Laxmi India Files Draft Papers

New Delhi: NBFC player Laxmi India Finance Ltd has filed draft papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).The Jaipur-based company’s pro-posed IPO is a combination of a fresh issue of 1.04 crore shares and an offer for sale (OFS) of 56.38 lakh shares by promoters, according to the draft red herring prospectus (DRHP).

As per the draft papers filed last week, proceeds from the fresh would be used to shore up its capital base to meet future capital requirements towards onward lending and for general corporate purposes. Laxmi India Finance, a non-deposit-taking NBFC, offers a diverse product portfolio, including MSME loans, vehicle loans, construction loans, and other lending solutions to customers.

As of June 2024, the NBFC had an asset under management (AUM) of Rs 1,035.53 crore, with MSME and vehicle loans contributing 75.49 per cent and 17.46 per cent respectively. Its operational network encompassed 139 branches across Rajasthan, Gujarat, Madhya Pradesh, and Chhattis-garh as of September 30, 2024.