Lakshya Powertech IPO is a book built issue of Rs 49.91 crores. The issue is entirely a fresh issue of 27.73 lakh shares.
Lakshya Powertech IPO opens for subscription on October 16, 2024 and closes on October 18, 2024. The allotment for the Lakshya Powertech IPO is expected to be finalized on Monday, October 21, 2024. Lakshya Powertech IPO will list on NSE SME with tentative listing date fixed as Wednesday, October 23, 2024.
Lakshya Powertech IPO price band is set at ₹171 to ₹180 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹288,000.
The issue includes a reservation of up to 72,000 shares for employees offered at a discount of Rs 15 to the issue price.
GYR Capital Advisors Private Limited is the book running lead manager of the Lakshya Powertech IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Lakshya Powertech IPO is Giriraj Stock Broking.
Refer to Lakshya Powertech IPO RHP for detailed information.
Lakshya Powertech IPO 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 Giriraj Stock Broking |
Lakshya Powertech IPO 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 IPO Timeline (Tentative Schedule)
Lakshya Powertech IPO opens on October 16, 2024, and closes on October 18, 2024.
| 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 IPO Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
| Lot Size Calculator | |||
Lakshya Powertech IPO Promoter Holding
Mr. Rajesh Anne and Mrs. Priya Bandhavi Anne are the company’s promoters.
| Share Holding Pre Issue | 96.84% |
| Share Holding Post Issue |
About Lakshya Powertech Limited
Established in 2012, Lakshya Powertech Limited started as an engineering consultancy firm specializing in mechanical and electrical services. The company quickly expanded from freelance power generation consultancy into operations and maintenance (O&M) for gas-fired power plants and large power generation projects.
By diversifying into the oil and gas sector, the company expanded its services and strengthened its position in the industry. An EPC contract in the renewable energy sector in Malaysia and growth in oil and gas plant maintenance and repair marked the company’s global reach.
Lakshya Powertech’s services are divided into four main areas: (i) Engineering, Procurement, Construction, and Commissioning; (ii) Integrated Operation and Maintenance Services; (iii) Specialty Services.
The company has successfully executed more than 138 projects with the major projects completed amounting to approximately Rs. 13690.68 lakhs.
Competitive Strengths:
- Extensive expertise in project management focusing on excellence in quality, health, safety, cost efficiency, and timely execution
- Significant growth underpinned by a solid order book and excellent pre-qualification credentials
- Integrated operational and management services supported by experienced professionals
- Activities in various industries and economies
- Sustainable growth and strong financial performance
- Expansion of EPCC contracts alongside expansion into emerging renewables and green energy businesses
- Active bidding for new projects
- Building and maintaining close relationships with customers and suppliers
- Attracting and retaining talented employees
- Improve operational controls to ensure timely delivery of services
The company works with both public and private sector entities. The company’s clients include Gmmco Limited, Equinox Engineering Limited, and many other prestigious companies and government institutions.
As of May 31, 2024, the company had 912 employees on its payroll.
Company Financials
Lakshya Powertech Limited Financial Information (Restated)
Lakshya Powertech Limited’s revenue increased by 181% and profit after tax (PAT) rose by 478% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Lakshya Powertech IPO is Rs 181.51 Cr.
KPI as of August 31, 2024.
| KPI | Values |
|---|---|
| ROE | 16% |
| ROCE | 13.41% |
| Debt/Equity | 0.83 |
| RoNW | 15.84% |
| P/BV | 3.49 |
| PAT Margin (%) | 10.33 |
Check Lakshya Powertech IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 21.44 | 14.21 |
| P/E (x) | 8.39 | 12.67 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of August 31, 2024 that is available in RHP.
Objects of the Issue (Lakshya Powertech IPO Objectives)
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
- Funding working capital requirements of the Company; and
- General Corporate Purposes.
Lakshya Powertech IPO Prospectus
Lakshya Powertech Limited Contact Details
Lakshya Powertech Limited
A-620 & 621 Siddhivinayak Tower – A,
B/H DCP Office, Off. S.G. Highway,
Makarba, Jivraj Park, Ahmedabad – 380051
Phone: +91 9898577752
Email: investor@lakshyapowertech.com
Website: https://www.lakshyapowertech.com/
Lakshya Powertech IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: Lakshya.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/