LAPL Automotive SME IPO listing: Shares of LAPL Automotive made a stellar debut on the BSE SME on Thursday, 13 August, in an otherwise weak market. LAPL Automotive’s share price was listed at ₹135, up 43.62% from the issue price of ₹94.
However, soon after its listing, the SME stock witnessed profit booking, which dragged it to ₹129, close to its 5% lower price band of ₹128.25.
Around 10:05 AM, the stock was at ₹131.01, 39.37% up from its issue price. Equity benchmark Sensex was 0.23% down at 77,791 at that time.
However, grey market sources said that the stock’s listing was slightly below expectations, as the last grey market premium (GMP) on LAPL Automotive shares on Thursday morning was ₹50, suggesting the stock could list at a 53.19% premium over its issue price.
LAPL Automotive IPO details
LAPL Automotive IPO was a book build issue, entirely a fresh issue of 34,46,400 shares to raise nearly ₹32.40 crore.
Priced at ₹94, the issue opened for public subscription on Thursday, 6 August, and concluded on Monday, 10 August, with an overall subscription of 241 times.
Share allotment was finalised on Tuesday, 11 August, and successful bidders received the shares credited to their demat accounts on Wednesday, 12 August.
GYR Capital Advisors Private Limited was the book-running lead manager, while Maashitla Securities Private Limited was the registrar of the LAPL Automotive IPO.
LAPL Automotive is an integrated automotive components manufacturer operating across ODM (original design manufacturing) and OBM (original brand manufacturing) models, with a diversified product portfolio spanning automotive lighting systems, mirrors, and plastic moulded components.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.