LT Elevator IPO commenced on Friday, September 12 and will conclude on Tuesday, September 16. LT Elevator IPO price band has been set at ₹76 to ₹78 equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,600 equity shares and in multiples of 1,600 shares thereafter.
LT Elevator delivers high-quality elevator system solutions, emphasizing exceptional service, engineering, and technical expertise.
The company provides a full range of solutions, which includes elevator manufacturing, installation, commissioning, and annual maintenance services. LT Elevator offers EPC (engineering, procurement, construction) and O&M (operations, maintenance) services, adhering to a “Customer First Philosophy.”
Their product range features innovative modular designs, advanced engineering, and round-the-clock service support.
The company maintains an in-house testing laboratory for quality assurance, overseen by qualified professionals. They combine professional management with technology to improve performance, leveraging industry knowledge and proven experience to serve our customers effectively.
As per red herring prospectus, the company’s sole listed peer is Aaron Industries Ltd (with a P/E of 43.54).
LT Elevator IPO subscription status
LT Elevator IPO subscription status is 53% on day 1 so far, as per chittorgarh.com. The retail portion was subscribed 59%, and NII portion was booked 1.07 times. The qualified institutional buyers portion is yet to receive bids.
The company has received bids for 17,66,400 shares against 33,58,400 shares on offer on the second bidding day, at 15:23 IST, according to data on chittorgarh.com.
LT Elevator IPO details
The initial public offering will involve the issuance of 50.5 lakh shares. Out of this total, 47.9 lakh shares are allocated for the public, 2.5 lakh for market makers, and the remainder for qualified institutional buyers and high-net-worth individuals.
The company intends to allocate ₹20 crore of the net proceeds for working capital, ₹8.8 crore for investments in its subsidiary Park Smart Solutions, and the remaining amount for general corporate needs.
Horizon Management is serving as the lead book manager for the IPO, while Cameo Corporate Services has been chosen as the registrar.
LT Elevator IPO GMP today
LT Elevator IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹78 with no premium or discount in the grey market according to investorgain.com.
‘Grey market premium‘ indicates investors’ readiness to pay more than the issue price.
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