Lakshya Powertech IPO Subscription Touches 93.41x on Day 2

The Lakshya Powertech Limited IPO opened for subscription on Wednesday, October 16, 2024, and will close on October 18, 2024. The share allotment is anticipated to be finalised on Monday, October 21, 2024, with shares expected to be listed on both the BSE and NSE on Wednesday, October 23, 2024.

This IPO is a book-built issue amounting to ₹49.91 crores, consisting entirely of a fresh issue of 27.73 lakh shares. The price band for the Lakshya Powertech IPO is set between ₹171 and ₹180 per share. Retail investors must apply for a minimum lot of 800 shares, requiring a minimum investment of ₹1,44,000.

The IPO offers a total of 27,80,800 shares, with allocations distributed as follows: 5,24,800 shares (18.87%) for Qualified Institutional Buyers (QIB), 3,96,000 shares (14.24%) for Non-Institutional Investors (NII), 8,96,000 shares (32.22%) for Retail Individual Investors (RII), and 7,44,000 shares (26.75%) for Anchor investors.

As of October 17, 2024, 9:28 AM the last GMP for the Lakshya Powertech SME IPO is ₹172. With the upper price band at ₹180, the estimated listing price is projected to be ₹352 (cap price + current GMP), indicating a potential gain of 95.56% per share.

Lakshya Powertech IPO Subscription Status

• On October 16, 2024, Day 1, Lakshya Powertech IPO was subscribed 61.71 times overall, with the retail category seeing a subscription of 100.68 times, QIB at 1.37 times, and NII at 64.61 times. 

• On Day 2, October 17, 2024, as of 11:39 AM, Lakshya Powertech IPO was subscribed 93.41 times where the retail category was subscribed 150.21 times, QIB was 1.37 times, and NII was 103.73 times. 

About Lakshya Powertech Limited

Founded in 2012, Lakshya Powertech started as an engineering consultancy and contracting company, known for its expertise in mechanical and electrical services. Initially focusing on power generation consulting, the company quickly evolved into a multifaceted entity, significantly expanding into Operations and Maintenance (O&M) for gas power generation. Lakshya Powertech operates across four 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.