Laxmi India Finance IPO Opens For Subscription, Know Lot Size, GMP & Full Details

Key Highlights:

- Rs 254.26 crore with fresh issue and OFS.

- Grey market premium is Rs 9, listing may be at Rs 167.

- Minimum investment of Rs 14,100 for 94 shares.

Mumbai: Laxmi India Finance Limited's Initial Public Offering (IPO) has opened for public subscription starting today, July 29. Investors can apply for shares till July 31.

How Much is the IPO Worth?

The total size of this IPO is Rs 254.26 crore. Out of this, the company will issue 1.84 crore new shares, and 56.38 lakh shares will be sold by existing shareholders through Offer for Sale (OFS).

Anchor Investment Before Launch

Just before the IPO opened, the company raised over Rs 75 crore from anchor investors on Monday.

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What is GMP (Grey Market Premium)?

Currently, the shares are trading at a Rs 9 premium in the grey market. This suggests a likely listing price of around Rs 167, which is 5.70% higher than the upper price band. Earlier, the GMP was Rs 18, so there's been a drop before opening.

Minimum Investment Requirement

To invest in this IPO, you need to apply for at least one lot, which has 94 shares. At the issue price, the minimum amount needed is Rs 14,100.

Use of Funds

The company will use the IPO funds to strengthen capital, grow lending operations, and for general corporate purposes.

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IPO Allotment and Listing Date

The share allotment is likely to happen on August 1, and listing is expected on August 5. Shares will be listed on both NSE and BSE.

Who is Managing the IPO?

The lead manager for this IPO is PL Capital Markets Pvt Ltd, and MUFG Intime India Pvt Ltd (Link Intime) is the registrar.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always consult a certified financial advisor before making investment decisions. IPO investments are subject to market risks and regulatory guidelines.