LT Elevator's ₹39cr IPO opens on September 12
LT Elevator, a maker of elevators and related systems, just opened its IPO on September 12.
They're looking to raise ₹39 crore by offering 50.5 lakh shares at ₹76-78 each.
You can apply until September 16, with allotment on September 19 and the company listing on the BSE SME Exchange by September 19.
Strong recent financial performance
Since starting out in 2008, LT Elevator has been designing, building, installing, and servicing different types of elevators—manual, semi-auto, and fully automatic—with a focus on modular designs and around-the-clock support.
The company's had a strong year: revenue jumped 40% to ₹56.7 crore in FY25 and profit after tax soared by 182% to ₹8.9 crore compared to last year.
Use of funds and other details
Funds from the IPO will mainly cover working capital and investments in their subsidiary Park Smart Solutions; what's left goes toward general corporate needs.
Horizon Management is handling the issue while Cameo Corporate Services is registrar.
With zero gray market premium so far, expectations for a big debut are pretty modest—but it's one to watch if you're curious about up-and-coming manufacturing brands.