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The rating agency for this Bond is ACUITE.
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Laxmi India Finance Jun '27
₹33,662.81YTM
10.80%Tenure left
10 monthsInterest payout
MonthlyPrincipal payout
QuarterlyBond details
Minimum investment₹33,662.81
Date of maturity28 Jun 2027
ISININE06WU07064
Bond typeSecured
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About
Laxmi India Finance Private Limited (LIFPL), formerly known as Laxmi India Finleasecap Private Limited, is a Jaipur-based company registered as a non-deposit-taking NBFC with the Reserve Bank of India (RBI). Led by Mr. Deepak Baid and Mrs. Prem Devi Baid, the company commenced its current operational form in April 2011 following its merger with Deepak Finance & Leasing Company. LIFPL primarily engages in vehicle financing (initially focused on 3-wheeler and 4-wheeler commercial and non-commercial vehicles), micro, small, and medium enterprise (MSME) loans, loans against property (LAP), and unsecured personal and business loans. As of March 31, 2024, the company operates through a network of 135 branches spread across Rajasthan, Gujarat, Madhya Pradesh, and Chhattisgarh.;
Pros and Cons
Pros
Cons
The company benefits from the extensive, established track record of its promoters and directors, under whose guidance the overall Assets Under Management (AUM) expanded from Rs. 686.77 crore in March 2023 to Rs. 961.37 crore as of March 31, 2024.
LIFPL maintains a diversified, strong lender base consisting of private and public sector banks, financial institutions, and large NBFCs, allowing it to disburse Rs. 525.40 crore in term loans during FY2024.
The financial structure demonstrates a healthy resource-raising ability, highlighted by its proven capacity to secure Rs. ~415 crore of fresh term loan debt during FY24
Capitalization levels remain adequate, supported by an overall Capital Adequacy Ratio (CAR) of 21.88 percent (Tier 1 capital at 21.01 percent) and steady equity infusions from promoters, including Rs. ~27 crore during FY24.
Despite sector-wide MSME lending challenges, the company preserves comfortable asset quality with an on-time portfolio rate of 93.10 percent and a low Gross Non-Performing Asset (GNPA) ratio of 0.72 percent as of March 31, 2024.
Other details
Clean price₹33,526.40
Dirty price₹33,662.80
Current yield11.42%
Security cover1.10X of POS
Issue size2.00Cr
Original bond tenure36 months
TrusteeIDBI Trusteeship Services Limited
Mode of issueNCD
Listed onNSE
Listing date27 Jun 2024
Coupon rate11.49%
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