BSE SME IPO of L.T.Elevator subscribed 63%

The initial public offer (IPO) of L.T.Elevator received bids for 22,76,800 shares as against 36,11,200 shares on offer, as per BSE data as of 17:00 hours on Friday (12 September 2025). The issue was subscribed 0.63 times. The issue opened for bidding on Friday (12 September 2025) and it will close on Tuesday (16 September 2025). The price band of the IPO is fixed between Rs 76 to 78 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on BSE’s SME platform. The IPO comprises fresh issue of 50,48,000 equity shares. About 2,52,800 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 47,95,200 equity shares. The issue and the net issue will constitute 26.34 % and 25.02%, respectively, of the post issue paid up equity share capital of the company. The company intends to utilize the net proceeds for funding its working capital requirements, investment in its subsidiary Park Smart Solutions and general corporate purposes. Ahead of the IPO, L.T.Elevator on Thursday, 12 September 2025, raised Rs 11.20 crore from anchor investors. The board allotted 14.36 lakh shares at Rs 78 each to 5 anchor investors. L.T. Elevator provides elevator system solutions with a focus on service, engineering, and technical expertise. It offers end-to-end solutions, including elevator manufacturing, installation, commissioning, and servicing under annual maintenance contracts. L.T. Elevator is a solution provider offering EPC (engineering, procurement, and construction) and O&M (operations and maintenance) services to its customers. The company offers a product line with modular designs, advanced engineering, and a commitment to providing 24x7 service support. Its products are designed with an emphasis on energy efficiency and the safety of transporting people. Typically, it provides a quality guarantee period of 12 months from the date of commissioning. Park Smart Solutions, its subsidiary, is engaged in the turnkey execution of Multi-Level Car Parking Solutions, including design, engineering, supply, installation & commissioning (I&C), and operation and maintenance of automatic multi-level car parking systems. As of 31 March 2025, the company had 319 employees on payroll. The company recorded revenue from operations of Rs 56.52 crore and net profit of Rs 8.94 crore for the year ended 31 March 2025.