Laxyo Ltd has filed draft papers with Securities and Exchange Board of India to raise Rs. 150 crore through an Initial Public Offering (IPO). The issue, comprising entirely fresh equity shares, signals the company’s intent to deleverage its balance sheet and fund operational expansion. Proceeds will be allocated toward debt reduction, equipment acquisition, and working capital needs, with a portion reserved for general corporate purposes. The Indore-based firm may also pursue a pre-IPO placement of up to Rs.