L. T. Elevator Ltd - IPO

L. T. Elevator Ltd IPO Details

Initial public offer of upto 50,48,000 equity shares of face value of Rs. 10/- each (Equity Shares) of the company at an issue price of Rs. 78 per equity share (including a share premium of Rs. 68 per equity share) for cash, aggregating up to Rs. 39.37 crores (public issue) out of which 2,52,800 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 78 per equity share for cash, aggregating Rs. 1.97 crores will be reserved for subscription by the market maker to the issue (the market maker reservation portion). The public issue less market maker reservation portion i.e. issue of 47,95,200 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 78 per equity share for cash, aggregating up to Rs. 37.40 crores is hereinafter referred to as the net issue. The public issue and net issue will constitute 26.34% and 25.02% respectively of the post- issue paid-up equity share capital of the company.A pre-ipo placement of 4,48,000 equity shares was undertaken by the company, in consultation with the book running lead managers, as permitted under applicable law, aggregating to Rs. 3.49 crores (pre-ipo placement). The pre-ipo placement was at a price decided by the company, in consultation with the book running lead managers and was completed with the roc. The amount raised pursuant to the pre-ipo placement was reduced from the issue, subject to compliance with rule 19(2)(b) of the scrr and the revised issue size aggregates up to 50,48,000 equity shares. the pre-ipo placement did not exceed 20% of the size of the issue.

Objective of issue

Working Capital Requirements. Investment in subsidiary Park Smart Solutions Limited, for funding of its working capital requirement. General corporate purposes(.

L. T. Elevator Ltd Contact Details

L. T. Elevator Ltd, Subramanian Building, 1ST Floor No 1, Club House Road, Chennai - 600002

Phone - 91-44-28462700

Fax - 91-44-28460129

Email - cs@ltelevator.com

Website - www.ltelevator.com