Day 2 of IPO: Laxmi India Finance share sale subscribed 88 pc

New Delhi, Jul 30 (PTI) The initial public offer of NBFC player Laxmi India Finance Ltd got subscribed 88 per cent on the second day of the share sale on Wednesday.

The initial share sale received bids for 99,71,708 shares against 1,13,12,816 shares on offer, according to NSE data.

Retail Individual Investors (RIIs) quota got subscribed 1.28 times. The category for non-institutional investors received 52 per cent subscription while the portion for Qualified Institutional Buyers (QIBs) fetched 45 per cent subscription.

Laxmi India Finance Ltd on Monday raised over Rs 75 crore from anchor investors.

The issue, with a price band of Rs 150-158 per share, will conclude on Thursday.

The Jaipur-based company's IPO is a combination of fresh issue of 1.04 crore equity shares and an offer for sale of 56.38 lakh shares by promoters. Overall, the IPO size is pegged at Rs 254.26 crore at the upper end of the price band.

Proceeds from the fresh issue will 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 (micro, small and medium enterprises) loans, vehicle loans, construction loans, and other lending solutions to customers.

Its operational network spans across 158 branches in rural, semi-urban and urban areas in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh as of March 2025.

PL Capital Markets is the sole book-running lead manager to the IPO. PTI SUM SUM MR