Laxmi India Finance Limited, originally incorporated in 1996, is a non-deposit-taking Non-Banking Financial Company (NBFC) categorized as NBFC-Middle Layer, with a focus on financing Micro, Small, and Medium Enterprises (MSMEs) and vehicle loans. The company primarily serves diverse financial needs such as MSME loans, vehicle loans, construction loans, and other lending products, contributing to economic growth and financial inclusion. Over 80% of its MSME loans qualify as Priority Sector Lending under RBI guidelines, highlighting its alignment with India's development objectives.
Initially established as Deepak Finance & Leasing Company, the business underwent consolidation in 2011 under its promoter and integrated MSME lending into its operations. Laxmi India Finance expanded geographically by launching branches in Gujarat (2019) and Madhya Pradesh (2020), while adding construction loans in 2017. The company reported significant growth in its Asset Under Management (AUM), increasing from Rs. 5,316.02 million in March 2022 to Rs. 10,355.35 million in June 2024. MSME and vehicle loans accounted for the majority of its AUM, contributing 75.49% and 17.46%, respectively, as of June 30, 2024.
Operating through 139 branches spread across rural, semi-urban, and urban regions in Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh, Laxmi India Finance has built a strong presence across diverse markets. With its business model targeting underserved segments, it has positioned itself as a critical player in MSME financing.
To further fuel its growth, the company is planning an Initial Public Offer (IPO) comprising up to 16,092,195 equity shares, with 10,453,575 as fresh issues and the remaining offered through sales. This IPO aims to strengthen its financial base and support future expansion initiatives. Laxmi India Finance's proven track record and robust operational performance make it a notable candidate for investment consideration.
