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NBFC Laxmi India Finance files draft papers to raise funds via IPO


Published on 2024-12-18 05:41:00 - moneycontrol.com
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  • The public issue comprises fresh issue of 1.04 crore equity shares, and an offer-for-sale of 56.38 lakh shares by promoters

Laxmi India Finance, a non-banking financial company (NBFC), has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth up to Rs 50 crore and an offer for sale (OFS) of up to 1.8 crore equity shares by the promoter, Laxmi India Finleasecap Pvt Ltd. The funds raised from the fresh issue are intended for augmenting the company's capital base to meet future business requirements. The company, which focuses on providing loans against property, gold, and personal loans, aims to expand its operations and enhance its financial stability through this public offering. The draft red herring prospectus (DRHP) was filed on May 10, 2024, and the IPO is expected to help the company in scaling up its lending activities and improving its market presence.

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