Lakshya Powertech IPO allotment expected today: Steps to check status on NSE, KFin Technologies

Lakshya Powertech IPO share allotment status is likely to be finalised on Monday, October 21.

The NSE SME issue closed with a bumper subscription on Friday, October 18. The investors are now awaiting for the IPO share allotment status to be finalised by the company.

The Lakshya Powertech IPO was subscribed 573.43 times, mainly with massive demand from non-institutional investors (NIIs). Investors applied for 108.31 crore shares against 18.88 lakh shares on offer.

The Lakshya Powertech IPO was booked 1,118.12 times in the NIIs category. Retail investors subscribed to their portion 590.25 times, while Qualified Institutional Buyers (QIBs) booked their quota 212.17 times.

The investors who participated in the subscription of Lakshya Powertech IPO can check the share allotment status online through the websites of the NSE and the issue registrar, KFin Technologies Limited.

Steps to check Lakshya Powertech IPO on NSE:

• Visit the NSE website and go to the allotment status check page (www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp)
• Log in with your username and password. To check the IPO allotment status, you must register on the NSE website and generate a login ID and password.
• Select Lakshya Powertech from the dropdown list of companies
• Verify the details of your PAN
• Put in the IPO application number
• Hit the ‘submit’ button to check allotment details

Here’s how to check Lakshya Powertech IPO allotment status on registrar’s website

• Go to the IPO allotment page of the registrar Kfin Technologies Limited at https://ris.kfintech.com/ipostatus/
• Choose any link from the five links available
• Under the IPO name, choose Lakshya Powertech Limited
• Enter your Application Number, Demat account number or PAN
• Enter details as per your selection
• Clear captcha to verify
• Click on the submit button to view the allotment status

Lakshya Powertech IPO details

The ₹49.91-crore public offer of Lakshya Powertech was an entirely fresh issue of 27.73 lakh shares.

Lakshya Powertech price band was set at ₹171 to ₹180 per share. Retail investors' minimum application size was a single lot of 800 shares, amounting to an investment of ₹1,44,000.

After the IPO allotment status is finalised, the successful bidders will receive the shares in their demat accounts on October 22, and refunds will be initiated for the non-allottees on the same day. Shares of Lakshya Powertech will be listed on the NSE SME platform Emerge on October 23.

Lakshya Powertech IPO objectives

Lakshya Powertech will repay its outstanding debts using the proceeds from its IPO. A portion of the funds will also be used to meet working capital requirements and for general corporate purposes.

About Lakshya Powertech Limited

Lakshya Powertech Limited offers services to several industries including oil and gas, power, and renewable energy. Founded in 2012, the company’s core operations include Engineering, Procurement, Construction and Commissioning (EPCC), integrated operation and maintenance (O&M), and other speciality services in the construction engineering field. As of May 31, 2024, Lakshya Powertech employed 912 workers.