Lakshya Powertech IPO: Check GMP, Day 1 Subscription Status, Price Band And More
The grey market premium (GMP) of Lakshya Powertech IPO stood at Rs 169, a 93.89% premium over the issue price of Rs 180.
The initial public offering (IPO) of Lakshya Powertech Ltd. opened for subscription on Oct. 16. The company aims to raise Rs 49.91 crore from the market through a fresh issue of 27,72,800 lakh shares. Investors interested in Lakshya Powertech IPO must check out these key details before bidding.
Lakshya Powertech IPO: Details
Lakshya Powertech IPO price band has been fixed at Rs 171 and Rs 180 per share. Retail investors can 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 will remain open till Oct 18.
As much as 50% of the net issue of Lakshya Powertech IPO has been reserved for qualified institutional buyers (QIBs), while 35% has been set aside for retail investors. Non-institutional investors (NIIs) will be allotted the remaining 15% of the issue.
Lakshya Powertech IPO also has a reservation of up to 72,000 shares for the company’s employees at a Rs 15 discount.
The share allotment of the IPO will be finalised on Oct. 21. Lakshya Powertech shares are expected to list on the NSE SME platform, Emerge, on Oct. 23.
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.
Lakshya Powertech IPO Day 1 Subscription Status
The IPO has been subscribed 27.28 times as of 1:17 p.m. on Wednesday
Qualified Institutions: 0.63 times
Non-Institutional Buyers: 22.67 times
Retail Investors: 47.10 times
The subscription status will be updated at regular intervals
Lakshya Powertech IPO Grey Market Premium Today
The grey market premium (GMP) of Lakshya Powertech IPO stood at Rs 169 at around 12:55 p.m. on October 16. This indicates a possible listing at a premium for Lakshya Powertech shares. As per Investorgain, shares of Lakshya Powertech are expected to debut at Rs 349, a 93.89% premium over the issue price of Rs 180.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Lakshya Powertech Ltd. Business & Financials
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.
Lakshya Powertech IPO: Use of Funds
Lakshya Powertech plans to use the funds raised via the public issue settlement of debts. Further, the proceeds will be used for the company’s working capital requirements and general corporate purposes.
Financial Performance
Lakshya Powertech’s revenue from operations for the period ended August 31, 2024, stood at Rs 57.8 crore with a profit-after-tax (PAT) of Rs 5.97 crore.
The company’s revenue from operations for the financial year ended March 31, 2024, increased over 179% to Rs 148.13 crore compared to Rs 53.04 crore in the financial year ended March 31, 2023.
The company’s PAT for FY24 grew by more than 478% to Rs 15.67 crore compared to Rs 2.71 crore in the preceding fiscal.
Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in Lakshya Powertech Ltd.
