Lakshya Powertech IPO Allotment and Listing Date

The Lakshya Powertech IPO was a book-built issue amounting to ₹49.91 crores. This IPO, entirely consisting of a fresh issue of 2,773,000 shares, opened for bidding from October 16 to October 18, 2024. 

Lakshya Powertech IPO basis of allotment is expected to be finalised on Monday, October 21, 2024. Lakshya Powertech IPO allotment status will be available once the basis of allotment is finalised. The tentative listing date of the IPO is Wednesday, October 23, 2024, on the NSE SME.

The IPO allocated 5,24,800 shares (18.87%) to QIBs, 3,96,000 shares (14.24%) to NIIs, 8,96,000 shares (32.22%) to retail individual investors (RIIs), and 7,44,000 shares (26.75%) to anchor investors. 

The Lakshya Powertech IPO saw a subscription rate of 573.36 times as of October 18, 2024, at 6:19 PM. Retail investors subscribed 590.26 times, Qualified Institutional Buyers (QIBs) at 212.18 times, and Non-Institutional Investors (NIIs) at 1,117.75 times.

As per the RHP, Lakshya Powertech intends to utilise the net proceeds from the IPO for several purposes, including the repayment or prepayment of certain outstanding borrowings, funding working capital requirements, and general corporate purposes.

About Lakshya Powertech Limited

Lakshya Powertech began as an engineering consultancy and contracting company, known for its expertise in mechanical and electrical services. Initially focusing on power generation consulting, the company later evolved into a multifaceted entity, expanding into Operations and Maintenance (O&M) for gas power generation. Lakshya Powertech operates across 4 key sectors: Oil and Gas, Power, Renewable Energy, and Industrial.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.