Laxmi India Finance IPO allotment status: Check application, latest GMP & listing date

Laxmi India Finance is scheduled to finalize the basis of allotment of its shares on Friday, August 01. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by weekend or latest by Monday, August 04. The financial services provider saw a muted response from the investors.

The IPO of Laxmi India Finance was open for bidding between July 29 and July 31. It had offered its shares in the price band of Rs 150-158 per share with a lot size of 94 shares. The company raised a total of Rs 254.26 crore from its IPO, which included a fresh share sale of Rs 165.17 crore and an offer-for-sale (OFS) of up to Rs 89.09 crore.

The issue was overall subscribed only 1.84 times, fetching more than 1.15 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 1.30 times. The allocation for non-institutional investors (NIIs) was booked 1.84 times. The portions for retail investors and employees were subscribed 2.22 times and 1.57 times, respectively.

The grey market premium (GMP) of Laxmi India Finance has seen a sharp correction following muted bidding and volatile market sentiments. Last heard, the company was commanding a premium of Rs 0-2 per share in the unofficial market, suggesting a muted listing of up to 2 per cent to the investors. The GMP stood around Rs 15, when the issue had opened for bidding.

Incorporated in 1996, Laxmi India Finance is engaged in the business of offering MSME loans, vehicle loans, construction loans, and other lending products, supporting small businesses and entrepreneurs, with over 80 per cent of MSME loans qualifying as priority sector lending.

PL Capital Markets is the book-running lead manager of the Laxmi India Finance IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Tuesday, August 5. Investors, who had bid for the issue of Laxmi India Finance , can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Laxmi India Finance Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.