Elevator system solutions provider LT Elevator will open its initial public offering for subscription on September 12 with price band of Rs 76-78 per share.
The company is raising Rs 39.37 crore via initial share sale of 50.48 lakh shares at the upper price band. The IPO comprises of entirely fresh issue component.
The IPO anchor book will be launched on September 11. The public issue for all investors will close on September 16.
The company will finalise IPO share allotment by September 17, while trading in LT Elevator shares will commence on the BSE SME effective September 19.
Promoters own 85.14 percent shareholding in the company, and the remainder 14.86 percent shares are held by public shareholders including Invicta Continuum Fund.
Click Here To Read All IPO News
The Kolkata-based company that offers end-to-end solution from elevator manufacturing, installation, and servicing under annual maintenance contract will utilise Rs 30.5 crore for working capital requirements, and the balance amount will be used for general corporate purposes.
On the financial front, LT Elevator has recorded profit at Rs 8.9 crore for the year ended March 2025, growing sharply by 182 percent from Rs 3.2 crore in the previous year. Revenue increased by 40.8 percent to Rs 56.5 crore, up from Rs 40.1 crore in the same period.
Horizon Management is acting as the merchant banker for the LT Elevator IPO.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
