Lakshya Powertech shares listed on the NSE SME platform with 90 percent premium at Rs 342 per share against the issue price of Rs 180.
The SME IPO comprised only fresh issue by the firm, thus the entire issue proceeds will be received by the company.
It had an issue size of Rs 49.91 crore with a lot size of 800 shares. The maiden share sale by the company had a price band of Rs 171 - 181 per share.
The company is going to spend Rs 30 crore for its working capital requirements, Rs 4.5 crore for repaying debt, and the remaining funds for general corporate purposes.
Lakshya Powertech caters to oil and gas, power, industrial, and renewable energy sectors as well as provides operation and maintenance services, has executed more than 138 projects with major completed projects amounting to Rs 268.43 crore. It has 45 major ongoing projects worth Rs 431.99 crore as of August 2024.
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