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Laxmi India Finance IPO wraps up with 1.86x subscription
Laxmi India Finance's IPO wrapped up with 1.86x overall subscription—retail investors led the charge at 2.20x, while NIIs and QIBs came in at 1.83x and 1.3x respectively.
Allotment happens August 1, and shares hit BSE/NSE on August 5.
Who are they?
Based in Jaipur since 1996, Laxmi India Finance is an NBFC that offers secured loans to MSMEs, vehicle loans, and construction finance.
With 158 branches across five states and over 35,500 customers, they managed assets worth ₹1,277 crore as of March this year.
What is the issue about?
The ₹254 crore IPO includes both new shares and an offer-for-sale.
After listing, promoters' stake drops from nearly 90% to about 60%.
The funds will help boost lending capacity and strengthen their market position as they look to grow further.