The eagerly awaited Lakshya Powertech IPO allotment has now been finalized, following a massively oversubscribed offering that attracted strong interest from all categories of investors. The IPO, which closed for subscription last week, garnered an overwhelming 573.36 times subscription, making it one of the most highly anticipated listings in the small and medium enterprise (SME) segment.
The IPO offered ₹49.91 crore worth of shares, with the price band set between ₹171 to ₹180 per share. Investors rushed to participate, leading to record-high bids from both institutional and retail investors. The allotment has been done on a proportional basis for retail investors, meaning that while demand was incredibly high, not all applicants were successful in receiving shares.
A Closer Look at the Subscription Numbers
- Non-Institutional Investors (NII): Subscribed 1,117.75 times
- Retail Investors: Subscribed 590.26 times
- Qualified Institutional Buyers (QIB): Subscribed 212.18 times
The overwhelming response from investors has set the stage for a highly anticipated listing on October 23, 2024, with the company’s shares expected to debut at a significant premium.
How to Check Your Allotment Status
If you applied for shares in the Lakshya Powertech IPO, there are several ways to check your allotment status. You can visit either the KFintech or BSE websites and follow the steps below:
Step-by-Step Guide: How to Check Lakshya Powertech IPO Allotment Status
- KFintech:
- Visit the KFintech website.
- Select “Lakshya Powertech Limited” from the list of IPOs.
- Choose one of the three options: Application Number, Demat Account, or PAN.
- Enter the relevant details and captcha.
- Click “Submit” to view your allotment status.
- BSE:
- Go to the BSE website and navigate to the IPO allotment status page.
- Log in with your username and password.
- From the dropdown list, select “Lakshya Powertech Limited.”
- Verify your PAN details and enter your IPO application number.
- Click “Submit” to check your allotment.
For those who were not allotted shares, refunds will be processed on October 22, the same day that shares will be credited to the successful applicants’ demat accounts.
Lakshya Powertech IPO Details
| Particulars | Details |
|---|---|
| IPO Size | ₹49.91 crore |
| Price Band | ₹171 to ₹180 per share |
| IPO Subscription (Overall) | 573.36 times |
| Non-Institutional Investor Bids | 1,117.75 times |
| Retail Investor Bids | 590.26 times |
| Qualified Institutional Bids | 212.18 times |
| Allotment Date | October 22, 2024 |
| Refund Date (for unsuccessful) | October 22, 2024 |
| Demat Credit Date | October 22, 2024 |
| Listing Date | October 23, 2024 |
| Expected Listing Price | ₹370 (based on GMP) |
| Grey Market Premium (GMP) | ₹190 per share (as of October 21, 2024) |
Lakshya Powertech IPO Grey Market Premium (GMP)
The grey market premium (GMP) for Lakshya Powertech shares suggests a strong listing day performance. As of October 21, 2024, the shares are commanding a premium of ₹190 per share over the issue price of ₹180. This implies that the shares could list at around ₹370, representing a potential gain of 105.56% for investors.
While GMP is not an official metric and fluctuates based on market sentiment, it often serves as an indicator of how an IPO may perform on its listing day. For Lakshya Powertech, the high GMP signals strong investor confidence in the company’s future prospects.
What to Expect on Listing Day
With the IPO oversubscribed by over 573 times and the GMP pointing to a significant premium, Lakshya Powertech could deliver multibagger returns for those lucky enough to have received an allotment. The company operates in the power technology sector, which has seen robust growth in recent years, particularly with the increasing emphasis on renewable energy solutions.
The listing on October 23, 2024, will take place on both the BSE SME platform and the NSE, and investors are expecting a blockbuster debut. However, as with any stock market investment, it’s important to exercise caution and consider your long-term financial goals before making any buying or selling decisions.
Final Thoughts
The Lakshya Powertech IPO has captured the attention of investors across all categories due to its impressive subscription numbers and promising outlook. As shares are set to be credited to demat accounts on October 22, all eyes are now on the listing day. If the grey market premium holds, early investors could see substantial gains.
Disclaimer
This article is based on information available as of October 2024 and is intended for informational purposes only. Market conditions can change rapidly, and investors should perform their own due diligence before making any investment decisions.
