Rating
The rating of an issuer company reflects its past growth and performance. The rating increases when the company consistently performs well and decreases when it is not performing well.
The rating agency for this Bond is ACUITE.
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Laxmi India Finance Limited Sep '29
₹9,955.29YTM
11.20%Tenure left
35 monthsInterest payout
MonthlyPrincipal payout
QuarterlyBond details
Minimum investment₹9,955.29
Date of maturity02 Sep 2029
ISININE06WU07098
Bond typeSecured
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About
Laxmi India Finance Limited (LIFL), formerly known as Laxmi India Finance Private Limited, is a Jaipur-based non-deposit-taking NBFC registered with the RBI, incorporated in 1996. The company commenced operations in April 2011 upon its merger with Deepak Finance & Leasing Company, initially financing commercial and non-commercial vehicles in Jaipur before expanding into MSME loans, loans against property (LAP), and unsecured personal/business loans across rural and semi-urban areas. Promoted and led by Managing Director Mr. Deepak Baid alongside Mrs. Aneesha Baid and Mrs. Prem Devi Baid, LIFL operates a network of 170 branches across five states: Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh. As of December 31, 2025, the company managed an Assets Under Management (AUM) portfolio of Rs. 1,451.10 crore.;
Pros and Cons
Pros
Cons
Acuité upgraded LIFL's long-term rating to ACUITE A/Stable, driven by sustained business expansion and an AUM CAGR exceeding 25% over the past three financial years to reach Rs. 1,451.10 crore as of December 31, 2025.
The company benefits from the established track record and leadership of its promoters, who possess over two decades of domain experience in the financial services industry.
Capitalization has been significantly bolstered following an IPO that infused ~Rs. 165 crore, increasing net worth to Rs. 445.17 crore, improving CAR to 28.40%, and reducing debt-to-equity gearing to 2.69 times as of December 31, 2025.
The entity demonstrates strong fund-mobilization capability across diverse banks and FIs, successfully raising Rs. 423.50 crore in fresh term loans and NCDs during 9MFY26.
Profitability risk from the defaulted Up Money Limited Direct Assignment (DA) pool is mitigated by proactive 60% provisioning (~Rs. 11 crore) on the Rs. 19 crore exposure alongside legal proceedings to recover dues.
Other details
Clean price₹9,975.43
Dirty price₹9,955.29
Current yield10.53%
Security cover1.10X of POS
Issue sizeNA
Original bond tenure36 months
TrusteeMitcon Trusteeship Services Limited
Mode of issueNCD
Listed onNSE
Listing date02 Sep 2026
Coupon rate10.50%
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