Lakshya Powertech IPO booked over 30x so far on Day 1. Check GMP & other details
Lakshya Powertech's issue has been garnering strong demand from investors. The issue, which opened for bidding earlier today, was already subscribed 30 times.
This demand was driven by retail investors, whose category was booked over 50 times, followed by non-institutional investors at 24 times.
The company's shares are commanding a GMP of Rs 169 in the unlisted market, which indicates a premium of 94%. However, it should be noted that the listing price is capped at 90%.
The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.
The company started its journey as a freelancing consultancy in power generation and rapidly transitioned into a multifaceted entity with a robust expansion into operations and maintenance (O&M) for gas power generation.
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