Laxmi India Finance IPO: Check IPO Date, Live Subscription and Key Details
Laxmi India Finance Limited (LIFC), incorporated in 1996 and headquartered in Jaipur, Rajasthan, is a non-deposit taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). The company specializes in providing secured financing solutions to underserved segments, particularly in semi-urban and rural regions across Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh. LIFC's core product portfolio includes MSME (Micro, Small and Medium Enterprises) Finance (secured loans against property for business expansion and working capital), Vehicle Finance (secured loans for commercial vehicles, used personal vehicles, used tractors, 2-wheelers, and electric 2- and 3-wheelers), and Construction Loans (secured loans to retail customers for purchasing, constructing, or renovating residential properties).
Key Metrics
Check Live GMP
Timeline
IPO Opens
29 Jul
IPO Closes
31 Jul
Allotment
1 Aug
Listing
5 Aug
IPO Objectives
- Augmentation of the capital base to meet the future capital requirements towards onward lending.
- General corporate purposes.
Strengths
- Key focus on MSME financing, which constitutes a significant portion of the company’s AUM (76.34% in FY25) and revenue, aligning with the growing demand for formal credit in this sector.
- Access to diversified sources of capital and efficient utilization, with relationships with 47 lenders and an average cost of borrowing declining from 12.24% in FY23 to 12.02% in FY25.
- Comprehensive credit assessment, underwriting, and risk management framework, including on-site inspections, collateral verification, and a co-borrower/guarantor model, contributing to robust asset quality (GNPA of 1.07% and NNPA of 0.48% in FY25).
- Deeper regional penetration in semi-urban and rural areas of Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh through a network of 158 branches, reaching underserved segments.
- Strong growth in AUM (36.36% CAGR from FY23 to FY25) and consistent increase in revenue (42% in FY25) and profit after tax (60% in FY25).
Weaknesses
- High debt-to-equity ratio of 4.42 (FY25), indicating significant financial leverage, which could lead to higher interest costs and impact profitability, despite proceeds from the fresh issue being used to augment the capital base.
- Asset quality deterioration: While still comfortable, GNPA increased from 0.72% in FY24 to 1.07% in FY25 and NNPA from 0.33% to 0.48% in the same period, indicating a slight decline.
- Geographical concentration: A significant majority of its AUM and branches are located in Rajasthan, exposing the company to regional economic downturns or adverse policy changes.
- Exposure to low-income borrowers and first-time borrowers (37.10% of customer base in FY25) may lead to higher credit risk, especially during economic downturns, as these segments are more vulnerable to income disruption.
- Concentration on MSME and vehicle finance segments: While a strength, over-dependence on these segments may limit diversification in case of sector-specific slowdowns.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 1412.52 | 984.85 | 778.71 |
| Revenue (₹ Cr.) | 248.04 | 175.02 | 130.67 |
| PAT (₹ Cr.) | 36.01 | 22.47 | 15.97 |
| Net Worth (₹ Cr.) | 257.47 | 201.22 | 152.33 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Laxmi India Finance | 2.57 | 22.94 | 13.95 | 257.47 |
| Mas Financial Services Ltd | 2.22 | 17.99 | 11.83 | 1769 |
| Five Star Business Finance | 3.13 | 18.42 | 17.01 | 5196 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.10x | 0.45x | 1.30x |
| NII | 0.19x | 0.52x | 1.83x |
| S-HNI | 0.38x | 0.80x | 1.87x |
| B-HNI | 0.10x | 0.38x | 1.82x |
| RII | 0.61x | 1.29x | 2.20x |
| EMP | 0.41x | 1.02x | 1.54x |
| Total | 0.37x | 0.89x | 1.86x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 31,86,253 | 41,36,940 | 65.36 |
| NII | 23,89,690 | 43,81,904 | 69.23 |
| Small NII | 7,96,563 | 14,87,550 | 23.50 |
| Big NII | 15,93,127 | 28,94,354 | 45.73 |
| RII | 55,75,943 | 1,22,45,004 | 193.47 |
| EMP | 1,60,928 | 2,47,408 | 3.91 |
| Total | 1,13,12,814 | 2,10,11,256 | 331.98 |
Company Details
- 2 DFL, Gopinath Marg, MI Road, Jaipur, Rajasthan-302001
- +91 9773376198
- investors@lifc.in
- http://www.lifc.co.in/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- laxmifinance.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html