Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Indore-based infrastructure company Laxyo Ltd has filed draft papers with Securities and Exchange Board of India to raise INR 150 crore through an IPO. The issue will be entirely fresh equity with no OFS component. A significant portion of the proceeds will go towards debt repayment, equipment purchase, and working capital needs. The company, which operates across multiple sectors including railway infrastructure and mining, has also entered the African market with a new project in Zambia, marking a key step in its global expansion strategy.
Indore-based railway infrastructure and EPC services firm Laxyo Ltd has filed its draft red herring prospectus with the Securities and Exchange Board of India to raise INR 150 crore through an initial public offering. Advertisement
The proposed IPO will consist entirely of a fresh issue of equity shares, with no offer-for-sale component included. This indicates that the company will directly receive the full proceeds from the issue, which will be used to strengthen its financial position and support operational growth.
As per the filing, around INR 70 crore will be allocated towards repayment or prepayment of existing debt. Another INR 9.75 crore is planned for the purchase of equipment, while approximately INR 23 crore will be used to meet working capital requirements. The remaining funds will be utilised for general corporate purposes.
The company has also indicated that it may explore a pre-IPO placement of up to INR 30 crore. If completed, this could reduce the size of the fresh issue.
Established in 2007, Laxyo began as an integrated Engineering, Procurement and Construction (EPC) company and has since diversified into multiple verticals including railway infrastructure, mining services, raise boring operations, and dredging and reclamation. Raise boring, a technique used in mining, involves mechanically cutting rock using a rotating machine instead of explosives, offering a safer and more controlled alternative.
Over the years, the company has expanded its presence across several Indian states including Madhya Pradesh, Maharashtra, Rajasthan, Gujarat, Haryana, Odisha, Delhi, Kerala, Uttar Pradesh, and Goa. Its order book stood at around INR 633 crore as of early 2026, reflecting a steady pipeline of ongoing and upcoming projects.
In a recent development, Laxyo secured a project in Zambia, marking its entry into the African market. With this move, the company is expected to compete with established global players such as Master Drilling, Murray & Roberts, and Redpath, indicating its ambition to scale operations beyond India.
On the financial side, the company reported revenue from operations of INR 212.7 crore and a profit after tax of INR 11 crore for FY25, showing moderate profitability alongside its expansion efforts.
Indorient Financial Services has been appointed as the sole book-running lead manager for the issue.
Source PTI
FAQ
Q1: What is Laxyo Ltd planning through its IPO?
Indore-based Laxyo Ltd is planning to raise INR 150 crore through an initial public offering to support its growth plans, including strengthening its balance sheet, repaying debt, and funding operational and expansion requirements.
Q2: Will the IPO include an offer-for-sale (OFS) component?
No, the IPO consists entirely of a fresh issue of equity shares, which means the funds raised will go directly to the company rather than existing shareholders selling their stakes.
Q3: How will the IPO proceeds be utilised?
A major portion of around INR 70 crore will be used for repayment or prepayment of existing debt, INR 9.75 crore will be allocated for purchasing equipment, INR 23 crore will go towards working capital needs, and the remaining funds will be used for general corporate purposes.
Q4: Is the company planning any pre-IPO fundraising?
Yes, the company may consider a pre-IPO placement of up to INR 30 crore, which could reduce the size of the fresh issue depending on how much capital is raised before the public offering.
Q5: What business segments does Laxyo operate in?
Laxyo operates across multiple segments including railway infrastructure, EPC services, mining services, raise boring operations, and dredging and reclamation, allowing it to participate in a wide range of infrastructure-related projects.
Q6: Has the company expanded beyond India?
Yes, the company has recently entered the African market by securing a project in Zambia, which marks an important step in its international expansion strategy and reflects its intent to compete in global markets.
Q7: What are the company's recent financial and order book details?
The company reported revenue of INR 212.7 crore and a profit after tax of INR 11 crore for FY25, while its order book stood at around INR 633 crore as of early 2026, indicating a steady pipeline of ongoing and upcoming projects.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
