IPO Details
Bidding Dates
16 Oct '24 - 18 Oct '24
Minimum Investment
₹1,44,000 / 1 Lot (800 Shares)
Price Range
₹171 - ₹180
Maximum Investment
₹1,44,000 / 1 Lot (800 Shares)
Retail Discount
Not Applicable
Issue Size
₹49.91 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | eligible employees |Lakshya Powertech IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Oct 16, 2024
Closing Date
Oct 18, 2024
Basis of Allotment
Oct 21, 2024
Initiation of Refunds
Oct 22, 2024
Listing Date
Oct 23, 2024
About Lakshya Powertech IPO
Lakshya Powertech Limited is launching a book-built IPO worth ₹49.91 crores. This IPO consists of a fresh issue of 27.73 lakh shares. The subscription for the Lakshya Powertech IPO will open on October 16, 2024, and close on October 18, 2024. The allotment is expected to be finalised on Monday, October 21, 2024, with the listing on NSE SME tentatively scheduled for Wednesday, October 23, 2024.
The IPO price band is set between ₹171 and ₹180 per share, with a minimum lot size of 800 shares. Retail investors will need to make a minimum investment of ₹144,000 for one lot. High Net-Worth Individuals (HNIs) must invest in at least 2 lots (1,600 shares), amounting to ₹288,000. Additionally, up to 72,000 shares have been reserved for employees at a ₹15 discount on the issue price, offering them an exclusive opportunity.
Industry Outlook
- India’s power consumption surged 8.4% in July 2023, reaching 139 billion units. Driven by increased electrification and economic activity, demand is projected to hit 817 GW by 2030.
- India’s renewable energy capacity rose to 125.15 GW in FY23, with plans to reach 450 GW by 2030, as 43.9% of total installed capacity now comes from non-fossil-based sources.
Lakshya Powertech IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
- Funding the working capital requirements of the company.
- General Corporate Purposes.
About Lakshya Powertech Limited
Lakshya Powertech Limited, established in 2012, began as an engineering consultancy firm specialising in mechanical and electrical services. The company quickly transitioned from freelance power generation consultancy to providing operations and maintenance (O&M) services for gas-fired power plants and large-scale power generation projects.
Over the years, Lakshya Powertech diversified into the oil and gas sector, further expanding its service offerings. A key milestone in its global expansion was securing an EPC contract in the renewable energy sector in Malaysia, along with significant growth in oil and gas plant maintenance and repair.
The company's services are divided into three core areas: Engineering, Procurement, Construction, and Commissioning (EPCC); Integrated Operations and Maintenance Services; and Specialty Services. With a strong track record of over 138 successfully executed projects, Lakshya Powertech has completed projects amounting to ₹13,690.68 lakh.
The company serves both public and private sectors, working with esteemed clients such as Gmmco Limited and Equinox Engineering Limited, and employs 912 staff members as of May 31, 2024.
Peer Details
The companies considered by Lakshya Powertech as its peers include:
- Asian Energy Services Limited
- Engineers India Limited
How To Check the Allotment Status of the Lakshya Powertech IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Lakshya Powertech IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Lakshya Powertech IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Lakshya Powertech IPO
Registered office: A-620 & 621 Siddhivinayak Tower - A, B/H DCP Office, Off. S.G. Highway, Makarba, Jivraj Park, Ahmedabad, Gujarat380051, India
Phone: +91 9898577752
E-mail: investor@lakshyapowertech.com
Financial Performance of Lakshya Powertech
| Particulars | For the period ended August 31, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|---|
| Total Revenue (in ₹ lakh ) | 5,815.38 | 14,941.92 | 5,311.21 | 3,421.39 |
| Profit After Tax (PAT) (in ₹ lakh) | 597.11 | 1,567.77 | 271.09 | 104.58 |
| Debt- Equity Ratio (x) | 0.83 | 0.95 | 2.19 | 1.51 |
| Net Worth (in ₹ lakh) | 3,770.80 | 3,173.71 | 660.98 | 389.89 |
| Return on Average Equity (RoAE) (%) | 17.20% | 81.77% | 51.59% | 30.98% |
| Return on Net Worth(%) | 15.84% | 49.40% | 41.01% | 26.82% |
| Return on Capital Employed (RoCE) (%) | 13.41% | 36.56% | 20.55% | 17.42% |
| Earning Per Share (EPS)-in absolute ₹ | 8.17 | 21.75 | 11.30 | 4.36 |
Know before investing
Strengths
6-
Comprehensive project management expertise with ISO 9001 and 45001 certifications.
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Successfully completed over 138 projects worth ₹13,690.68 lakhs.
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Pre-qualified for EPC projects up to ₹290 lakhs contract value.
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Diverse expertise in power, oil, gas, and renewable sectors.
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Strong relationships with top clients like Gmmco and Equinox.
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Over 900 employees, including 800+ technically qualified professionals.
Risks
6-
Projects awarded through competitive bidding, risking future contract qualifications.
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The in-house design team's loss may affect 86 skilled engineers.
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The registered office is rented; relocation risks operational disruptions.
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Delays in projects may result in liquidated damages payments.
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Rising raw material costs impact financials and project profitability.
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₹2916.59 lakh in outstanding debt with restrictive covenants.
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Lakshya Powertech IPO FAQs
Lakshya Powertech’s IPO is a book-built IPO. It will be open from October 16, 2024, to October 18, 2024.
The Basis of Allotment will happen on Monday, October 21, 2024.
The IPO subscription window will open on October 16, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 800 shares.
The listing date for Lakshya Powertech is Wednesday, October 23, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Lakshya Powertech’s financial statements, download the IPO’s RHP document.
