New Delhi, September 19 (HS): Shares of LT Elevator, a company engaged in the production, installation, and maintenance of elevators, made a spectacular entry on the bourses, delivering hefty returns to its IPO investors. Issued at ₹78 per share, the company’s stock debuted on the BSE SME Platform at ₹136.10, reflecting a premium of 74.49 percent over the issue price.

Post listing, sustained buying pushed the stock higher, with shares trading at ₹142.50 by 10:30 a.m., giving IPO subscribers impressive listing gains of about 82.69 percent.

Subscription and Fund Utilization

The ₹39.37 crore IPO of LT Elevator, which was open for subscription between September 12–16, received an overwhelming response with an overall subscription of 182.95 times. The Qualified Institutional Buyers (QIB) category was subscribed 95.10 times, while the Non-Institutional Investors (NII) portion saw a massive 356.16 times subscription. The retail investor quota was subscribed 158.90 times.

Under the issue, the company had floated 5.048 million fresh shares of face value ₹10 each. The proceeds will be utilized for investment in its subsidiary Park Smart Solutions, to meet working capital requirements, and for general corporate purposes.

Financial Performance

According to the company’s IPO prospectus, LT Elevator has demonstrated robust financial growth. Its net profit rose from ₹1.25 crore in FY 2022-23 to ₹3.17 crore in FY 2023-24, and further jumped to ₹8.94 crore in FY 2024-25. Revenue surged at a compound annual growth rate (CAGR) of over 27 percent, reaching ₹56.74 crore.

However, the company’s debt levels also increased during the same period, climbing from ₹13.64 crore in FY 2022-23 to ₹14.02 crore in FY 2023-24, and further to ₹17.30 crore in FY 2024-25. At the same time, reserves and surplus grew significantly from ₹2.96 crore in FY 2022-23 to ₹6.13 crore in FY 2023-24, before soaring to ₹31.77 crore in FY 2024-25.

Hindusthan Samachar / Jun Sarkar