Laxmi India Finance's shares list with 14% discount at Rs 136 against issue price of Rs 158

New Delhi: Shares of NBFC player Laxmi India Finance on Tuesday listed with a discount of 14 per cent against the issue price of Rs 158.

The stock started listed at Rs 136, a decline of 13.92 per cent discount from the issue price on the BSE. Later, it pared some of its early losses to trade at Rs 140 apiece on the exchange.

On the NSE, it fell 12.96 per cent to Rs 137.52 in the initial trade. Later, it trimmed some of its losses to trade at Rs 140.40.

The company's market valuation stood at Rs 741.42 crore on the NSE.

The IPO of NBFC player Laxmi India Finance got subscribed 1.85 times on the closing day of the share sale on Thursday. Prior to that, Laxmi India Finance said that it had raised over Rs 75 crore from anchor investors.

The issue has a price band of Rs 150-158 per share.

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.