Lakshya Powertech IPO Opens: 10 Key Points to Consider Before Investing

Lakshya Powertech IPO Opens: 10 Key Points to Consider Before Investing

Lakshya Powertech IPO opens

Lakshya Powertech IPO Opens: 10 Key Points: Lakshya Powertech IPO began its subscription on Wednesday, October 16, 2024, and will close on October 18, 2024. The company aims to raise around ₹49.91 crores through this SME IPO, with shares priced between ₹171 and ₹180 per share. The allocation for retail investors is set at 35%, Qualified Institutional Buyers (QIB) at 50%, and Non-Institutional Investors (NII) at 15%. Investors must apply for a minimum of 800 shares, amounting to ₹144,000. The IPO will be listed on the NSE.

Lakshya Powertech Limited, founded in 2012 in Gujarat, Dadra, and Nagar Haveli, operates as an engineering consultancy and contracting company, specializing in mechanical and electrical services. It works in four key sectors: Oil, Gas, Power, Renewable Energy, and Industrial. The company emphasizes quality and safety in its services. Over the years, it has completed 138 major projects, with one complex project valued at ₹13,690.68 lakhs. For FY 2024, its revenue reached ₹14,813.46 lakhs, while it reported revenues of ₹5,304.52 lakhs and ₹3,414.33 lakhs for FY 2023 and FY 2022, respectively.

Lakshya Powertech IPO Opens: 10 Key Points: Investors are advised to consider applying for the Lakshya Powertech IPO with a long-term perspective. It is important to monitor the subscription figures for Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Individual Investors (RII) before making a decision. As of now, the subscription numbers for all categories—QIB, NII, and RII—are at 0.00 for the first three days.

Investor categories:
– Qualified Institutional Buyers (QIB): Includes financial institutions, banks, Foreign Institutional Investors (FIIs), and mutual funds.
– Non-Institutional Investors (NII): Comprises individual investors, NRIs, companies, trusts, etc.
– Retail Individual Investors (RII):Retail investors and NRIs.
– Employees (EMP): Eligible employees of the company.
– Others: Eligible shareholders.

Lakshya Powertech IPO Opens: 10 Key Points: To apply for the Lakshya Powertech IPO, investors can use the ASBA (Application Supported by Blocked Amount) option available through their bank account. Simply log in to your online banking portal, navigate to the “Invest” section, and select the Lakshya Powertech IPO to apply. Alternatively, you can download the IPO application forms online, fill them out, and submit them to your bank or broker. The IPO subscription opened on October 16, 2024, for QIB, NII, and retail investors.

You can subscribe to the Lakshya Powertech IPO using either the ASBA or Non-ASBA methods. For ASBA, log in to your bank account and apply online by selecting the IPO, or download and complete the form, then submit it to your bank or broker. For Non-ASBA, you can get a physical form, fill it out, and submit it the same way.

You can also track live IPO subscription numbers, which are updated hourly on our portal, using data from official websites. Alternatively, you can check live subscription figures directly on the specific IPO page of the official website.

To apply via Upstox, log in with your credentials, select the Lakshya Powertech IPO, click “Bid,” and confirm your application. Then, approve the UPI mandate through your net banking or BHIM app. Similarly, with Paytm Money, log in, select the IPO, click “Bid,” confirm your application, and approve the UPI mandate. You can also open a Demat account with Upstox or Paytm Money for ease of investment.

Lakshya Powertech IPO Opens: 10 Key Points: Lakshya Powertech has set its price band at ₹171-₹180 per share, with each share having a face value of ₹10. The Ahmedabad-based company’s IPO opened for subscription today and will close on October 18. The total issue size is ₹49.91 crore, with a minimum lot size of 800 shares.

Lakshya Powertech provides Engineering, Procurement, Construction, and Commissioning (EPCC) services, focusing on sectors like Oil and Gas, Power, Data Centers, Industrial, and Renewable Energy. The shares will be listed on the NSE Emerge platform.

The company raised ₹13.39 crore from anchor investors by allotting 7,44,000 shares at ₹180 per share. Among the 11 anchor investors were HDFC Bank, Veloce AIF, PARADISE MOON INVESTMENT FUND I, and Coeus Global Opportunities Fund, among others.

The funds from the IPO will be used for several purposes, including ₹450 lakh for prepayment or repayment of outstanding borrowings, ₹3,000 lakh for working capital needs, and the remaining amount for general corporate purposes.

Lakshya Powertech IPO Opens: 10 Key Points: The allocation quotas for the IPO are as follows:
– QIB Quota: Up to 5,16,800 equity shares
– NII Quota: Up to 3,96,000 equity shares
– Retail Quota: Up to 8,96,000 equity shares
– Employee Quota: Up to 72,000 equity shares
– Market Maker Portion: 1,48,000 equity shares

GYR Capital Advisors Pvt. Ltd. is the sole book-running lead manager, and KFIN Technologies Ltd. serves as the registrar for the issue.

Lakshya Powertech IPO Opens: 10 Key Points: The SME IPO of Lakshya Powertech opened for subscription today and will close on October 18. The company aims to raise ₹50 crore through this IPO and plans to list its shares on the NSE SME platform.

Lakshya Powertech IPO Opens: 10 Key Points: 10 key points for investors to know before subscribing:

1. The IPO is a fresh equity issue of 27.72 lakh shares, with the goal of raising approximately ₹50 crore.

2. Shares are priced between ₹171 and ₹180 each, and investors can bid for a minimum lot of 800 shares

3. In the unlisted market, the shares are trading at a ₹160 GMP (Grey Market Premium), reflecting an 89% premium over the issue price.

4. The company initially started as a freelancing consultancy in power generation and quickly expanded into Operations and Maintenance (O&M) services for gas power generation.

5. According to the Central Electricity Authority (CEA), renewable energy’s share in total generation is expected to rise from 18% to 44% by 2029-30, while thermal energy’s share will fall from 78% to 52%.

6. India’s government has set a target of 500 GW renewable energy capacity by 2030 and has allocated $1.4 trillion under the National Infrastructure Pipeline for FY 2019-25.

7. For the year ending March 2024, Lakshya Powertech reported total revenue of ₹148 crore and a net profit of ₹15.67 crore.

8. The IPO proceeds will be used to repay debt, meet working capital needs, and for general corporate purposes.

9. GYR Capital Advisors is the lead manager for the IPO, and Kfin Technologies is the registrar.

10. The IPO has a 50% allocation for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for Non-Institutional Investors (NII). The final allotment is expected on October 21, with listing scheduled for October 23.