Lakshya Powertech IPO Allotment To Be Out Soon: Check GMP And Steps To Verify Status

The initial public offer of Lakshya Powertech Ltd. was subscribed 573.36 times on the final day of the bidding on Friday, led by demand from non-institutional buyers.

According to NSE data, the Rs 49.91-crore IPO received bids for 1,08,31,63,200 shares against the 7,25,520 shares on offer.

The demand was led by Non-Institutional Buyers (QIBs) who bid for 1,117.75 times the shares earmarked for them. The portion meant for Qualified Institutions was subscribed 212.18 times, whereas Retail Individual Investors (RIIs) subscriptions stood at 590.26 times.

The SME IPO had already witnessed remarkable interest from investors as the issue was subscribed more than 160 times on Day 2 and more than 60 times on Day 1.

The allotment for the Lakshya Powertech IPO will be finalised on Monday, October 21. The company's shares will be listed on NSE SME (Emerge) on Wednesday, October 23.

On October 22, Lakshya Powertech Ltd. shares will be credited to the Demat accounts of successful bidders. Refunds for the non-allottees will also be initiated on the same day.

Investors can check the Lakshya Powertech IPO allotment status on Kfin Technologies Ltd., the registrar for the issue.

• Visit the IPO allotment page on the KFin Technologies website here.

• Select any one link to check your IPO Allotment Status.

• Choose 'Lakshya Powertech Limited' from the list of IPOs listed in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either of Application Number, Demat Account or PAN to verify your allotment status.

• Enter the required information, i.e. your application number, PAN (Permanent Account Number) or Demat Account number.

• Enter the 'captcha' to verify that you are not a robot.

• Finally, click the 'Submit' button to check your allotment status.

The grey market premium for the Lakshya Powertech IPO was Rs 190 as of 5:00 p.m. on October 21, indicating a listing premium of 105.56% over the issue price. As per InvestorGain, shares of Lakshya Powertech could list at around Rs 370 apiece compared to the upper price band of Rs 180.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

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The company aims to raise Rs 49.91 crore from the market through a fresh issue of 27,72,800 lakh shares.

Lakshya Powertech IPO price band was fixed at Rs 171 and Rs 180 per share. Retail investors could bid in the public offer with a minimum lot size of 800 shares amounting to an investment of Rs 1,44,000.

The bidding window for Lakshya Powertech IPO closed on October 18.

As per the company's red herring prospectus, of the 27,80,800 shares offered --18.87% was reserved for Qualified institutional buyers, 14.24% for Non-institutional investors, 32.22% for retail investors and 26.75% for Anchor investors.

GYR Capital Advisors Pvt. is the book-running lead manager for the Lakshya Powertech IPO, while Kfin Technologies Ltd. is the registrar of the issue.

Giriraj Stock Broking Pvt. is acting as the issue’s market maker.

The IPO was subscribed 573.36 times on Friday

• Qualified Institutions: 212.18 times

• Non-Institutional Buyers: 1117.75 times

• Retail Investors: 590.26 times

Incorporated in 2012, Lakshya Powertech Ltd. began as an engineering, procurement, construction, and commissioning (EPCC) service provider, specialising in mechanical and electrical services.

The company later expanded its offerings to include operations and maintenance (O&M) services for gas-fired power plants and large-scale power generation projects.

Lakshya Powertech Ltd. caters to the oil and gas, power, renewable energy, and industrial sectors.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.