Lakshya Powertech is launching an IPO with a total issue size of Rs 49.91 crores, consisting entirely of a fresh issue of 27.73 lakh shares.
The IPO will open for subscription on October 16, 2024, and close on October 18, 2024. The allotment is expected to be finalized on Monday, October 21, 2024, and the listing is tentatively scheduled for Wednesday, October 23, 2024, on the NSE SME platform.
The price band is set between ₹171 and ₹180 per share. Investors must apply for a minimum lot size of 800 shares, with retail investors needing to invest at least ₹144,000. High net-worth individuals (HNIs) must apply for at least 2 lots (1,600 shares), requiring a minimum investment of ₹288,000.
The IPO includes a reservation of up to 72,000 shares for employees, offered at a discount of ₹15 per share.
GYR Capital Advisors Private Limited is the lead manager, with KFin Technologies Limited serving as the registrar. Giriraj Stock Broking will act as the market maker for the IPO.
Below are the details of Lakshya Powertech IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Lakshya Powertech Details
| IPO Date | October 16, 2024 to October 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹171 to ₹180 per share |
| Lot Size | 800 Shares |
| 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) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 7,311,120 |
| Share holding post issue | 10,083,920 |
| Market Maker portion | 148,000 shares |
Lakshya Powertech Timeline
| 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 |
| Listing Date | Wednesday, October 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 18, 2024 |
Lakshya Powertech Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
Lakshya Powertech Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Lakshya Powertech Financial Information
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 9,415.91 | 8,246.31 | 3,334.85 | 1,758.89 | ||||||||||||||||||||||||||||||||||||
| Revenue | 5,815.38 | 14,941.92 | 5,311.21 | 3,421.39 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 597.11 | 1,567.77 | 271.09 | 104.58 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 3,770.8 | 3,173.71 | 660.98 | 389.89 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 3,039.69 | 2,442.6 | 650.98 | 379.89 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 2,916.59 | 2,900.04 | 1,448.67 | 590.43 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Lakshya Powertech Review
Founded in 2012, Lakshya Powertech Limited began as an engineering consultancy firm specializing in mechanical and electrical services. It quickly grew from providing freelance power generation consultancy to offering operations and maintenance (O&M) services for gas-fired power plants and large-scale power generation projects.
The company expanded its service offerings by entering the oil and gas sector, strengthening its position within the industry. Notably, it secured an EPC contract in Malaysia’s renewable energy sector and increased its presence in oil and gas plant maintenance and repair, marking its global footprint.
Lakshya Powertech’s services are categorized into four key areas: (i) Engineering, Procurement, Construction, and Commissioning (EPCC); (ii) Integrated Operation and Maintenance Services; (iii) Specialty Services.
With over 138 completed projects, the company’s major undertakings are valued at approximately Rs 13,690.68 lakhs.
Competitive Strengths:
- Extensive project management expertise, with a focus on quality, safety, cost efficiency, and timely execution
- Strong growth driven by a solid order book and excellent pre-qualification credentials
- Integrated operational and management services delivered by experienced professionals
- Involvement in various industries and economies
- Sustainable growth and robust financial performance
- Expanding EPCC contracts alongside renewable energy initiatives
- Active bidding for new projects
- Strong relationships with customers and suppliers
- Ability to attract and retain skilled employees
- Enhanced operational controls to ensure timely service delivery
Lakshya Powertech works with both public and private sector clients, including notable companies such as Gmmco Limited, Equinox Engineering Limited, and several government institutions.
As of May 31, 2024, the company employed 912 individuals.