LT Elevator, a leading elevator and smart parking solutions provider, is poised for a strong market debut on the BSE SME platform this Friday. The company's initial public offering (IPO) has generated significant investor interest, reflecting robust demand across various investor categories.

IPO Performance Highlights

• Subscription Rate: The Rs 39.37 crore IPO was oversubscribed by an impressive 182.95 times.
• Share Offering: 50.48 lakh shares were offered at a price band of Rs 76-78 per share.
• Investor Category Breakdown:
  • Retail investors: 158.90 times oversubscribed
  • Qualified Institutional Buyers (QIBs): 95.10 times oversubscribed
  • Non-institutional investors: 356.16 times oversubscribed

Grey Market Premium and Anchor Investment

• Grey Market Premium: The shares are commanding a 55% premium over the issue price in the grey market, indicating strong investor confidence.
• Anchor Investment: LT Elevator successfully raised Rs 11.21 crore from anchor investors at Rs 78 per share.

Company Financial Performance

LT Elevator has demonstrated strong financial growth:

Business Overview

LT Elevator specializes in manufacturing elevators and providing EPC (Engineering, Procurement, and Construction) services. The company operates from its facility in West Bengal, which has an annual production capacity of 800 elevators.

IPO Proceeds Allocation

The funds raised from the IPO will be utilized as follows:

• Working capital requirements: Rs 20 crore
• Investment in subsidiary: Rs 8.8 crore
• General corporate purposes: Remaining amount

With its strong subscription rates, healthy financial performance, and strategic allocation of IPO proceeds, LT Elevator appears well-positioned for its market debut on the BSE SME platform. Investors will be closely watching the stock's performance as it commences trading on Friday.

L.T. Elevator Ltd.'s initial public offering (IPO) in the SME segment has concluded with an extraordinary investor response, marking a significant milestone for the company. The IPO, which closed recently, witnessed an overwhelming demand from various investor categories, resulting in a substantial oversubscription.

Subscription Details

The IPO received bids for a staggering 61,44,22,400 shares against the 33,58,400 shares on offer, translating to an oversubscription of 182.95 times. This remarkable response underscores the strong investor interest in L.T. Elevator Ltd.

Breaking down the subscription data:

• Non-institutional buyers led the charge with a massive 356 times oversubscription
• Retail investors showed robust participation, oversubscribing their portion by 158 times

IPO Specifics

Grey Market Premium Indicates Strong Listing Potential

The grey market is showing significant enthusiasm for L.T. Elevator shares:

• Current Grey Market Premium: Rs 30
• Estimated Listing Price: Rs 108 per share
• Potential Listing Gains: 38.46% over the IPO price of Rs 78

Key Dates

Note: Listing will be on the BSE SME platform.

Utilization of Funds

L.T. Elevator Ltd. plans to use the IPO proceeds for:

1. Meeting working capital requirements
2. Investment in its subsidiary, Park Smart Solutions Limited
3. General corporate purposes

Investor Outlook

The massive oversubscription and strong grey market premium suggest high investor confidence in L.T. Elevator Ltd.'s business model and growth prospects. However, it's important to note that grey market premiums are unofficial and can be volatile.

As the company prepares for its stock market debut on the BSE SME platform, all eyes will be on its listing performance. The overwhelming response to the IPO sets the stage for what could be a noteworthy entry into the public markets for L.T. Elevator Ltd.

Investors who have applied for shares will be eagerly awaiting the allotment results on September 17, followed by the much-anticipated listing on September 19.