Bookbuilding IPO | ₹50 Cr | Listed at NSE SME | Wed, Oct 16, 2024 - Fri, Oct 18, 2024
Lakshya Powertech IPO is a book build issue of ₹49.80 crores. The issue is entirely a fresh issue of 0.28 crore shares of ₹49.80 crore.
Lakshya Powertech IPO bidding started from Oct 16, 2024 and ended on Oct 18, 2024. The allotment for Lakshya Powertech IPO was finalized on Oct 21, 2024. The shares got listed on NSE SME on Oct 23, 2024.
Lakshya Powertech IPO price band is set at ₹180 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,44,000 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,88,000.
The issue includes a reservation of up to 72,000 shares for employees offered at a discount of ₹15.00 to the issue price.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Lakshya Powertech IPO RHP for detailed Information.
IPO Open
Wed, Oct 16, 2024
IPO Close
Fri, Oct 18, 2024
Issue Price
₹180 per share
Market Cap (Pre-IPO)
₹181.51 Cr
| IPO Date | 16 to 18 Oct, 2024 |
| Listed on | Wed, Oct 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹171 to ₹180 |
| Issue Price | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Employee Discount | ₹15.00 |
| Total Issue Size | 27,72,800 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 1,48,000 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 26,24,800 shares (agg. up to ₹47 Cr) |
| Net Offered to Public | 26,24,800 shares (agg. up to ₹47 Cr) |
| Share Holding Pre Issue | 73,11,120 shares |
| Share Holding Post Issue | 1,00,83,920 shares |
| NSE Symbol | LAKSHYA |
| ISIN | INE0VZS01015 |
Lakshya Powertech IPO comprises a total issue size of 27,72,800 shares. The net offer to the public is 25,52,800 shares, after excluding 1,48,000 shares allotted on a firm basis and 72,000 shares under a preferential allotment. Of the Net offer 12,60,800 (49.39%) are allocated to QIB, 3,96,000 (15.51%) allocated to NII 8,96,000 (35.10%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 12,60,800 | 49.39% | 45.47% |
| − Anchor Investor Shares Offered | 7,44,000 | 26.83% | |
| − QIB (Ex. Anchor) Shares Offered | 5,16,800 | 18.64% | |
| NII (HNI) Shares Offered | 3,96,000 | 15.51% | 14.28% |
| Retail Shares Offered | 8,96,000 | 35.10% | 32.31% |
| Preferential Reservations | |||
| Employee Shares Offered | 72,000 | 2.60% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,48,000 | 5.34% | |
| Total Shares Offered | 27,72,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,44,000 |
| Retail (Max) | 1 | 800 | ₹1,44,000 |
| HNI (Min) | 2 | 1,600 | ₹2,88,000 |
Lakshya Powertech IPO raises ₹13.39 crore from anchor investors. Lakshya Powertech IPO Anchor bid date is October 15, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Oct 15, 2024 |
| Shares Offered | 7,44,000 |
| Anchor Portion (₹ Cr.) | 13.39 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Nov 19, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Jan 18, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Established in 2012, Lakshya Powertech Limited started as an engineering consultancy firm specializing in mechanical and electrical services. The company quickly expanded from freelance power generation consultancy into operations and maintenance (O&M) for gas-fired power plants and large power generation projects.
By diversifying into the oil and gas sector, the company expanded its services and strengthened its position in the industry. An EPC contract in the renewable energy sector in Malaysia and growth in oil and gas plant maintenance and repair marked the company's global reach.
Lakshya Powertech's services are divided into four main areas: (i) Engineering, Procurement, Construction, and Commissioning; (ii) Integrated Operation and Maintenance Services; (iii) Specialty Services.
The company has successfully executed more than 138 projects with the major projects completed amounting to approximately Rs. 13690.68 lakhs.
Competitive Strengths:
The company works with both public and private sector entities. The company's clients include Gmmco Limited, Equinox Engineering Limited, and many other prestigious companies and government institutions.
As of May 31, 2024, the company had 912 employees on its payroll.
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 94.16 | 82.46 | 33.35 | 17.59 |
| Total Income | 58.15 | 149.42 | 53.11 | 34.21 |
| Profit After Tax | 5.97 | 15.68 | 2.71 | 1.05 |
| NET Worth | 37.71 | 31.74 | 6.61 | 3.90 |
| Reserves and Surplus | 30.40 | 24.43 | 6.51 | 3.80 |
| Total Borrowing | 29.17 | 29.00 | 14.49 | 5.90 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company | 4.50 |
| 2 | Funding working capital requirements of the Company; and | 30.00 |
| 3 | General Corporate Purposes | 11.46 |
| KPI | Aug 31, 2024 |
|---|---|
| ROE | 16% |
| ROCE | 13.41% |
| Debt/Equity | 0.83 |
| RoNW | 15.84% |
| PAT Margin | 10.33% |
| Price to Book Value | 3.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 21.44 | 14.21 |
| P/E (x) | 8.39 | 12.67 |
| Promoter Holding | 95.48% | 69.22% |
| Market Cap | ₹181.51 Cr. |
The Lakshya Powertech IPO is subscribed 573.36 times on October 18, 2024 6:19:59 PM (Day 3). The public issue subscribed 590.26 times in the retail category, 212.18 times in the QIB category, and 1,117.75 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 212.18 | 5,24,800 | 11,13,51,200 |
| NII* | 1,117.75 | 3,96,000 | 44,26,30,400 |
| Retail | 590.26 | 8,96,000 | 52,88,71,200 |
| Total | 573.36 | 18,88,800 | 1,08,29,64,000 |
Total Application : 6,61,089
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 2.98 |
| 2 | Marketing and Selling Commission and expenses | 0.03 |
| 3 | Advertising and marketing expenses | 0.12 |
| 4 | Printing and distribution of issue stationery | 0.00 |
| 5 | Listing fees | 0.01 |
| 6 | SEBI and NSE processing fees | 0.01 |
| 7 | Book Building software fees | 0.04 |
| 8 | Other regulatory expenses | 0.01 |
| 9 | Miscellaneous | 0.75 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹342.00 |
| Low | ₹342.00 |
| High | ₹359.10 |
| Last Trade | ₹359.10 |
Lead Manager Reports
Lakshya Powertech IPO is a SME IPO of 27,72,800 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800.
The IPO opens on Wed, Oct 16, 2024, and closes on Fri, Oct 18, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Lakshya Powertech IPO using UPI as a payment gateway. Zerodha customers can apply in Lakshya Powertech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Lakshya Powertech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Lakshya Powertech IPO opens on Wed, Oct 16, 2024 and closes on Fri, Oct 18, 2024.
Lakshya Powertech IPO lot size is 800, and the minimum amount required for application is ₹1,44,000.
You can apply in Lakshya Powertech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Lakshya Powertech IPO will be done on Monday, October 21, 2024, and the allotted shares will be credited to your demat account by Tue, Oct 22, 2024. Check the Lakshya Powertech IPO allotment status.
The Lakshya Powertech IPO listing date is on Wed, Oct 23, 2024.
