Lakshya Powertech, a prominent name in the engineering sector, specializes in offering tailored EPC services for the oil and gas, power generation, and renewable energy sectors. With a relentless pursuit of excellence, the company has carved a niche in fabricating and manufacturing critical engineering and process equipment. This dedication to quality and innovation has propelled Lakshya Powertech to a prominent position in the market, both domestically and internationally.

As part of its growth strategy, Lakshya Powertech is launching an IPO with a total issue amounting to ₹49.91 Crores, consisting entirely of a fresh issue of 27.72 lakh shares. The subscription period for the Lakshya Powertech IPO opens today, October 16, 2024, and will close on October 18, 2024. Allotments are expected to be finalized on or about October 21, 2024, with shares scheduled for listing on the NSE SME on or around October 23, 2024. This IPO presents an exciting opportunity for investors looking to enter the energy sector.

The share price band for the Lakshya Powertech IPO is set between ₹171 and ₹180 per equity share, with a minimum lot size of 800 shares. Retail investors need to invest a minimum of ₹1,44,000, while High-Net-Worth Individuals (HNIs) must invest in a minimum of 2 lots (1,600 shares), totaling ₹2,88,000. The structured pricing and lot sizes make it accessible for both retail and institutional investors.

GYR Capital Advisors Private Limited acts as the book-running lead manager, ensuring the IPO's smooth execution, while KFin Technologies Limited serves as the registrar for the issue. Additionally, Giriraj Stock Broking Private Limited will function as the market maker for the Lakshya Powertech IPO, enhancing liquidity for the shares post-listing.

Lakshya Powertech Limited IPO GMP Today

The Grey Market Premium (GMP) for Lakshya Powertech Limited IPO is currently expected to be ₹120. It’s important to note that no real trading occurs based on the Grey Market Premium, and it does not provide an accurate price discovery mechanism before the listing of shares on the stock exchange. The GMP primarily reflects demand and supply dynamics within the unorganized market. Thus, it should be considered for educational and informational purposes only.

Lakshya Powertech Limited IPO Live Subscription Status Today: Real-Time Updates

As of 4:30 PM on October 16, 2024, the live subscription status indicates that the Lakshya Powertech IPO has been subscribed 52.23 times on its first day. Investors can track the Lakshya Powertech India IPO Live Subscription Status at NSE for real-time updates.

Lakshya Powertech Limited IPO Anchor Investors Report

Lakshya Powertech has successfully raised ₹13.39 Crores from anchor investors, with shares allocated at a price of ₹180 per share, following consultations with the book-running lead managers. A total of 7,44,000 equity shares have been allocated to these investors. The number of shares allotted to anchor investors will be taken from the Qualified Institutional Buyers (QIBs) reservation portion.

Note that the number of shares offered in the IPO subscription section is calculated at the lower end of the price band, while shares calculated in the IPO details section are at the upper end. This discrepancy is because shares are issued at the upper band for anchor investors.

Lakshya Powertech Limited IPO Allotment Date - Step-by-Step Guide to Check Allotment Status Online

The allotment date for Lakshya Powertech IPO is set for October 21, 2024. Investors can check their allotment status online by following these simple steps:

Navigate to the IPO allotment status page.

Select Lakshya Powertech Limited IPO from the dropdown list of IPOs.

Enter your application number, PAN, or DP Client ID.

Submit the details to check your allotment status.

By following these steps, investors can efficiently determine their allotment status and plan their next moves accordingly.

Objectives of Lakshya Powertech Limited IPO

The proceeds from the fresh issue will be utilized for various strategic objectives:

₹450 Lakhs will be allocated for the prepayment or repayment of certain outstanding borrowings availed by the company.

₹3,000 Lakhs will be earmarked for funding working capital requirements of the company.

General corporate purposes will also be a priority for utilizing the funds raised.

Lakshya Powertech IPO Review

The company's journey is guided by experienced promoters, Mr. Rajesh Anne and Mrs. Priya Bandhavi Anne, whose leadership has been crucial in navigating the competitive landscape of the EPC sector.

Looking at the financials, the revenues from operations for the period ended August 31, 2024, stand at ₹5,815.38 Lakhs, compared to ₹14,941.92 Lakhs in FY24, ₹5,311.21 Lakhs in FY23, and ₹3,421.39 Lakhs in FY22. The EBITDA for the period ended August 31, 2024, is ₹947.27 Lakhs, reflecting a significant increase from previous years. The profit after tax for the same period is ₹597.11 Lakhs, up from ₹1,567.77 Lakhs in FY24 and continuing to show growth.

For this IPO, the company is issuing shares at a pre-issue EPS of ₹21.75 and a post-issue EPS of ₹15.54. The pre-issue P/E ratio is 8.27x, while the post-issue P/E ratio is 11.58x against an industry P/E ratio of 38.71. The company's ROCE for FY24 is 36.56%, and ROAE for FY24 is 81.77%. These financial metrics suggest that the IPO is fairly priced in comparison to industry benchmarks.

Moreover, the Grey Market Premium (GMP) indicates potential listing gains of 66%, positioning Lakshya Powertech as a compelling investment opportunity. Given the company's robust financial performance and attractive valuation, we recommend investors apply for the Lakshya Powertech Limited IPO for potential listing gains or long-term investment purposes.

Conclusion

Investors looking to enter the energy sector have a promising opportunity with the Lakshya Powertech IPO. With substantial financial backing and a clear strategic plan for the use of funds, this IPO is worth considering for both immediate gains and long-term investment growth.

The current active IPO is Lakshya Powertech Limited IPO, Hyundai Motor India Limited.

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