Mon Oct 21 04:37:47 UTC 2024: Here’s a summary of the key points from the article regarding the IPO of Lakshya Powertech Ltd.:

– **IPO Launch**: Lakshya Powertech Ltd. opened its IPO for subscription on October 16, aiming to raise Rs 49.91 crore through a fresh issue of 27,72,800 shares.

– **Investor Interest**: The IPO saw significant demand, being subscribed over 60 times on Day 1 and more than 160 times by the end of Day 2. Retail investors showed the highest subscription levels.

– **Subscription Details**: As of 5:11 p.m. on Thursday, the IPO was subscribed 165.88 times, with qualified institutional buyers (12.78 times) and non-institutional buyers (205.88 times) contributing to the high demand.

– **Grey Market Premium**: The grey market premium stood at Rs 172, suggesting a listing premium of about 95.56% over the issue price. The IPO price band is fixed at Rs 171 to Rs 180 per share, with a minimum lot size of 800 shares.

– **Bidding Window**: The bidding for the IPO remains open until October 18, 2023. Allocation of shares will conclude on October 21, with expected listing on the NSE SME platform on October 23.

– **Share Reservation**: The shares offered include reserved portions for qualified institutional buyers (18.87%), non-institutional investors (14.24%), retail investors (32.22%), and anchor investors (26.75%), with an additional 72,000 shares reserved for company employees at a discount.

– **Company Background**: Established in 2012, Lakshya Powertech Ltd. offers engineering, procurement, construction, and commissioning services, specializing in the oil and gas, power, and renewable energy sectors.

– **Financial Performance**: For the period ending August 31, 2024, Lakshya reported revenues of Rs 57.8 crore and a PAT of Rs 5.97 crore. For FY24, revenues rose by over 179% to Rs 148.13 crore, and PAT increased by more than 478% to Rs 15.67 crore compared to the previous year.

– **Use of Funds**: The capital raised from the IPO is earmarked for debt settlement, working capital requirements, and other general corporate purposes.

Investors are advised to review the IPO prospectus and consult financial advisors regarding the potential risks and rewards of investing.

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