Laxmi India Finance Limited IPO

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Laxmi India Finance Limited is a non-deposit taking NBFC that serves underserved customers in India’s lending market, focusing on MSME, vehicle, and construction loans. Established in the early 1990s as Deepak Finance & Leasing Company, it was acquired by the current promoters in 2010 and consolidated in 2011. The company operates 158 branches across five states, with a strong presence in Rajasthan.

Product Portfolio

a. MSME Finance: Secured loans for business operations, expansion, and working capital needs.

b. Vehicle Finance: Loans for purchasing used commercial vehicles, personal vehicles, tractors, two-wheelers, electric vehicles, etc.

c. Construction Loans: Secured loans for purchasing residential property or home construction.

d. Other Loans: Includes small-ticket unsecured business and personal loans, and wholesale loans to other NBFCs.

Financial Growth and Performance

i) Assets Under Management (AUM): ₹12,770.18 million as of March 31, 2025, reflecting a CAGR of 36.36% from ₹6,867.67 million in FY23.

ii) Customer Base: 35,568 customers, including 18,596 MSME customers and 12,423 vehicle loan customers, representing a growth of 48.78% from FY24.

iii) Loan Disbursement: ₹7,185.34 million in FY25, up from ₹5,254.28 million in FY24.

iv) Branch Network: Expanded from 119 branches in FY23 to 158 branches in FY25.

Funding Sources

Laxmi Finance maintains diversified funding sources from 47 lenders, including public and private sector banks, small finance banks, and other financial institutions. The company utilizes term loans, non-convertible debentures (NCDs), and other debt instruments.

Growth and Market Penetration

Laxmi Finance has a strong presence in rural and semi-urban regions, where it benefits from the rising credit demand and financial inclusion initiatives. The company’s operations are expanding as it taps into new markets, offering last-mile coverage for financial services.

Strengths:

i) Focus on MSME Financing
ii) Diversified Funding Sources
iii) Technology-Driven Operations
iv) Strategic Regional Penetration
v) Experienced Management Team

Objects of the Laxmi India Finance Limited IPO:

The Company proposes to utilise the Net Proceeds from the Issue towards: 1. Augmentation of our capital base to meet our future capital requirements towards onward lending (₹177 crore)
DRHP of Laxmi India Finance Limited IPO
RHP of Laxmi India Finance Limited IPO

Laxmi India Finance Limited IPO Details:

Open Date: Jul 29 2025
Close Date: Jul 31 2025
Total Shares: 1,60,92,195
Face Value: ₹ 5 Per Equity Share
Issue Type: Book Building
Issue Size: 254.26 Cr.
Lot Size: 94 Shares
Issue Price: ₹ 150-158 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

1. Deepak Baid is the Managing Director of the Company. He holds a bachelor’s degree in commerce from the University of Rajasthan. He has been with the Company since February 4, 2011, and brings over 20 years of experience in the finance industry. 2. Prem Devi Baid serves as the Whole Time Director of the Company. She has completed the secondary school examination and has been with the Company since February 4, 2011. She has over 14 years of experience with the Company. 3. Aneesha Baid is the Whole Time Director of the Company. She holds a bachelor’s degree in commerce from the University of Bangalore. She has been associated with the Company since December 31, 2016, and has over 9 years of experience. She is responsible for human resource management and was previously a director with Trilochana Dealtrade Private Limited.

Financials of Laxmi India Finance Limited IPO: 

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Laxmi India Finance Limited IPO:

  1. PL Capital Markets Private Limited

Registrar of Laxmi India Finance Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on Laxmi India Finance Limited IPO:

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