Labh Pancham also known as Laakheni Panchmi or Saubhaagya Panchmi is a highly auspicious day celebrated in Gujarat and the day formally ends the Diwali celebrations.
Labh Pancham is celebrated on the fifth day of the shukla paksha (bright phase) of the Hindu lunar month Kartik .i.e, five days after the Diwali day.
In Gujarati language, the word ‘Labh’ means benefit and hence on this day people usually wish for material ‘labh’ such as: a good job, good in-laws, riches and so forth. It is believed that works or activities started on Labh Panchami will go ahead successfully without any obstacles.
Jain community celebrates this day as Gyan Panchami and they worship their books and pray to Goddess Saraswati to gain more knowledge.
On this day Gujarati’s commence business after worshiping Goddess Lakshmi and open their new accounts. Those who have not performed Sharda Pujan or Chopda Pujan on Diwali, perform pujan of their new ledgers today and ritually open their shops and businesses.
In 2016, Labh Pancham will be celebrated on Saturday, 5th November 2016.