L.T. Elevator Lists at ₹136.10, Surges 79% Over IPO Price of ₹78

Kolkata, September 19, 2025: LT Elevator Limited started trading profitably on the BSE SME platform, attracting significant investor interest from its debut. On the first day of the listing, LT Elevator’s share price traded higher, driven by excess demand and a promising growth outlook. In the early trading today, the share opened at ₹136.10 at the listed price of ₹78, increasing by 79% further to ₹142.50 for the first buy. With the margin accounting for ₹34.38 crore, the company’s total market cap stands at ₹267.80 crore.

At 1:10 PM, the company’s stock was trading at ₹142.90, a gain of ₹64.90, or up 83.21%, from its listing price of ₹78.00. It has been trading in the range of ₹131.15 – ₹142.50 high and low for the day so far, with volume of 29,32,800 shares traded.

LT Elevator Limited is a manufacturer, installer, and maintainer of elevators. Founded in 2008, the company provides EPC and O&M Services in addition to elevators, and an affiliated entity develops automated multi-level car parking systems. The company is promoted by Arvind Gupta, Usha Gupta, and Yash Gupta.

Investor Demand and Subscription Response

The strong debut was supported by high investor demand in LT Elevator IPO phase. The issue was open for subscription between September 12 and September 16 and attracted a total subscription of 182.95 times. Demand was highest for the non-institutional investor category, with a subscription of 356.16 times. Retail investors subscribed 158.90 times while qualified institutional buyers subscribed 95.10 times. This strong demand far exceeded the grey market premium of ₹43 a share, which suggested that the stock would list around ₹121.

Investment from Anchor Investors and Fund Deployment

The company received ₹11.21 crore from anchor investors before the IPO by issuing 14,36,800 shares at a price of ₹78 each. The main institutional investors were: India Continuum Fund I, India Max Investment Fund, Fortune Hands Growth Fund, Saint Capital Fund, and RMS Growth Fund. LT Elevator plans to use the proceeds from the fresh issue of 50 lakh shares, totaling ₹39.37 crore, for working capital, investment in the subsidiary, Park Smart Solutions Limited, to expand its business, and for general corporate purposes.

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