Laxmi India Finance Limited - IPO

Incorporated in 1996, Laxmi India Finance Limited is engaged in the business of Non Banking Financial Company.

The company offers MSME loans, vehicle loans, construction loans, and other lending products, supporting small businesses and entrepreneurs, with over 80% of MSME loans qualifying as Priority Sector Lending.

As of June 30, 2024, the company has 26,065 customers, including 15,732 active MSME and 6,146 active vehicle loan customers, reflecting a 78.92% growth from 14,568 customers on March 31, 2022.

As of June 30, 2024, the company accesses funds from 43 lenders, including banks and financial institutions, through instruments like term loans, NCDs, working capital loans, and overdrafts against fixed deposits.

As of September 30, 2024, the company’s centralized, tech-enabled collections team of 255 tracks repayments, loan defaults, and overdue payments in real-time through a dedicated collections app across all business verticals.

As of September 30, 2024, the company operates 139 branches across Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh, with the highest number of branches in Rajasthan among its peers.

Offerings:

• MSME Finance: The company provides secured loans against residential or commercial property for MSMEs, with loan amounts ranging from ₹0.05 million to ₹2.5 million, an LTV ratio of 65%, and tenure up to 84 months.
• Vehicle Finance:The company offers secured vehicle loans for personal and commercial use, including financing for commercial vehicles (up to ₹1.5 million), two-wheelers (up to ₹0.15 million), and tractors (up to ₹0.7 million).
• Construction Loans: The company offers secured loans to retail customers against residential or commercial property for construction or renovation, with loan amounts up to ₹2.5 million, interest rates between 18%-28%, and a tenure of up to 84 months.

As of September 30, 2024, the company has 1252 employees.