Laxmi India Finance Shares List at 14% Discount to IPO Price
Laxmi India Finance, a Rajasthan-based NBFC, listed on BSE at ₹136.00 and NSE at ₹137.52, 14.00% and 12.96% below its IPO price of ₹158.00 respectively. The IPO raised ₹254.26 crore with 1.86 times overall subscription. The company operates across five states with 158 branches and has shown significant financial growth, with revenues increasing by 90% from FY23 to FY25.

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Laxmi India Finance, a Rajasthan-based non-banking financial company (NBFC), made its stock market debut with a disappointing performance, falling short of investor expectations. The company's shares opened significantly below the initial public offering (IPO) price on both major Indian stock exchanges.
Listing Details
The stock commenced trading at ₹136.00 on the Bombay Stock Exchange (BSE) and ₹137.52 on the National Stock Exchange (NSE). These opening prices represented discounts of 14.00% and 12.96% respectively from the IPO price of ₹158.00 per share.
IPO Performance
The initial public offering of Laxmi India Finance raised ₹254.26 crore and saw an overall subscription of 1.86 times. Notably, retail investors showed strong interest, with their portion being subscribed 2.20 times. The IPO consisted of:
- A fresh issue of shares worth ₹165.17 crore
- An offer-for-sale (OFS) component of ₹89.09 crore
Market Expectations vs. Reality
The listing price came as a disappointment to many investors, as the grey market had indicated a more positive outlook. Prior to the listing, shares of Laxmi India Finance were trading at a 2% premium in the grey market, creating expectations of a stronger debut.
Company Overview
Laxmi India Finance operates as an NBFC with a focus on providing financial solutions to underserved segments of the market. The company has established a significant presence across five states, operating through 158 branches.
Financial Performance
The company has demonstrated notable financial improvements:
Metric | FY23 | FY25 | Growth |
---|---|---|---|
Net Worth (₹ in crore) | 152.00 | 257.00 | 69.00% |
Revenues (₹ in crore) | 129.50 | 245.70 | 90.00% |
This substantial growth in both net worth and revenues showcases the company's expanding operations and market presence.
Despite the positive financial trajectory, the lukewarm market debut highlights the challenges faced by new listings in the current economic environment. Investors and market analysts will be closely watching Laxmi India Finance's performance in the coming weeks to gauge its potential for long-term growth and stability in the competitive NBFC sector.