LAPL Automotive IPO

About this issue

LAPL Automotive listed at +43.6% against its issue price of ₹94. The book is 344.31 times subscribed overall. The grey market premium is +₹50 (+53.2%), which is an informal figure and not a quoted price. Our call is Must Apply, on 100% of our checks.

Segment

SME

Price

₹94

Lot size

1,200 shares

One lot costs

₹1,12,800

Issue size

₹31 Cr

Grey market premium

+₹50 (+53.2%)

Subscribed

344.31x

Listed at

+43.6%

Our call

Must Apply

What we checked

• Profitable in the latest yearPAT ₹8.63 Cr
• Profit grew year on yearPAT +72%
• Revenue grew year on yearRevenue +41%
• Borrowing under half of net worthDebt/net worth 0.31
• Return on net worth above 15%RoNW 34.2%
• Post-issue P/E under 40P/E 13.7
• Price to book under 6P/B 3.3
• Majority is fresh capital100% fresh issue
• Promoters keep at least half70.2% held post-issue
• Anchor investors participatedAnchor book placed
• Institutions subscribed over 10×QIB 200.2× subscribed
• Overall book more than 10× covered344.3× overall
• Institutions wanted it more than retailQIB 200.2× vs retail 387.8×
• Lead manager above segment medianGYR Capital Advisors Pvt.Ltd.: 61 past issues, +73% avg vs +8% segment median

1 further check could not be judged, because the issue did not disclose enough. They count neither for nor against.