Mon Oct 21 06:40:40 UTC 2024: **Lakshya Powertech IPO Summary:**
– **IPO Launch:** Lakshya Powertech’s public issue of ₹49.91 crores opened on October 16, 2023.
– **Share Details:** The IPO includes 27.73 lakh new shares with a price band of ₹171-₹180 per share and a lot size of 800 shares.
– **Closing Dates:** The IPO will close on October 18, 2023, with allotment results finalized on October 21, and potential listing on NSE SME on October 23.
– **Subscription Status:** By 4 PM on the first day, the issue was oversubscribed by 51.46 times—51.50 times for non-institutional investors, 84.89 times for retail investors, and 1.37 times for qualified institutional buyers. 72,000 shares are reserved for employees.
– **Company’s Background:** Lakshya Powertech provides EPC services for diverse needs in the oil and gas, power generation, and renewable energy sectors. It started in 2012 as an engineering consultancy specializing in mechanical and electrical services.
– **Funding Details:** Before the IPO, the company raised ₹13.39 crores from anchor investors, led by Rajesh Enne and Priya Bandhavi Enne.
– **Market Performance:** In the grey market, shares are trading at a premium of 93.89% over the upper price band of ₹180, suggesting a potential listing price of ₹349.
– **Disclaimer:** The article advises potential investors to seek expert advice, as market investments entail risks.
**Additional Note:** The article highlights that many of the top 30 biggest IPOs have struggled to provide significant returns, drawing attention to the Hyundai IPO’s performance as well.
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