Lakshya Powertech specializes in offering tailored EPC services for the oil and gas, power generation, and renewable energy sectors, both domestically and globally. Their relentless pursuit of excellence has allowed them to carve a distinctive niche in fabricating and manufacturing critical engineering and process equipment.

Investment Details

The Lakshya Powertech IPO is a Book Built Issue amounting to ₹49.91 Crores, consisting entirely of a Fresh Issue of 27.72 Lakh Shares. The subscription period opens on October 16, 2024, and closes on October 18, 2024. The allotment is expected to be finalized on or about October 21, 2024, with shares listed on the NSE SME around October 23, 2024.

The share price band is set at ₹171 to ₹180 per equity share, with a minimum lot size of 800 shares. Retail investors must invest a minimum of ₹1,44,000, while High-Net-Worth Individuals (HNIs) need to invest in 2 lots (1,600 shares), totaling ₹2,88,000.

GYR Capital Advisors Private Limited is the book-running lead manager, KFin Technologies Limited is the registrar for the issue, and Giriraj Stock Broking Private Limited will act as the market maker for the IPO.

Grey Market Premium and Allotment Status

The Grey Market Premium (GMP) for Lakshya Powertech IPO is currently estimated at ₹120, reflecting investor sentiment based on the company's financial performance and subscription status. It's important to note that trading based on GMP is speculative and does not guarantee price discovery prior to listing. The GMP is mentioned for educational and informational purposes only.

As of 10:15 AM on October 18, 2024, the live subscription status shows that the IPO has been subscribed 181.57 times on its third day of the subscription period.

Anchor Investors Report: Lakshya Powertech has raised ₹13.39 Crores from anchor investors at a price of ₹180 per share, allocating 7,44,000 equity shares to them.

Objectives of the Lakshya Powertech IPO

Proceeds from the Fresh Issue will be utilized for:

₹450.00 Lakhs for the prepayment or repayment of certain outstanding borrowings.

₹3,000.00 Lakhs for funding working capital requirements.

General corporate purposes.

Company Overview and Financial Performance

Lakshya Powertech is led by experienced promoters, Mr. Rajesh Anne and Mrs. Priya Bandhavi Anne.

The company's revenues from operations for the period ended August 31, 2024, and fiscal years 2024, 2023, and 2022 were ₹5,815.38 Lakhs, ₹14,941.92 Lakhs, ₹5,311.21 Lakhs, and ₹3,421.39 Lakhs, respectively. The EBITDA figures for the same periods were ₹947.27 Lakhs, ₹2,318.64 Lakhs, ₹477.66 Lakhs, and ₹201.70 Lakhs, respectively. The Profit After Tax (PAT) for the period ending August 31, 2024, and fiscal years 2024, 2023, and 2022 were ₹597.11 Lakhs, ₹1,567.77 Lakhs, ₹271.09 Lakhs, and ₹104.58 Lakhs, respectively.

For the Lakshya Powertech IPO, the pre-issue Earnings Per Share (EPS) is ₹21.75, and the post-issue EPS is ₹15.54. The pre-issue Price-to-Earnings (P/E) ratio is 8.27x, while the post-issue P/E is 11.58x, compared to the industry P/E ratio of 38.71. The company's Return on Capital Employed (ROCE) for FY24 is 36.56%, and Return on Equity (RoE) is 81.77%, indicating that the IPO is fairly priced.

The Grey Market Premium (GMP) for Lakshya Powertech suggests potential listing gains of 66%. Given the company's financial performance and IPO valuation, we recommend investors to apply for the Lakshya Powertech Limited IPO for listing gains or long-term investment purposes.

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