Thu Oct 17 13:51:05 UTC 2024: ## Lakshya Powertech IPO Over-Subscribed, Set for Strong Listing

**Mumbai, October 17, 2023:** Lakshya Powertech Limited, a power generation firm, is seeing strong demand for its initial public offering (IPO), which opened on Wednesday, October 16th. With the bidding process nearing its close on Friday, October 18th, the IPO has been subscribed a staggering 166.82 times.

The IPO aims to raise ₹49.91 crore through a fresh issue of 27.73 lakh shares. The retail portion of the issue has seen the highest demand, subscribed 252.91 times, followed by the non-institutional buyer segment at 206.32 times.

The grey market premium (GMP), a strong indicator of investor sentiment, is currently at ₹172, hinting at a potential listing premium of over 96%. This means the stock could be listed at ₹352, significantly higher than the upper price band of ₹180.

**Key IPO Highlights:**

* **IPO Dates:** October 16-18, 2023.
* **Price Band:** ₹171 – ₹180 per share.
* **Lot Size:** 800 shares per lot.
* **Allotment Date:** October 21, 2023.
* **Listing Date:** October 23, 2023 on NSE SME.
* **Book-Running Lead Manager:** GYR Capital Advisors Private Limited.
* **Registrar:** Kfin Technologies Limited.

Lakshya Powertech specializes in consultancy, operations, and maintenance for gas-fired power plants and large power generation projects. The company has shown impressive growth in recent years, with profit after tax reaching ₹1,567.77 lakh in FY24.

**Disclaimer:** This news article is for informational purposes only and should not be considered investment advice. Consult with a qualified financial advisor before making any investment decisions.

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