LT Elevator IPO subscribed 4.50x on Day 2
On the second day of bidding (15 September 2025, 5:00 PM), the LT Elevator IPO was subscribed 4.50 times overall.
The issue received bids for 1,51,20,000 shares against the total offer of 33,58,400 shares.
Founded in August 2008, L. T. Elevator Limited is a leading provider of elevator system solutions in India. The company handles manufacturing, installation, commissioning, and maintenance of elevators, guided by a customer-second philosophy that prioritizes quality and employee ownership of service.
Its state-of-the-art West Bengal plant can produce 800 elevators annually, enabling a diverse portfolio of passenger, goods, hospital, and home elevators, available in both manual and automatic variants. LT Elevator has a strong presence in Bhubaneswar, Delhi, Patna, and Guwahati, and is actively involved in smart city projects in Silchar and Imphal. Major clients include residential complexes, commercial buildings, malls, and public-sector units such as Indian Railways.
The company employs 319 people across engineering, R&D, and field operations, and maintains an ISO 14001:2015 certification. Its in-house R&D and testing facilities help ensure high safety standards and energy efficiency—critical factors in India’s rapidly expanding vertical-transportation market.
These figures underscore a consistent upward trajectory, aligning with India’s growing demand for elevators driven by urban high-rise construction.
As of Monday, 15 September 2025, the LT Elevator IPO GMP stood at ₹10, implying that shares were trading around ₹88 in the grey market—about a ₹10 premium over the issue price of ₹78.
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