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LT Elevator Limited IPO
LT Elevator Limited is entering the capital market with a book built issue. The size of the issue is around ₹39.37 crore and in this amount 50,48,000 equity shares of ₹10 each will be issued. The LT Elevator IPO has fixed the price band for the share sale at ₹76-78 a share. The lot size for retail investors applying in the IPO has been fixed at 1,600 shares, with a minimum application value of ₹1,24,800. The IPO shares will be allotted on 17 September 2025 and refund will happen on 18 September and shares will be listed on 19 September 2025 on BSE SME.
Company Background
LT Elevator Limited is a company established in 2008 and headquartered in Kolkata. It is one of the largest indigenous manufacturers for elevators in India. It has a state-of-the-art, semi-automatic manufacturing setup with sophisticated German equipment and a production capability of 2,000 lifts and 5,000 parking systems every year. The company is in manufacturing elevators, escalators, moving walksways, car stackers and the provision of maintenance and modernization services. The company’s presence in 21 states and 6 countries enabling the Make in India campaign, LT Elevator offers innovative, high-quality products customized to the needs of the market featuring a high degree of energy efficiency and safety.
Operations & Product Range
Facility & Production
LT Elevator owns an 80,000 sq. ft. semi-automatic plant in Kolkata, soon to expand to 1,35,000 Sq. ft., through state of art German TRUMPF assembly lines. Over 80% of products are produced in-house so quality and processes can be controlled. The product manufacturing includes automatic and manual elevators with machine rooms to hospital elevators, residential elevators, collapsible gate lifts and stainless steel elevators. The company also provides installation, commissioning and operations & maintenance (O&M) as integrated services on a turn-key basis under annual contracts, focusing on "Customer First" philosophy.
Brands & Market Presence
LT Elevator IPO has a strong brand presence in India’s elevator and vertical transportation space with clients in real estate, healthcare, auto and other industries. It is a quality product, durable and safe and it is designed around different customer needs for all types of applications, for example, urban high-rises, institutional buildings and specialized situations, such as hospitals and car parks. It is also a pioneer in smart avatars for smart parking solutions for cars under its ParkSmart brand and smart solutions for congested urban space.
Revenue Channels
- Sales of elevators, escalators, moving walkways and car stackers manufactured in-house.
- Engineering, procurement and construction (EPC) services, including installation and commissioning.
- Operations and maintenance (O&M) servicing under annual maintenance contracts (AMCs).
- Growing contributions from parking system solutions and modernization projects.
Management & Shareholding
Promoters & Shareholding
The key promoters of LT Elevator IPO are Rakesh Ashok Markhedkar, Avinash Markhedkar and Nakul Markhedkar. Collectively, they hold about 85.14% of the company's pre-IPO shareholding. The post-issue shareholding will change depending on the IPO allotment and fresh capital inflow, causing dilution of promoter shares proportional to the increase in equity.
Board Members
The LT Elevator IPO is managed by a promoter-led board supported by experienced executives in finance, operations and project management. Independent directors are appointed to strengthen governance, risk management and compliance in line with public listing requirements. The board maintains a strong focus on customer satisfaction, operational excellence and strategic growth in the elevator industry.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
LT Elevator Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
LT Elevator Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 12, 2025 to September 16, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹76 to ₹78 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 50,48,000 shares (aggregating up to ₹39.37 Cr) |
| Reserved for Market Maker | 2,52,800 shares (aggregating up to ₹1.97 Cr) Rainbow Securities Pvt.Ltd. |
| Net Offered to Public | 47,95,200 shares (aggregating up to ₹37.40 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,41,15,055 shares |
| Share Holding Post Issue | 1,91,63,055 shares |
LT Elevator Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Fri, Sep 12, 2025 |
| IPO Close Date | Tue, Sep 16, 2025 |
| Tentative Allotment | Wed, Sep 17, 2025 |
| Initiation of Refunds | Thu, Sep 18, 2025 |
| Credit of Shares to Demat | Thu, Sep 18, 2025 |
| Tentative Listing Date | Fri, Sep 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 16, 2025 |
LT Elevator Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,49,600 |
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,49,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,74,400 |
| S-HNI (Max) | 8 | 12,800 | ₹9,98,400 |
| B-HNI (Min) | 9 | 14,400 | ₹11,23,200 |
LT Elevator Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 85.14% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- ● Extensive manufacturing capacity with advanced German technology and semi-automatic processes ensuring high-quality standards.
- ● Comprehensive product portfolio catering to multiple sectors such as residential, commercial, healthcare and automotive.
- ● Strong market presence across India with expansion into international markets in 6 countries.
- ● Integrated service offerings from manufacturing to installation, commissioning and AMC-based maintenance.
LT Elevator Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 86.99 | 56.74 | 8.94 | 45.43 | 17.3 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 43 | 41 | 3 | 11 | 14 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 42.68 | 34.73 | 1.25 | 7.57 | 13.64 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 20.52% |
| ROCE | 30.50% |
| Debt/Equity | 0.38 |
| RoNW | 19.68% |
| PAT Margin | 15.82% |
| EBITDA Margin | 26.94% |
| Price to Book Value | 2.35 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.34 | 5 |
| P/E (x) | 12.31 | 17 |
Objectives of LT Elevator IPO
- Funding working capital requirements to support growing operational and project needs.
- Investment in the subsidiary Park Smart Solutions Limited, primarily for its working capital.
- General corporate purposes including strengthening marketing, manufacturing and technological capabilities.
Conclusion
As one of the biggest and most prominent domestic elevator manufacturers in India, LT Elevator IPO combines technology-driven production with a wide range of services for the elevator and vertical transportation sectors. The company’s upcoming IPO aims to support scale-up initiatives across production, servicing and emerging segments like smart parking. The IPO gives investors access to a seasoned business that is well-established in India's urban infrastructure development, together with a strong financial history and a smart expansion plan. Operational scale, market competition, the regulatory environment and the potential for sector expansion should all be taken into account during evaluation.
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Frequently asked Questions (FAQs )
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1. What are the IPO dates and listing schedule?
The LT Elevator IPO opens on 12 September 2025 and closes on 16 September 2025. Basis of allotment is planned on 17 September, refunds on 18 September and listing on 19 September 2025 on BSE SME and BSE mainboard.
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2. Who are the promoters of LT Elevator IPO?
The company is promoted by Rakesh Ashok Markhedkar, Avinash Markhedkar and Nakul Markhedkar, holding over 85% pre-IPO.
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3. What products and services does the company offer?
LT Elevator manufactures elevators, escalators, moving walkways, car stackers and offers installation, commissioning, EPC and AMC-based maintenance services.
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4. What are the LT Elevator IPO’s key strengths?
Robust manufacturing infrastructure with German technology, diversified product portfolio, pan-India presence complemented by services and a customer-first approach.
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