The IPO is a fresh issue of equity shares without an outright for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Monday.
The Indore-headquartered company has set aside Rs. 70 crore, for purchase of equipment Rs. 9.75 crore and to support working capital requirements of Rs. 23 crore from the proceeds and the remaining funds will be earmarked for general corporate purposes.
Company Rs. 30 crore may consider pre-IPO placement.
Established as an integrated engineering, procurement and construction (EPC) player, Laxyo commenced operations in 2007 and currently operates across railway infrastructure, mining services and boring operations, dredging and reclamation.
Rise boring is a safe, mechanical method used in mining. Instead of using explosives to break up the rock, it uses a large, rotating machine that “bores,” or cuts, the rock to create a smooth hole.
The company has presence in 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 crores.
Recently, Laxyo secured a contract in Zambia, marking its entry into African markets where it will compete with global players such as Master Drilling, Murray & Roberts and Redpath.
On the financial front, the company’s revenue from operations stood at Rs. 212.7 crore and in FY25 was Rs. 11 crore was the profit after tax.
Indorient Financial Services is acting as sole book running lead manager for the issue.
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