Ricardo Elevators targets 40 touchpoints by December 2026

Ricardo Elevators, a brand under L.T. Elevator Limited , is accelerating its domestic and international expansion with a target to establish 40 customer touchpoints by December 2026. The strategy encompasses company-operated experience centres, dealer showrooms, and overseas country partnerships. This initiative aims to build a full omni-channel home elevator platform, significantly increasing the brand's physical presence across India and key global markets.

The company has inaugurated new Experience Centres in Lucknow and Jammu, bringing its total operational count in India to 21. The Jammu centre was inaugurated by Sh. Surinder Kumar Choudhary, Hon'ble Deputy Chief Minister of J&K. Additionally, three more centres are in the pipeline, expected to open within the next two months in Pune, Goa, and Visakhapatnam. Each mature store is expected to contribute ₹6+ Crore in annual revenue.

International Regulatory Approval and Expansion

Ricardo Elevators (Aus & NZ) Pty Ltd has received the Plant Design Registration Certificate from SafeWork NSW, a prerequisite for selling and installing elevators in New South Wales, Australia. The certification covers the RALPH200R Machine-Room-Less (MRL) Home Lift, which has a rated load of 300 kg and a maximum travel of 12 metres. Following this approval, the company has secured 3 confirmed orders from Australian customers.

Detail	Specification
Model	RALPH200R — Machine-Room-Less (MRL) Home Lift
Type	Goods / Passenger · Electric / Traction · Automatic Control
Rated Load	300 kg · Maximum 4 passengers
Max Travel	12 metres · Speed: 0.3 m/s
Standard	AS/NZS 1735.18-2002
Manufacturer	L.T. Elevator Limited (India)
Registrant	Ricardo Elevators (Aus & NZ) / Ricardo Elevators Pty Ltd

Exports have also commenced to Malaysia, with confirmed orders currently being executed. The company is leveraging its powder-coated Malaysian Shaft, designed for pitless and headroom-free installations, to differentiate itself in the Southeast Asian market.

Global Partnership Pipeline

Ricardo Elevators is actively pursuing partnerships to expand its footprint in the Middle East and Southeast Asia. The company is in discussions to appoint country partners in several geographies, with agreements expected to be formalised over the remainder of 2026.

Location	Status / Milestone
Dubai / UAE	Country partner discussions underway
Oman	In pipeline
Thailand	In pipeline
Indonesia	In pipeline

Mr. Yash Gupta, Director of L.T. Elevator Limited, stated that the company is building a showroom experience for home elevators that embodies product knowledge and design sophistication. The expansion strategy focuses on markets with growing premium housing stock and regulatory receptivity to Indian engineering exports.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.72%	+6.88%	+42.68%	+33.03%	+70.78%	+70.78%

L.T. Elevator Limited has announced the convening of an Extra Ordinary General Meeting (EGM) on June 13, 2026, to seek shareholder approval for a preferential issue of equity shares and fully convertible warrants. The meeting, to be held via video conference, will consider resolutions to increase the company's authorized share capital and alter its Articles of Association to facilitate the fundraise.

Preferential Allotment Details

The Board of Directors has approved the issuance of up to 21,27,563 equity shares and 5,31,914 fully convertible warrants on a preferential basis to non-promoter investors. The equity shares and warrants are priced at ₹188 per unit, comprising a face value of ₹10 and a premium of ₹178. The total consideration for the equity shares is expected to be up to ₹39,99,81,844, while the warrants are expected to raise up to ₹9,99,99,832.

Proposed Allottees

The securities will be allotted to a mix of institutional investors and individuals. Major allottees include Bandhan Small Cap Fund, Motilal Oswal Financial Services Limited, and Gracious Advisors LLP. The table below details the proposed allocation:

Sr. No.	Name of the Proposed Allottee	Maximum No. of Equity Shares	Maximum No. of Warrants
1.	Bandhan Small Cap Fund	10,80,000	-
2.	Motilal Oswal Financial Services Limited	2,65,957	2,65,957
3.	Gracious Advisors LLP	2,65,957	2,65,957
4.	Ajay kumar Agarwal	1,32,978	-
5.	Aditi Chhaparwal	84,800	-
6.	Shyam Sunder Jaju	79,787	-
7.	Nine Alps Trust	39,893	-
8.	Vira AIF Trust	39,893	-
9.	Sandeep Singh	26,596	-
10.	Taori Amol Babulalji (HUF)	26,596	-
11.	Rainbow Agri Commodities Pvt. Ltd.	26,596	-
12.	Amit R. Agarwal	26,596	-
13.	Nirvair Lalwani	15,957	-
14.	Rohit Ramasubramanian HUF	15,957	-
Total		21,27,563	5,31,914

Objects of the Issue

The company plans to utilize the net proceeds for setting up a new factory, funding inorganic growth through acquisitions, and meeting general corporate purposes. The capital expenditure for the new factory is expected to be incurred during the financial year 2027-28, while funds for acquisitions are planned for 2026-27.

Capital Structure Changes

To accommodate the issuance, the company proposes to increase its authorized share capital from ₹20 crore to ₹22 crore by creating an additional 20 lakh equity shares of ₹10 each. Additionally, the Articles of Association will be altered to include enabling provisions for issuing convertible securities. The warrants are convertible into equity shares within 18 months from the date of allotment.