Lakshya Powertech IPO is an exciting upcoming IPO that opens for subscription from October 16 to October 18, 2024. This IPO investment opportunity offers a fresh issue of 27.73 lakh shares, aiming to raise Rs 49.91 crores. The price band is set between ₹171 and ₹180 per share, with a minimum lot size of 800 shares, translating to an investment of ₹144,000 for retail investors. HNI investors can apply for two lots at ₹288,000. With GYR Capital Advisors as the lead manager and Giriraj Stock Broking as the market maker, Lakshya Powertech will list on the NSE SME on October 23, 2024, giving investors a new opportunity to explore.
Lakshya Powertech's IPO opens on October 16, 2024, with a price band of ₹171 to ₹180 per share. The minimum lot size is 800 shares, requiring an investment of ₹144,000 for retail investors. HNIs can apply for 2 lots at ₹288,000. The IPO will close on October 18, 2024.
| Lakshya Powertech Limited IPO date | October 16, 2024 to October 18, 2024 |
| Lot size | 800 Shares |
| Face value | ₹10 per share |
| Total issue size | 2,772,800 shares(aggregating up to ₹49.91 Cr) |
| Fresh issue | 2,772,800 shares(aggregating up to ₹49.91 Cr) |
| Price band | ₹171 to ₹180 per share |
| Share holding pre issue | 7,311,120 |
| Share holding post issue | 10,083,920 |
| Employee discount | Rs 15 per share |
| Issue type | Book Built Issue IPO |
| Market maker portion | 148,000 shares |
| Listing at | NSE SME |
Lakshya Powertech Limited's IPO opens on October 16, 2024, and closes on October 18, 2024. The allotment is expected to be finalised on October 21, 2024, with a listing date scheduled for October 23, 2024, on the NSE SME. This IPO offers a fresh issue of 27.73 lakh shares.
| IPO open date | Wednesday, October 16, 2024 |
| IPO close date | Friday, October 18, 2024 |
| Basis of allotment | Monday, October 21, 2024 |
| Initiation of refunds | Tuesday, October 22, 2024 |
| Credit of shares to demat | Tuesday, October 22, 2024 |
| Tentative listing date | Wednesday, October 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 18, 2024 |
Established in 2012, Lakshya Powertech Limited began as an engineering consultancy firm specialising in electrical and mechanical services. It soon expanded into operations and maintenance (O&M) for gas-fired power plants and large power projects. The company's growth into the oil and gas sector and renewable energy, with an EPC contract in Malaysia, highlighted its global presence.
Lakshya Powertech offers services in Engineering, Procurement, Construction, Commissioning (EPCC), Integrated O&M, and Specialty Services. With over 138 projects completed, totalling Rs 13,690.68 lakhs, the company boasts competitive strengths such as project management expertise, a solid order book, and EPCC expansion into green energy. The company serves major public and private sector clients, employing 912 people as of May 2024.
As of August 31, 2024, Lakshya Powertech's key performance indicators (KPI) reflect a strong financial position. With a market capitalisation of Rs 181.51 Cr, the company's ROE stands at 16%, ROCE at 13.41%, and Debt/Equity ratio at 0.83. The PAT margin is 10.33%, with a P/BV of 3.49 and RoNW of 15.84%.
The company's EPS was 21.44 pre-IPO, dropping to 14.21 post-IPO, with a P/E ratio of 12.67 post-issue. The IPO proceeds will be used to repay borrowings, fund working capital, and general corporate purposes, positioning the company for further growth.
| Period ended | August 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Profit after tax | 597.11 | 1,567.77 | 271.09 | 104.58 |
| Revenue | 5,815.38 | 14,941.92 | 5,311.21 | 3,421.39 |
| Assets | 9,415.91 | 8,246.31 | 3,334.85 | 1,758.89 |
| Net worth | 3,770.80 | 3,173.71 | 660.98 | 389.89 |
| Total borrowing | 2,917 | 2,900.04 | 1,448.67 | 590.43 |
| Reserves and surplus | 3,039.69 | 2,442.60 | 650.98 | 379.89 |
| Amount in ₹ Lakhs | ||||
Its extensive project management expertise strengthens Lakshya Powertech Limited robust order book and integrated operational services. The company's diversified presence across various industries ensures strong financial performance and sustainable growth. However, its dependence on specific sectors like power generation and oil & gas, along with potential overreliance on key clients, could be weaknesses. Opportunities for Lakshya Powertech include:
Despite these opportunities, the company faces threats such as intense competition in the engineering and construction sectors, economic fluctuations impacting project investments, and regulatory changes in the power and oil & gas industries.
Lakshya Powertech Limited IPO SME offers an exciting opportunity for investors, particularly in the rapidly growing sectors like renewables and green energy. With the last GMP standing at ₹51, the estimated listing price is ₹231, indicating a potential gain of 28.33% per share.
The company boasts strong financials, a robust order book, and expansion into emerging markets, making it well-positioned for future growth. However, investors should remain aware of sector dependencies and competition. As one of the notable upcoming IPOs, this investment could provide substantial returns and diversify your portfolio, offering access to a thriving business in engineering and construction.
The Lakshya Powertech IPO is an SME initial public offering consisting of 2,772,800 equity shares with a face value of ₹10, aiming to raise to ₹49.91 crores. The price per share is set between ₹171 and ₹180, with a minimum order requirement of 800 shares. The IPO will be open for subscription from October 16 to October 18, 2024. Kfin Technologies Limited is serving as the registrar for the offering, and the shares are expected to be listed on the NSE SME.
The Lakshya Powertech IPO will open for subscription on October 16, 2024, and will close on October 18, 2024.
The Lakshya Powertech IPO listing date is yet to be officially announced. However, the tentative listing date is set for Wednesday, October 23, 2024.
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