shares), requiring ₹10,09,936.
PL Capital Markets Private Limited is managing the book-building process, and MUFG Intime India Private Limited is acting as the registrar. Detailed information is available in the IPO’s RHP.
Industry Outlook
- Retail credit share is projected to grow from 21.6% in FY19 to 32.1% in FY25, showing increasing borrower demand and lender preference for low-risk retail loans like housing, vehicle, and gold loans.
- NBFCs' total credit portfolio is expected to reach ₹45.0 trillion by March 2025, with an estimated year-on-year growth of 13%. This reflects consistent demand, especially from the retail and MSME segments.
- GNPA levels for NBFCs have improved from 6.8% in March 2020 to a projected 3.8% in March 2025, indicating better risk management and higher credit reliability.
Laxmi India Finance IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The funds raised will be used to strengthen the company’s capital base to support future lending activities.
- Proceeds will help the company expand its loan book and meet growing credit demand.
- Listing on stock exchanges is expected to enhance the company’s visibility, improve its brand recognition, and create a public market for its shares.
About Laxmi India Finance Limited
Laxmi India Finance Limited is a non-deposit taking NBFC focused on serving underserved and financially excluded customers in India. As of March 31, 2025, the company operated 158 branches across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh.
It has the highest number of branches in Rajasthan among its peers and ranks second in terms of return on net worth in FY25, according to the CARE Report. The company offers a diversified loan portfolio that includes MSME finance, vehicle finance, construction loans, and small-ticket personal loans.
MSME and vehicle loans together contribute over 90% to its assets under management (AUM), which stood at ₹12,770.18 million as of March 31, 2025. Laxmi India Finance caters to over 35,000 customers, of which nearly 37% are first-time borrowers.
Its technological backbone includes digital loan origination, real-time collections tracking, and a mobile CRM platform to streamline operations. This has enabled faster disbursals and improved customer experience. Its digital tools, such as the Laxmi Mitra app, help in wide customer reach and effective lead generation.
The company has shown a strong financial trajectory, with a CAGR of 36.36% in AUM over two years and improved collection efficiency exceeding 96%. Backed by improved credit ratings and reduced borrowing costs, Laxmi India Finance continues to strengthen its presence in semi-urban and rural areas, offering last-mile financial support while maintaining credit discipline and operational efficiency.
How To Check the Allotment Status of Laxmi India Finance IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Laxmi India Finance IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Laxmi India Finance IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Laxmi India Finance IPO
Registered office: 2 DFL, Gopinath Marg, MI Road, Jaipur - 302001, Rajasthan, India
Phone: +91 9773376198
E-mail: investors@lifc.in
Laxmi India Finance IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Up to 50% of the Net Offer |
|
Retail Shares |
Up to 35% of the Net Offer |
|
NII Shares |
Not less than 15% of the Net Offer |
Laxmi India Finance IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
94 |
₹14,852 |
|
Retail (Max) |
13 |
1,222 |
₹1,93,076 |
|
S-HNI (Min) |
14 |
1,316 |
₹2,07,928 |
|
S-HNI (Max) |
67 |
6,298 |
₹9,95,084 |
|
B-HNI (Min) |
68 |
6,392 |
₹10,09,936 |
Laxmi India Finance IPO Promoter Holding
The promoters of the company include Deepak Baid, Prem Devi Baid, Aneesha Baid, Hirak vinimay Private Limited, Deepak Hitech Motors Private Limited, Prem dealers Private Limited and Vivan Baid Family Trust.
|
Share Holding Pre-Issue |
89.05% |
|
Share Holding Post Issue  |
- |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Laxmi India Finance IPO Investor Reservation
|
Category |
Maximum Investment Limit |
Allowed to Bid at Cut-off Price |
|
Retail Individual (RII) |
Up to ₹2 lakhs |
Yes |
|
Small NII (sNII) |
More than ₹2 lakhs and up to ₹10 lakhs |
No |
|
Big NII (bNII) |
Above ₹10 lakhs (up to NII quota limit) |
No |
|
Employee |
Up to ₹2 lakhs (with possible discount) |
Yes |
|
Employee + RII/NII |
● Employee: Up to ₹2 lakhs ● RII: Up to ₹2 lakhs ● sNII: ₹2–10 lakhs ● bNII: Above ₹10 lakhs |
Yes (for both Employee and RII/NII) |
Key Performance Indicators for Laxmi India Finance IPO
|
KPI |
Value |
|
Debt/Equity  |
4.42 |
|
RoNW (%) |
13.95 |
|
PAT Margin (%) |
14.48 |
|
EBITDA Margin (%) |
66.07 |
|
Price to Book Value |
2.57 |
Laxmi India Finance IPO Prospectus
Laxmi India Finance IPO Registrar and Lead Managers
Laxmi India Finance IPO Lead Managers
- PL Capital Markets Private Limited
Registrar for Laxmi India Finance IPO
MUFG Intime India Private Limited (Link Intime)
- Contact Number: +91-22-4918 6270
- Email Address: ipo@linkintime.co.in
Laxmi India Finance IPO Registrar
Financial Performance of Laxmi India Finance Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ million) | 2,457.13 | 1,731.37 |
| Total Assets (in ₹ million) | 14,125.21 | 9,848.46 |
| Net Worth (in ₹ million) | 2,574.65 | 2,012.15 |
| Total Borrowings (in ₹ million) | 11,370.63 | 7,666.77 |
| Earnings Per Equity Share (in ₹) | 8.78 | 5.66 |
| Return on Net Worth (RoNW) (%) | 13.95 | 11.24 |
| EBITDA (in ₹ million) | 1,638.84 | 1,145.87 |
Know before investing
Strengths
8MSME loans contributed 76.34% of AUM, serving 18,596 secured customers efficiently.
Average MSME loan size ranges from ₹0.05 to ₹2.5 million, reducing risk.
AUM stood at ₹12,770.18 million, with 76.34% exposure to MSME lending.
Operating 158 branches, expanded by 23 in FY25 to widen market reach.
Strong hub-and-branch model increases efficiency, reduces cost, and improves customer service access.
Well-diversified funding from banks and NBFCs ensures stable, cost-effective capital sources.
Experienced management team and independent board support growth with good governance practices.
Cross-selling products across branches improves profitability, retention, and customer acquisition cost.
Risks
8₹11,370.64 million borrowings exposes the company to interest rate and covenant risks.
80.96% revenue from MSMEs; sector issues could seriously affect business results.
Funding disruptions may impact liquidity, cash flow, and financial health significantly.
Failure to meet SEBI listing norms may invite penalties and prosecution.
RBI inspections may require corrective actions, affecting operations and compliance status.
Rising NPAs or provision shortfalls could damage profitability and loan book quality.
Promoter group’s similar businesses may create conflicts, impacting operations and customer trust.
Inadequate AML or KYC compliance may cause reputational and regulatory harm.
Laxmi India Finance Limited Peer Comparison
| Company Name | Total Income (₹ Mn) | PAT (₹ Mn) | EPS (₹) | RoNW (%) |
|---|---|---|---|---|
| Laxmi India Finance Limited | 2,480.38 | 359.10 | 8.78 | 15.66 |
| MAS Financial Services Limited | 15,204.50 | 3,202.10 | 17.48 | 14.71 |
| Five Star Business Finance Limited | 28,660.24 | 10,695.88 | 36.61 | 18.60 |
| SBFC Finance Limited | 13,067.46 | 3,399.07 | 3.21 | 11.39 |
| Ugro Capital Limited | 14,418.46 | 1,512.25 | 15.68 | 8.68 |
