Lakshya Powertech IPO Day 3 Subscription Status

Lakshya Powertech Limited’s IPO opened for subscription on October 16, 2024, and will close today, October 18, 2024.

This book-built issue aims to raise ₹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 need to apply for a minimum lot of 800 shares, which requires a minimum investment of ₹1,44,000.

As of October 18, 2024, at 10:55 AM, the Lakshya Powertech IPO GMP is ₹175. With a price band of ₹180.00, the estimated listing price for the Lakshya Powertech SME IPO is ₹355 (cap price + today’s GMP), indicating a potential gain of 97.22% per share.

The share allotment is expected to be finalised on Monday, October 21, 2024, with shares anticipated to be listed on NSE Emerge on Wednesday, October 23, 2024.

The company intends to use the net proceeds from the issue for purposes, including the prepayment or repayment of some or all outstanding borrowings incurred by the company, funding its working capital needs, and for general corporate requirements.

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, Lakshya Powertech IPO was subscribed 168.09 times where the retail category was subscribed 255.38 times, QIB was 12.78 times, and NII was 206.78 times. 
• On Day 3, October 18, 2024, as of 11:13 AM, Lakshya Powertech IPO was subscribed 227.93 times where the retail category was subscribed 327.63 times, QIB was 12.82 times, and NII was 328.68 times. 

About Lakshya Powertech Limited

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.