Lamtuf Limited Files DRHP for IPO
By Ankur Chandra | Published at: Jul 15, 2025 10:38 AM IST
Mumbai, 15 July 2025: Lamtuf Limited, a Hyderabad-based manufacturer of industrial laminates and composite materials, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), for its IPO. The proposed Initial Public Offering (IPO) includes a fresh issue of 1 crore equity shares and an Offer for Sale (OFS) of 20 lakh equity shares by promoters Surender Kumar Mehta and Kamlesh Mehta.
IPO Filing Reflects Growth Ambition and Promoter Commitment
The IPO will be carried out through a 100% book-building process, with plans to list on both the BSE and NSE. While the price band, issue dates, and valuation remain pending, they will be determined in consultation with the Book Running Lead Manager, Unistone Capital Pvt Ltd. The offering structure indicates a dual purpose-raising fresh capital and offering promoter exit liquidity.
Equity Offer Details Point to Robust Market Entry Strategy
| Type of Issue | Equity Shares | Face Value | Aggregating Up To |
|---|---|---|---|
| Fresh Issue | 1,00,00,000 | ₹5 | ₹[●] crore |
| Offer for Sale | 20,00,000 | ₹5 | ₹[●] crore |
| Total Issue | 1,20,00,000 | ₹5 | ₹[●] crore |
The equity shares will be allocated as per Regulation 6(1) of SEBI’s ICDR Regulations, 2018. Listing will take place on the BSE and NSE post final regulatory approvals.
Promoter Exit via OFS Signals Partial Stake Dilution
| Name of Promoter Shareholder | Shares Offered | Avg. Cost of Acquisition (₹) |
|---|---|---|
| Surender Kumar Mehta | 7,50,000 | 0.75 |
| Kamlesh Mehta | 12,50,000 | 0.60 |
Both promoters have held these shares for over one year, aligning with SEBI’s eligibility norms for Offer for Sale under ICDR guidelines.
Fresh Issue to Fund Manufacturing Expansion and Working Capital
| Objective | Allocation (₹ in lakhs) |
|---|---|
| Capital expenditure for expansion of the existing manufacturing facility in Telangana | 6,042.60 |
| Funding working capital requirements (FY26 and FY27) | 3,400.00 |
| General corporate purposes | [●] |
| Total | [●] |
The expansion involves developing a new facility on 5.625 acres of newly acquired land adjacent to its current plant at Pashamylaram Industrial Area, Sangareddy District, Telangana.
Financial Performance Shows Stable Margins and Profitability
| Key Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Revenue from Operations (₹) | 18,554.51 lakh | 17,027.73 lakh | 20,073.97 lakh |
| EBITDA (₹) | 3,271.98 lakh | 2,972.28 lakh | 3,109.28 lakh |
| Net Profit (₹) | 2,182.68 lakh | 1,980.01 lakh | 2,082.19 lakh |
| EBITDA Margin (%) | 17.63 | 17.46 | 15.49 |
| Return on Equity (%) | 16.17 | 17.14 | 21.61 |
| EPS (Basic & Diluted) (₹) | 6.86 | 6.22 | 6.54 |
As of 31 March 2025, the company maintains a strong financial position with a net worth of ₹13,495.54 lakh and a low debt-to-equity ratio of 0.11.
Capacity Expansion Aims to Meet Rising Demand and Product Innovation
Lamtuf currently operates a single integrated manufacturing facility with an installed capacity of 7,200 MTPA. The proposed expansion will add 6,300 MTPA, bringing the total capacity to 13,500 MTPA. The new line will focus on advanced product segments such as pultruded profiles, epoxy filament wound tubes, and dotted diamond paper, which serve niche electrical and industrial applications.
Diverse Industry Exposure and Global Reach Enhance Market Stability
Established in 1995 and rebranded in 2022, Lamtuf produces a wide array of industrial laminates and composite insulation materials. Its client industries include transformers, railways, switchgear, construction, and oil & gas. The company is also expanding its export presence, with notable traction in North America, Europe, and Southeast Asia.
Notably, its top 5 customers contributed 39% of revenue in FY25, while exports made up 46%, highlighting its well-diversified revenue stream.
Promoter Group Retains Control Ahead of IPO Launch
| Name | Pre-Offer Holding (%) |
|---|---|
| Surender Kumar Mehta | 44.63 |
| Prateek Mehta | 19.97 |
| Kamlesh Mehta | 18.90 |
| Predict Technologies Pvt. Ltd. | 16.16 |
| Rachna Mehta | 0.32 |
| Total Promoter Holding | 99.98% |
The revised promoter shareholding post-IPO will be disclosed after allotment finalisation.
IPO Management and Compliance in Place for Smooth Execution
- Book Running Lead Manager (BRLM): Unistone Capital Pvt Ltd
- Registrar: KFin Technologies Ltd
The IPO is subject to regulatory approvals, and final offer details will be made public once SEBI issues its observations and the Red Herring Prospectus (RHP) is filed.
REF: https://nsearchives.nseindia.com/corporate/Registration_15072025031542_LamtufLimited.pdf
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