Laxmi India Finance's shares listed at a 14% discount to their issue price, signaling a weak debut on the stock market.
The underwhelming listing reflects muted investor sentiment toward NBFCs in the current market environment.
Laxmi India Finance Shares Make Weak Market Debut, List at 14% Discount
The NBFC's stock opened below issue price amid cautious investor sentiment.
Laxmi India Finance Shares
Summary
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Shares of NBFC player Laxmi India Finance on Tuesday listed with a discount of 14% against the issue price of ₹158.
The stock started listed at ₹136, a decline of 13.92% discount from the issue price on the BSE. Later, it pared some of its early losses to trade at ₹140 apiece on the exchange.
On the NSE, it fell 12.96% to ₹137.52 in the initial trade. Later, it trimmed some of its losses to trade at ₹140.40.
The company's market valuation stood at ₹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 ₹75 crore from anchor investors.
The issue has a price band of ₹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 ₹254.26 crore at the upper end of the price band.
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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
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