Lakshya Powertech share price made a stellar debut on NSE SME today. Lakshya Powertech share price today opened at ₹342, which is 90% higher than the issue price of ₹180.
Lakshya Powertech IPO subscription period started on Wednesday, October 16, and ended on Friday, October 18. The price band for each share of the Lakshya Powertech IPO was between ₹171 and ₹180, with a face value of ₹10. There were multiple shares available, and bidders could apply for a minimum of 800 shares. Lakshya Powertech IPO subscription status was 573.36 times on the last bidding day, as per chittorgarh.com.
Lakshya Powertech Limited began as an engineering consulting business with a focus on mechanical and electrical services when it was founded in 2012. From providing independent power generation consulting, the business swiftly grew into operations and maintenance (O&M) for big power generation projects including gas-fired power plants.
By branching out into the oil and gas industry, the business enhanced its offerings and solidified its place in the market. The company's global reach was demonstrated by an EPC contract in Malaysia's renewable energy industry and expansion in the maintenance and repair of oil and gas plants.
As per the red herring prospectus (RHP), the company's listed peers are Asian Energy Services Ltd (with a P/E of 53.56), and Engineers India Ltd (with a P/E of 23.86).
Between March 31, 2024, and March 31, 2023, Lakshya Powertech Limited's sales grew by 181% and its profit after tax (PAT) increased by 478%.
Lakshya Powertech IPO details
Lakshya Powertech IPO, valued ₹49.91 crore, includes a fresh issuance of 2,772,800 equity shares with a face value of ₹10. There is no "offer for sale" component.
The firm intends to use the net proceeds from the issue for financing its working capital needs, general corporate purposes, and the prepayment or repayment of all or a portion of the existing borrowings that the company has taken out.
The Lakshya Powertech IPO's book running lead manager is GYR Capital Advisors Private Limited, and the issue's registrar is Kfin Technologies Limited. Giriraj Stock Broking is the market maker for the Lakshya Powertech IPO.
Lakshya Powertech IPO GMP today
Lakshya Powertech IPO GMP is +170. This indicates Lakshya Powertech share price were trading at a premium of ₹170 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Lakshya Powertech share price was indicated at ₹350 apiece, which is 94.44% higher than the IPO price of ₹180.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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