Mumbai: Ahmedabad-based Lakshya Powertech Limited (the “Company”), Initial Public (“IPO” or “Offer”) to open on October 16 and will close on October 18. The company is engaged in the business of providing Engineering, Procurement, Construction, and Commissioning (EPCC) services, tailored for projects spanning the Oil and Gas, Power, Data centers, Industrial, and Renewable Energy sectors. For its IPO, the Company has fixed the price band of ₹171/- to ₹180/- per Equity Share of face value ₹10/- each for its IPO. The company has informed NSE that it allocated 7,44,000 equity shares at Rs. 180 per share on Tuesday, October 15, 2024, to anchor investors.
11 Marquee Anchor Investors have participated in the anchor portion viz. HDFC Bank Limited, Veloce AIF – Veloce Opportunities Fund, PARADISE MOON INVESTMENT FUND I, Coeus Global Opportunities Fund, RAJASTHAN GLOBAL SECURITIES PRIVATE LIMITED, KNIGHTSTONE CAPITAL LLP, Vikasa India EIF I Fund – Incube Global Opportunities, FINAVENUE CAPITAL TRUST - FINAVENUE GROWTH FUND, AL MAHA INVESTMENT FUND PCC-ONYX STRATEGY, Saint Capital Fund, and ABUNDANTIA CAPITAL VCC- ABUNDANTIA CAPITAL III
- Issue size: ₹ 49.91 Cr (upper price band).
- Lot Size: 800 Equity Shares
- Net QIB Quota: Upto 5,16,800 Equity Shares
- NII Quota: Upto 3,96,000 Equity Shares
- Retail Quota: Upto 8,96,000 Equity Shares
- Employee Quota: Upto 72,000 Equity Shares
- Market Maker Portion: 1,48,000 Equity Shares
The net proceeds from the fresh issuance worth ₹ 450.00 lakhs will be utilized towards Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, ₹ 3,000.00 Lakhs towards Funding working capital requirements of our Company and the balance for general corporate purposes.
With strong order books in hand the company is strategically positioned to meet the growing demands of Data centres and Renewable energy in India.
Over the years, company have successfully executed more than 138 projects with major completed projects quantifying to approximately ₹ 26,843.1 Lakhs. As of August 31, 2024, company has 45 major on-going projects, worth approximately ₹ 43,199 Lakhs has been confirmed and for which ₹ 26,595 Lakhs worth project execution is pending.
In addition to the EPCC proficiency, the company offer extensive Integrated Operation and Maintenance Services aimed at ensuring the sustained efficiency and longevity of their clients' Assets, further supported by specialized services such as testing & commissioning, overhauls, and refurbishing/retrofitting, ensuring optimal performance across multi-discipline and multi-sector projects and Trading operations. Incorporated in 2012, the company as on August 2024, has 907 employees on payroll.
The Company intends to strategically expand its operations by diversifying the offerings by leveraging its expertise in Data centres, Oil and Gas, and Renewable energy sector, Enhance the project execution capabilities, reaching new geographies and further establishing its Global reach.
In FY 24, the Company has achieved a revenue of ₹14,941.92 lakhs as against ₹ 5,311.21 lakhs in the FY23, reporting a growth of 181.33%. During the same period, the Company reported net profit of Rs. 1,567.77 lakhs as compared to Rs. 271.09 lakhs in FY 23, achieving a remarkable growth of 478.32%. The Company reported RoAE and ROE of 81.77% and 36.56% for FY 24.
GYR Capital Advisors Pvt. Ltd. is the sole book running lead manager and KFIN Technologies Ltd. is the registrar to the issue.