Railway infrastructure and EPC services provider Laxyo Ltd has filed preliminary papers with markets regulator SEBI to raise ₹150 crore through an Initial Public Offering (IPO).
The IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.
The Indore-headquartered company intends to utilise the proceeds to the tune of ₹70 crore for debt payment, ₹9.75 crore for the purchase of equipment and ₹23 crore to support working capital requirements and the remaining funds will be allocated for general corporate purposes.
The company may consider a Pre-IPO placement of up to ₹30 crore.
Founded as an integrated Engineering, Procurement and Construction (EPC) player, Laxyo commenced operations in 2007 and currently operates across railway infrastructure, mining services and raise boring operations, dredging and reclamation.
Raise boring is a safe, mechanical method used in mining. Instead of using explosives to break rock, it uses a large, rotating machine that “bores” or cuts the rock away to create a smooth hole.
The company has a presence across Madhya Pradesh, Maharashtra, Rajasthan, Gujarat, Haryana, Odisha, Delhi, Kerala, Uttar Pradesh and Goa.
As of January 2026, its order book value was recorded at ₹633 crore.
On the financial front, the company’s revenue from operations stood at ₹212.7 crore and profit after tax of ₹11 crore in FY25.
Indorient Financial Services is acting as the sole book running lead manager to the issue.