Wed Oct 16 17:03:40 UTC 2024: ## Lakshya Powertech IPO Opens for Subscription, Aims to Raise ₹49.91 Crores

**Mumbai, October 16, 2024:** Lakshya Powertech Limited, an engineering consultancy and contracting company specializing in mechanical and electrical services, commenced its initial public offering (IPO) today, aiming to raise approximately ₹49.91 crores. The IPO, which is open for subscription until October 18, 2024, is a Small and Medium Enterprise (SME) IPO and will be listed on the National Stock Exchange of India (NSE).

The price band for the IPO has been fixed at ₹171 to ₹180 per equity share, with a minimum market lot of 800 shares requiring an application amount of ₹144,000. The quota for the retail investors is set at 35%, qualified institutional buyers (QIBs) at 50%, and non-institutional investors (NIIs) at 15%.

Lakshya Powertech, established in 2012, boasts expertise in four key sectors: Oil, Gas, Power, Renewable Energy, and Industrial. The company has a strong track record with 138 major projects executed, including a complex project worth ₹13690.68 lakhs. Their FY2024 revenue stands at ₹14,813.46 lakhs, with FY2023 and FY2022 revenues at ₹5,304.52 lakhs and ₹3,414.33 lakhs respectively.

Experts recommend investors with a long-term view consider applying for the IPO, keeping in mind the QIB, NII, and retail subscription numbers before investing.

**Applying for the Lakshya Powertech IPO:**

Investors can apply for the IPO through the ASBA (Applications Supported by Blocked Amount) facility available at their bank account. Alternatively, IPO forms can be downloaded online and submitted through the bank or a broker.

**For further information on Lakshya Powertech IPO and other upcoming IPOs, visit IPO Watch for in-depth analysis, GMP updates, and videos on their YouTube channel.**

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