Wed Oct 16 18:16:05 UTC 2024: ## Lakshya Powertech IPO Opens for Subscription

**Mumbai, India – October 16, 2024:** Lakshya Powertech, an engineering consultancy and contracting company, has opened its initial public offering (IPO) for subscription today. The ₹49.91 crore IPO, with a price band of ₹171-₹180 per share, will conclude on October 18.

The IPO is a fresh issuance of 27,72,800 lakh equity shares. The proceeds raised will be used for debt repayment, working capital requirements, and general corporate purposes.

Investors can bid for a minimum of one lot size, comprising 800 shares valued at ₹1,44,000. High-networth individuals require a minimum investment of ₹2,88,000.

The IPO has allocated 50% of the net issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

The allotment status for the Lakshya Powertech IPO is expected to be finalized on Monday, October 21. The company’s shares will be listed on the NSE SME platform, Emerge, on Wednesday, October 23.

Established in 2012, Lakshya Powertech specializes in mechanical and electrical services, and has expanded to operations and maintenance (O&M) for gas power generation. The company serves the oil and gas, power, renewable energy, and industrial sectors.

Lakshya Powertech has successfully executed over 138 projects, demonstrating its expertise in managing multiple projects simultaneously. The company reported a 179% increase in revenue from operations in the financial year 2023-24, reaching ₹53.04 crore compared to the previous fiscal year. Its net profit also surged 478% to ₹15.67 crore in FY24, compared to ₹2.71 crore in FY23.

**Disclaimer:** Investment in securities markets is subject to market risks. Please read all relevant documents carefully before investing.

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