Mumbai41 minutes ago
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Jaipur based non-banking financial company, Lakshmi India Finance Limited has filed a draft red herring prospectus (DRHP) with market regulator SEBI to raise funds through an IPO.
For this initial public offer, the company will issue 1,04,53,575 fresh shares of face value of Rs 5 each. At the same time, the existing investors of the company will sell 56,38,620 equity shares through Offer for Sale i.e. OFS. Approval is still pending from SEBI.
The company will use the funds for giving loans and general corporate purposes.
Existing shareholders Deepak Baid 3,084,952 shares, Prem Devi Baid 913,070 shares, Anisha Baid 1,261,902 shares, Deepak Hitech Motors 180,000 shares, Prem Dealers Pvt Ltd 90,000 shares, Preeti Chopra 54,348 shares and Rashmi Giriya 54,348 shares through the offer for sale. Will sell. At the same time, the company will use the funds raised through fresh issue for giving loans and general corporate purposes in future.
Lakshmi India Finance is a non-deposit-taking NBFC.
Lakshmi India Finance is a non-deposit-taking NBFC that specializes in meeting the financial needs of the underserved segment in India’s lending market. The company is linked to Deepak Finance and Leasing Company (DFL), which was founded by the promoter’s father in the early 1990s.
In 2010, the promoter acquired the company’s shares, followed by integration of DFL’s business and operations in 2011. The NBFC offers a diverse product portfolio including MSME loans, vehicle loans, construction loans and other lending solutions to meet the diverse financial requirements of its customers.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.