Final hours! LT Elevator IPO closes today; subscription up 95x, GMP at 25%

LT Elevator IPO subscription status Day 3: The demand was led by non-institutional investors (NIIs) as they subscribed to the portion reserved for them by 159.93 times

LT Elevator IPO subscription status Day 3: The initial public offering (IPO) of Elevator system solutions provider LT Elevator will close for subscription on Tuesday, September 16, 2025. The ₹39.37 crore SME offering opened for public subscription on Friday, September 12, and has received an overwhelming response from investors. 

 

As of 02:35 PM on Tuesday, data from the National Stock Exchange (NSE) shows that the IPO attracted bids for approximately 343.97 million equity shares, significantly exceeding the 3.61 million shares available for subscription. This translates to an overall subscription rate of 95.25 times.

 

The demand was led by non-institutional investors (NIIs) as they subscribed to the portion reserved for them by 159.93 times. Retail investors' portion was subscribed 89.41 times, while the Qualified Institutional Buyers (QIBs) segment was subscribed 39.93 times.

LT Elevator IPO grey market premium (GMP)

On the last day of bidding, LT Elevator's unlisted shares were trading at ₹98 per share, commanding a premium of ₹20 or 25.6 per cent compared to the upper end of the price band of ₹76 to ₹78, according to sources tracking unofficial markets. 

LT Elevator IPO key details

The ₹39.37 crore IPO of LT Elevator comprises a fresh issue of 5 million equity shares. LT Elevator's IPO is priced between ₹76 and ₹78 per share. The minimum bid lot consists of 1,600 shares, implying a retail investor should invest at least ₹2,49,600 to apply for at least two lots at the upper price band.

 

With the subscription window closing today, the IPO allotment status is likely to be finalised on Wednesday, September 17. Investors can expect shares to be credited to their demat accounts by Thursday, September 18. Shares of LT Elevator will be listed on the BSE SME platform, tentatively on September 19. 

 

Cameo Corporate Services is the registrar for the issue. Horizon Management is the sole book-running lead manager. 

 

As per the red herring prospectus (RHP), the company proposes to utilise the net issue proceeds for funding working capital requirements and investment in subsidiary Park Smart Solutions. The remaining funds will be used for general corporate purposes.