Schedule of Lakshya Powertech
| Issue open date | 16 Oct 2024 |
| Issue close date | 18 Oct 2024 |
| UPI mandate deadline | 18 Oct 2024 (5 PM) |
| Allotment finalization | 21 Oct 2024 |
| Refund initiation | 22 Oct 2024 |
| Share credit | 22 Oct 2024 |
| Listing date | 23 Oct 2024 |
| Mandate end date | 02 Nov 2024 |
| Lock-in end date for anchor investors (50%) | 20 Nov 2024 |
| Lock-in end date for anchor investors (remaining) | 19 Jan 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Lakshya Powertech
Established in 2012, Lakshya Powertech began as an engineering consultancy and contracting company, recognized for its mechanical and electrical services expertise. Initially launched as a freelancing consultancy in power generation, the company quickly evolved into a multifaceted entity, expanding significantly into operations and maintenance (O&M) for gas power generation. It primarily operates across four key sectors: Oil and Gas, Power, Renewable Energy, and Industrial. Its services are structured into four main divisions: (i) Engineering, Procurement, Construction & Commissioning; (ii) Integrated Operation & Maintenance Services; and (iii) Special Services.
Financials of Lakshya Powertech
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹49.91 crores |
| Fresh Issue | ₹49.91 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 30 (60.11%) |
| Debt reduction | 4.5 (9.01%) |
| General corporate purposes | 12.48 (25%) |
| Other expenses | 2.93 (5.88%) |
Strengths
- The company has successfully executed over 138 projects, totaling nearly ₹ 26,843.1 Lakhs. As of August 31, 2024, it is managing 45 major ongoing projects valued at approximately ₹ 43,199 Lakhs, based on purchase orders.
- While the company is focusing on securing EPCC contracts to advance up the value chain and serve as the primary service provider, it is also strategically diversifying into emerging sectors such as Renewable Energy and Green Energy.
- The company specializes in delivering comprehensive engineering, procurement, and construction services tailored to a wide range of industries and economies.
- The company’s quality management systems are certified under ISO 9001:2015 and ISO 45001:2018, underscoring its commitment to precision and performance.
Risks
- The projects are awarded through a competitive bidding process by government authorities, bodies, and private companies. Failure to qualify, compete, or win future projects could adversely affect the business.
- Delays in completing current and future projects could result in the payment of liquidated damages for engineering, procurement, construction, and commissioning (EPCC), which may negatively impact cash flows, business operations, and financial condition.
- An increase in the prices of raw materials and labor could adversely affect the business, operational results, and financial condition.
- The company’s business is working capital intensive. Insufficient cash flows to meet required payments for working capital could negatively impact operational results.
- The company has experienced negative cash flows from operating, investing, and financing activities, resulting in a net decrease in cash and cash equivalents in certain recent years.