Tue Oct 15 04:41:33 UTC 2024: ## Lakshya Powertech IPO to Open on October 16th, Aiming to Raise ₹49.91 Crores

**Ahmedabad, India -** Lakshya Powertech Limited, an engineering consultancy and contracting company specializing in mechanical and electrical services, is set to launch its Initial Public Offering (IPO) on October 16th, 2024. The IPO, a Book Built Issue, will close on October 18th and aims to raise approximately ₹49.91 crores.

The IPO price band has been set at ₹171 to ₹180 per share, with the retail quota allocated 35%, Qualified Institutional Buyers (QIB) receiving 50%, and High Networth Individuals (HNI) getting 15%. The company plans to list on the National Stock Exchange of India (NSE) SME platform on October 23rd, with allotment scheduled for October 21st.

Lakshya Powertech has reported significant growth in recent years. Revenue surged from ₹53.11 crores in 2023 to ₹149.42 crores in 2024, while profit jumped from ₹2.71 crores to ₹15.68 crores during the same period. This strong performance has attracted investor interest, with the IPO’s grey market premium indicating a potential listing gain of 75%.

The company, founded in 2012, has established a strong reputation for quality and safety in the Oil, Gas, Power, Renewable Energy, and Industrial sectors. It has successfully executed over 138 projects, including a major project worth ₹13690.68 Lakhs.

Lakshya Powertech’s IPO offers investors an opportunity to participate in a company with a proven track record of growth and a promising future in the engineering sector.

**Key Dates:**

* **IPO Open Date:** October 16, 2024
* **IPO Close Date:** October 18, 2024
* **Allotment Date:** October 21, 2024
* **Listing Date:** October 23, 2024

**For more information, investors can visit:**

* **KFin Technologies Limited:** https://kosmic.kfintech.com/ipostatus/
* **Lakshya Powertech Limited:** https://www.lakshyapowertech.com/

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