New Delhi, Jul 29 (PTI) The initial share sale of NBFC player Laxmi India Finance Ltd received 37 per cent subscription on the first day of bidding on Tuesday.
The initial public offer (IPO) got bids for 42,06,782 shares against 1,13,12,816 shares on offer, as per NSE data.
Retail Individual Investors (RIIs) category received 60 per cent subscription while the quota for non-institutional investors attracted 19 per cent subscription. The Qualified Institutional Buyers (QIBs) portion got covered 10 per cent.
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 July 31.
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.