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LAPL Automotive shares pop on BSE SME debut, then see profit booking

The IPO was priced at ₹94 and raised about ₹32.4 crore through a fresh issue of 34,46,400 shares, with shares later slipping toward the SME’s 5% lower price band.

Reported · Written up by our desk · Emerging Markets

LAPL Automotive made a strong first trade on the BSE SME on Thursday, 13 August, with its share price listed at ₹135, up 43.6% from the ₹94 issue price, despite softer broader market sentiment. Shortly after listing, profit booking set in, pulling the stock down to around ₹129, near the SME’s 5% lower price band of ₹128.25.

By about 10:05 AM, the stock was trading at ₹131.01, still up 39.4% from the issue price. During that time, the Sensex was down 0.2% at 77,791.

Grey market indications suggested the stock’s listing was slightly below expectations, with a last grey market premium of ₹50 implying a potential listing premium of about 53.2% over the issue price. The report also noted that the grey market conditions can differ from the final market open.

The IPO was a book build issue conducted entirely as a fresh share sale of 34,46,400 shares to raise nearly ₹32.4 crore. Priced at ₹94, the offering opened for public subscription on 6 August and closed on 10 August with an overall subscription of 241 times, while allotment was finalized on 11 August and shares were credited to successful bidders’ demat accounts on 12 August. GYR Capital Advisors Private Limited served as book-running lead manager, and Maashitla Securities Private Limited was the registrar.

Latest closeSensex 78,154.25 ▼0.5%

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