Varalakshmi Vratham (Varmahalakshmi Puja) is widely observed in Kerala. In 2018, Varalakshmi Vratham in Kerala is on August 31.
It is widely observed in Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, Orissa, and many other parts of North India. It was on August 24 in these states.
Varalakshmi is an aspect or form of Goddess Lakshmi. Varalakshmi Vrat Katha or the story or legend associated with it is mentioned in Bhavishya Purana as a conversation between Sage Sootha and his disciples. As per the legend, Lord Shiva told the importance of Varalakshmi Vrata to Goddess Parvati.