LAPL Automotive IPO
ListedSME
344.31×
Subscribed
Price band
₹94 – ₹94
Issue size
₹32.4 Cr
Open – close
06 Aug 2026
to 10 Aug 2026
Listing
13 Aug 2026
Listing gain
+43.62%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Mixed4 of 7 dimensions read
A mixed but reasonable offering — 2 positive against 1 negative signals
Strength60/100
- Undemanding valuation9.6× earnings at the upper band, with no peer set published to compare against
- Slow revenue growthRevenue compounding at only 9.7%
- Adequate return on equityROE of 13.4%
- Institutions bid heavilyQIB portion subscribed 200.23×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens06 Aug 2026
- Closes10 Aug 2026
- Listing13 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB200.23x
Non-institutionalNII / HNI433.26x
Big NIIabove ₹10L477.05x
Small NII₹2L – ₹10L345.67x
Retail individualRII387.78x
2,15,111 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 10 Aug 2026.
Chance of allotment
Retail387.78× subscribed
~1 in 387.8
Retail is 387.78× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 387.8 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII433.26× subscribed
~1 in 433.3
HNI is 433.26× subscribed. This category is allotted proportionately, so a bid receives roughly 1/433.3 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹94 – ₹94
Total issue size₹32.4 Cr
Listing atSME platform
Company & valuation
P/E at upper band9.59×
EPS₹7.22pre-issue
NAV per share₹28.70
Return on equity13.37%
ROCE34.37%
Debt/Equity0.83
RoNW34.16%
PAT Margin9.25%
EBITDA Margin16.75%
NAV28.70
Price to Book Value3.28
ISININE0X9I01023
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 16,29,600 | 47.28% |
| Anchor Investor | 9,76,800 | 28.34% |
| QIB (Ex. Anchor) | 6,52,800 | 18.94% |
| NII (HNI) | 4,96,800 | 14.42% |
| bNII > ₹10L | 3,31,200 | 9.61% |
| sNII < ₹10L | 1,65,600 | 4.81% |
| Retail | 11,47,200 | 33.29% |
| Market Maker | 1,72,800 | 5.01% |
Total issue 34,46,400 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,25,6002 lots · 2,400 sh
Individual investors (IND) (Max)₹2,25,6002 lots · 2,400 sh
S-HNI (Min)₹3,38,4003 lots · 3,600 sh
S-HNI (Max)₹9,02,4008 lots · 9,600 sh
B-HNI (Min)₹10,15,2009 lots · 10,800 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted9,76,800
Anchor portion₹9.18 Cr
Bid date05 Aug 2026
Lock-in ends (50%)12 Sept 2026
Lock-in ends (rest)11 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01not stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2022-23 | 12.045 | — | -0.389 | 0.879 | — |
| 2023-24 | 13.217 | — | 0.135 | 1.008 | — |
Revenue CAGR 9.7%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Minda Corporation Limited | 15.31 | 45.35 | 2.00 | 13.55% |
| Fiem Industries Limited | 97.11 | 23.77 | 10.00 | 21.04% |
| Our Companythis issue | 5.72 | 9.59 | 10.00 | 30.28% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumWe derive more than 90.00% of our total revenue from operations from top 10 customers for the period Fiscal 2026, Fiscal 2025, and Fiscal 2024. The loss of any of these customers or a significant reduction in purchases by any of them, or if our customers opt for backward integration, could adversely
mediumWe generate our major portion of sales from our operations from Maharashtrian regions. Any adverse developments affecting our operations in these regions, including regional economic slowdown, disruptions in transportation and logistics, natural calamities, changes in state-level regulations or poli
mediumWe are primarily dependent upon few key suppliers within limited geographical location for procurement of raw materials and we do not have any long-term agreements with such suppliers. Any disruption in the supply of the raw materials or fluctuations in their prices could have a material adverse eff
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the LAPL Automotive IPO subscribed?
LAPL Automotive is subscribed 344.31× overall (QIB 200.23×, NII 433.26×, retail 387.78×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the LAPL Automotive IPO?
The retail portion is subscribed 387.78×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 388. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.