Bucking the trend of recent slowdown in SME IPOs, Lakshya Powertech's issue has been garnering strong demand from investors. The issue, which opened for bidding earlier today, was already subscribed 30 times.
This demand was driven by retail investors, whose category was booked over 50 times, followed by non-institutional investors at 24 times.
The company's shares are commanding a GMP of Rs 169 in the unlisted market, which indicates a premium of 94%. However, it should be noted that the listing price is capped at 90%.
The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.
The company started its journey as a freelancing consultancy in power generation and rapidly transitioned into a multifaceted entity with a robust expansion into operations and maintenance (O&M) for gas power generation.
Also Read: Hyundai Motor IPO Live Updates: Hyundai Motor IPO subscription status on Day 2; check GMP, price band, key dates and other details here
Lakshya Powertech started as an engineering consultancy and contracting Company, distinguished for its expertise in mechanical and electrical services. It rapidly transitioned into a multifaceted entity with a robust expansion into operations and maintenance (O&M) for gas power generation.
The company strategically expanded its operations by delving into power generation projects, a move that was strengthened by the entry into the oil and gas sector.
This diversification not only broadened the scope of the company's services but also solidified our position in the industry.
According to the Central Electricity Authority (CEA), the share of renewable energy generation would increase from 18% to 44% by 2029-30 and thermal is expected to see a reduction from 78% to 52%.
The government of India plans to establish a renewable capacity of 500 GW by 2030 and has allocated $1.4 trillion under the National Infrastructure Pipeline for FY 2019-25.
GYR Capital Advisors is acting as the lead manager to the issue and Kfin Technologies is the registrar.
This demand was driven by retail investors, whose category was booked over 50 times, followed by non-institutional investors at 24 times.
The company's shares are commanding a GMP of Rs 169 in the unlisted market, which indicates a premium of 94%. However, it should be noted that the listing price is capped at 90%.
The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.
The company started its journey as a freelancing consultancy in power generation and rapidly transitioned into a multifaceted entity with a robust expansion into operations and maintenance (O&M) for gas power generation.
Also Read: Hyundai Motor IPO Live Updates: Hyundai Motor IPO subscription status on Day 2; check GMP, price band, key dates and other details here
Lakshya Powertech started as an engineering consultancy and contracting Company, distinguished for its expertise in mechanical and electrical services. It rapidly transitioned into a multifaceted entity with a robust expansion into operations and maintenance (O&M) for gas power generation.
The company strategically expanded its operations by delving into power generation projects, a move that was strengthened by the entry into the oil and gas sector.
This diversification not only broadened the scope of the company's services but also solidified our position in the industry.
According to the Central Electricity Authority (CEA), the share of renewable energy generation would increase from 18% to 44% by 2029-30 and thermal is expected to see a reduction from 78% to 52%.
The government of India plans to establish a renewable capacity of 500 GW by 2030 and has allocated $1.4 trillion under the National Infrastructure Pipeline for FY 2019-25.
GYR Capital Advisors is acting as the lead manager to the issue and Kfin Technologies is the registrar.
You may also like
Starlink Sets Its Sights on India: Musk's Vision for Better Connectivity
'I tried the new McDonald's mini hash browns - I have one major issue with them'
The best value gaming headset is about to get even better
Mappable forms strategic partnerships with Fujairah GIS Center, Emirates Transport and Emarat at GITEX 2024
Amanda Holden sparks BGT outrage as 'fake' announcement heard in background of new video
Kyran Durnin's mum left chilling note behind on table before vanishing with her son, 8
BSF seizes 2.75 kg gold along Indo-B'desh border, 3 farmers held
My 70-year-old dad swears by this M&S thermal top for keeping him warm in winter
Meet the mind guru helping 'goofy and loving' Wigan Warriors boss Matt Peet
'No Stick-Waving Or Aggressive Gestures': Omar Abdullah, In First Move As J&K CM, Sets New VIP Protocol
New Zealand exempts abuse victims from forced 2-year wait before they can seek divorce
Four Bangladeshis arrested along IBB with fake Aadhaar cards
Lionel Scaloni comments after Lionel Messi hat-trick sum it all up as retirement hint dropped
Sensex Slips 319 Points, Nifty Dips Below 25K: Auto & IT Stocks Drag
SCO meeting: Pakistan PM Shehbaz Sharif stays silent on Kashmir
Govt approves Rs 35,000 cr for PM Annadata Aay Sanrakshan Abhiyan
'My son has come back': Murdered fan Renukaswamy's father as grandson born
Alastair Cook, Neetu David And AB De Villiers Inducted Into The ICC Hall Of Fame As Class Of 2024
'Stylish' ankle wellies are 'so comfortable and a godsend in wet weather' - and under £20
Diwali BONANZA! Haryana anganwadi workers salary hike announced ahead of festival