LT Elevator IPO Subscription Status

The LT Elevator IPO recorded a subscription of 0.68× on its first day (12 September 2025, 5 PM).

• Qualified Institutional Buyers (QIB): 0.00×
• Non-Institutional Investors (NII): 1.19×
• Retail Individual Investors (RII): 0.84×

The company received bids for 22,73,600 shares against the total issue size of 33,58,400 shares on Day 1.

About LT Elevator

L. T. Elevator Limited, founded in August 2008, is a leading Indian manufacturer and service provider of comprehensive elevator system solutions. Its operations cover design, manufacturing, installation, commissioning, and maintenance of elevators with a strong customer-first approach.

The company runs a modern manufacturing facility in West Bengal with a production capacity of 800 elevators per year, supported by in-house R&D and testing labs. LT Elevator holds ISO 14001:2015 certification, ensuring high safety standards and energy efficiency.

Its product portfolio includes passenger, goods, hospital, and home elevators—both manual and automatic. LT Elevator has a presence in major cities such as Bhubaneswar, Delhi, Patna, and Guwahati, and is actively involved in smart city projects in Silchar and Imphal.

Key clients include residential complexes, commercial buildings, malls, and public-sector units such as Indian Railways. The company currently employs 319 people, with a growing network of service technicians and sales teams across India.

Financial Performance

LT Elevator has shown consistent growth:

• Revenue: ₹56.74 crore in FY25, up from ₹40.63 crore in FY24.
• Net Profit: ₹8.94 crore in FY25, rising from ₹3.17 crore in FY24.

Management attributes this growth to rising urban development, increased demand for high-speed elevators, and a focus on after-sales service.

Grey Market Premium (GMP)

As of Friday, 12 September 2025, the GMP stood at ₹0, indicating that the IPO was trading at ₹78, exactly matching its issue price of ₹78 in the grey market.

Additional Insights

Industry analysts note that India’s real estate and infrastructure expansion, along with the government’s push for smart cities and high-rise residential projects, will continue to drive elevator demand. LT Elevator’s ongoing investments in smart elevator technologies, IoT-based monitoring systems, and energy-efficient designs could enhance its market share and valuation in the coming years.

The company’s focus on customized solutions and strong service support positions it well for sustainable growth, even as competition from global elevator brands intensifies.