Lakshya Powertech Limited IPO

NiftyTrader • October 9, 2024

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Lakshya Powertech Limited IPO

Lakshya Powertech Limited’s IPO opens for subscription on October 16, 2024, and closes on October 18, 2024. The allotment for the IPO is expected to be finalized on Monday, October 21, 2024. The IPO will list on NSE SME, with a tentative listing date fixed as Wednesday, October 23, 2024.

Lakshya Powertech IPO price band is set at ₹171 to ₹180 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹288,000.

Lakshya Powertech IPO is a book-built issue of Rs 49.91 crores. The issue is entirely a fresh issue of 27.73 lakh shares.

Lakshya Powertech IPO Details

IPO Date	October 16, 2024 to October 18, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹171 to ₹180 per share
Lot Size	800 Shares
Total Issue Size	2,772,800 shares (aggregating up to ₹49.91 Cr)
Fresh Issue	2,772,800 shares (aggregating up to ₹49.91 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	7,311,120
Shareholding post-issue	10,083,920
Employee Discount	Rs 15 per share

Lakshya Powertech IPO Lot Size

Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	800	₹144,000
Retail (Max)	1	800	₹144,000
S-HNI (Min)	2	1600	₹288,000

Lakshya Powertech IPO Objectives

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:

Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
Funding working capital requirements of the Company; and
General Corporate Purposes.

About Lakshya Powertech Limited

Founded in 2012, Lakshya Powertech Limited began as an engineering consultancy firm focused on mechanical and electrical services, quickly evolving into a key player in operations and maintenance for gas-fired power plants and large power generation projects. Expanding its reach into the oil and gas sector, the company secured an EPC contract in renewable energy in Malaysia and bolstered its presence in plant maintenance and repair. Lakshya Powertech’s diverse offerings include Engineering, Procurement, Construction, and Commissioning; Integrated Operation and Maintenance Services; and Specialty Services, with over 138 projects completed and a total value of approximately Rs. 13690.68 lakhs. The company prides itself on its strong project management expertise, a robust order book, and exceptional pre-qualification credentials, enabling sustainable growth and solid financial performance. With a workforce of 912 employees as of May 31, 2024, Lakshya collaborates with both public and private sectors, serving notable clients like Gmmco Limited and Equinox Engineering Limited, while actively pursuing new projects and fostering strong relationships with customers and suppliers.

Lakshya Powertech Limited Financial Information

Period Ended	31 Aug 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	9,415.91	8,246.31	3,334.85	1,758.89
Revenue	5,815.38	14,941.92	5,311.21	3,421.39
Profit After Tax	597.11	1,567.77	271.09	104.58
Net Worth	3,770.8	3,173.71	660.98	389.89
Reserves and Surplus	3,039.69	2,442.6	650.98	379.89
Total Borrowing	2,916.59	2,900.04	1,448.67	590.43
				Amount in ₹ Lakhs

Lakshya Powertech IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.03% of the Net Issue
NII (HNI) Shares Offered	Not less than 15.00% of the Net Offer

Lakshya Powertech IPO Timeline

Lakshya Powertech IPO opens on October 16, 2024, and closes on October 18, 2024.

IPO Open Date	Wednesday, October 16, 2024
IPO Close Date	Friday, October 18, 2024
Basis of Allotment	Monday, October 21, 2024
Initiation of Refunds	Tuesday, October 22, 2024
A credit of Shares to Demat	Tuesday, October 22, 2024
Listing Date	Wednesday, October 23, 2024
Cut-off time for UPI mandate confirmation	5 PM on October 18, 2024