Lakshya Powertech IPO opens for subscription: Check price band, lot size, allotment and listing date

Lakshya Powertech IPO opened for subscription on Wednesday, October 16. The ₹49.91 crore initial share sale, which has set a price band of ₹171-₹180 per share, will conclude on October 18.

The public offer is completely a fresh offering of 27,72,800 lakh equity shares.

The money raised will be used to repay debt, fund working capital requirements, and serve general corporate purposes.

Lakshya Powertech IPO: Lot size

An investor can bid for a minimum of one lot size, consisting of 800 shares valued at ₹1,44,000. For high-networth individuals, the minimum investment is ₹2,88,000.

Half of the net issue has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail investors.

Lakshya Powertech IPO: Allotment and listing date

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

GYR Capital Advisors Pvt Ltd is the book-running lead manager for the issue, and KFin Technologies is the registrar.

Lakshya Powertech IPO: About the company

Established in 2012, Lakshya Powertech is an engineering consultancy and contracting company with expertise in mechanical and electrical services. The firm later expanded its focus to operations and maintenance (O&M) for gas power generation.

The company primarily serves oil and gas, power, renewable energy and industrial sectors. It has successfully executed over 138 projects, specialising in managing multiple projects simultaneously.

The company reported a 179% increase in revenue from operations for the financial year 2023-24, compared to ₹53.04 crore in the previous fiscal year.

The net profit increased 478% to ₹15.67 crore in FY24, compared to ₹2.71 crore in the previous fiscal year.