Laxmi India Finance's IPO: A Major Leap in NBFC Industry
Laxmi India Finance Ltd, a Jaipur-based NBFC, raised over Rs 75 crore from anchor investors before its IPO launch. The IPO consists of fresh issues and an offer for sale, aiming to raise Rs 254.26 crore. The proceeds will enhance the capital base and support future lending activities.
- Country:
- India
On Monday, Laxmi India Finance Ltd successfully raised over Rs 75 crore from anchor investors, setting the stage for its impending public IPO. This strategic move attracted institutional investors like Saint Capital Fund, BNP Paribas Financial Markets, and others, marking a significant milestone for the Jaipur-based NBFC.
The IPO, featuring a price band between Rs 150-158 per share, is scheduled to open for subscription on July 29, concluding on July 31. The offering combines a fresh issue of 1.84 crore equity shares and a promoter-driven sale of 56.38 lakh shares, aiming to raise Rs 254.26 crore in total.
Laxmi India Finance, a prominent non-deposit-taking NBFC, plans to utilize the proceeds to bolster its capital base, ensuring future lending capacity and supporting its expansive portfolio. With a robust AUM growth and increased operational revenues, the company is poised for significant growth in the near future.
(With inputs from agencies.)
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