MSME Focused NBFC Laxmi India Finance To Tap IPO

ENA MSME 2024-12-20 15:39:20 Jaipur, Dec 20 (KNN) Non-banking financial institution Laxmi India Finance Limited has initiated its journey toward public listing by submitting a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The Jaipur-based company specialises in providing financial services to underserved segments of India's lending market. The company's history dates back to the early 1990s when it began as Deepak Finance & Leasing Company (DFL), established as a sole proprietorship by the founder's father. A significant transformation occurred in 2010 when the current promoter acquired the company's shares and control, leading to the integration of DFL's operations in 2011, which enhanced the organisation's overall capabilities. Laxmi India Finance has developed a comprehensive portfolio of financial products, including MSME loans, vehicle financing, construction loans, and other financing solutions. Notably, more than 80% of its MSME loan offerings qualify as Priority Sector Lending under Reserve Bank of India guidelines, demonstrating the company's commitment to fostering economic growth through support for small businesses and entrepreneurs. According to recent financial data, as of June 30, 2024, the company reported Assets Under Management (AUM) of Rs 1,035.53 crore. The loan portfolio distribution shows a significant concentration in MSME loans, accounting for 75.49 per cent of total AUM, while vehicle loans comprise 17.46 per cent of the portfolio. (KNN Bureau) 40331 https://knnindia.co.in/news/newsdetails/msme/msme-focused-nbfc-laxmi-india-finance-to-tap-ipo 2024-12-20 15:39:20 knnindia.co.in MSME Focused NBFC Laxmi India Finance To Tap IPO