L.T. Elevator IPO Sees Strong Retail and NII Demand on Day 2

Kolkata, September 15, 2025: L.T. Elevator Limited’s ₹39 crore SME IPO is witnessing strong investor demand on its second day of bidding. L.T. Elevator IPO, which opened on September 12, is being subscribed heavily by retail and non-institutional investors. Ahead of the IPO, the company has raised ₹11.20 crore from anchor investors by allotting 14,36,800 shares at ₹78 per share. Key investors included India Continuum Fund I, India Max Investment Fund Ltd, Fortune Hands Growth Fund Scheme I, Saint Capital Fund, and RMS Growth Fund Scheme I. The book running lead manager is Horizon Management Private Limited, and Cameo Corporate Services Limited is the registrar to the IPO.

L.T. Elevator Limited is an Indian company that manufactures and supplies a variety of vertical transportation systems, including elevators, escalators, and car parking solutions. The company was established on 27th August 2008 and is headquartered in Kolkata, West Bengal, India.

NIIs Lead The Subscription At 3.81 Times

As of 1:40 PM, the subscription is being led by Non-Institutional Investors at 3.81 times, with bids for 27,40,800 shares, against 7,20,000 shares offered. This is followed by Retail Investors at 3.50 times, with 58,78,400 shares bid for, against 16,78,400 shares offered. However, QIBs are yet to subscribe to the issue. In total, the issue has been subscribed by a total of 2.57 times, with 86,19,200 shares bid for, against 33,58,400 shares offered.

Price Band at ₹76.00-₹78.00 Per Share

The company has set the price band for the issue at ₹76.00-₹78.00 per share. The IPO consists of a fresh issue of ₹39.37 crore, with no offer for sale component. The lot size is 1,600 shares, with the minimum investment amount at ₹2,49,600.00 (3,200 shares) at the upper price band.

The increased demand by retail investors and NIIs underscores the company’s commitment to its business operations. It remains to be seen at what factor the entire IPO will be subscribed on the last day tomorrow.

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