L.T.Elevator Limited started its journey in 2008 and is scheduled to collect up to Rs. 39.37 crores via its SME IPO on the BSE SME platform. The fund offer, made purely of 50.48 lakh equity shares of the company, will be available for subscription from September 12, 2025 to September 16, 2025, and it is expected that the listing will take place on September 19, 2025. The IPO has been priced in the range of ₹76–₹78 per share, and the lot size is 1,600 shares. Thus, the minimum investment for a retail investor will be ₹2.49 lakh, and HNIs must at least apply for three lots, worth ₹3.74 lakh. Mainly, the issue proceeds will be used to meet working capital requirements, for investment in the subsidiary, and for general corporate purposes.
L.T. Elevator IPO Overview
L.T. Elevator Limited has been a manufacturer of elevators for more than 15 years. Alongside its product range, it has also been providing the installation, commissioning, and maintenance services. The company has been concentrating on engineering, service quality, and customer support 24/7, as its core value is “Customer First”.
The factory in Chakchata, West Bengal, is equipped to produce 800 elevators a year. The company has got a same-day testing lab that comes to high-quality standards.
The promoter trio, Arvind Gupta, Usha Gupta, and Yash Gupta, have been the main reasons behind L.T.Elevator becoming a brand with recognition and an innovative solution provider in the Indian elevator solutions market.
| Field | Details |
| Legal Name | L.T. Elevator Limited |
| Founded In | 2008 |
| Headquarters | Kolkata, West Bengal |
| Address | Capricorn Nest 3, Gobinda Auddy Road, Kolkata, West Bengal, 700027 |
| Registrar | Cameo Corporate Services Ltd. |
| Promoters & Key Leaders | Arvind Gupta, Usha Gupta, Yash Gupta |
L.T.Elevator Business Model & Operations
L.T.Elevator is using a B2B business model, where it sells not only elevators but also related services to builders, real estate developers, and other institutional clients. The company is basically a one-stop shop for vertical transportation through:
- Design & Manufacturing: The use of hi-tech equipment and modular design guarantee the effectiveness of individualized solutions.
- Installation & Commissioning: End-to-end customer care from delivery to the stage of being in use.
- Maintenance Services: The Annual Maintenance Contracts (AMCs) that ensure the company stable income.
- EPC & O&M Solutions: Along with engineering, procurement, and construction, they offer the service of continued maintenance.
So as to change the traditional pattern of urban car parking, the company has launched a subsidiary called Park Smart Solutions Limited that has its core business as multi-level parking solutions.
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L.T.Elevator Financial Performance
In the past three years, L.T.Elevator has grown consistently. The turnover increased by 40% in the Financial year 25 while the Net income shot up 182% due to the combination of operational efficiency and increasing demand for the company’s tailored elevator solutions. The company’s EBITDA margin was up to 27%, which is a very positive sign of their cost control efforts.
Even though the company has expanded, the amount of borrowing is still fairly low. The debt-to-equity ratio of 0.38 tells us that the firm has a fair capital structure
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | ₹86.99 Cr | ₹42.78 Cr | ₹42.68 Cr |
| Total Income | ₹56.74 Cr | ₹40.63 Cr | ₹34.73 Cr |
| Profit After Tax | ₹8.94 Cr | ₹3.17 Cr | ₹1.25 Cr |
| EBITDA | ₹15.23 Cr | ₹6.67 Cr | ₹4.05 Cr |
| Net Worth | ₹45.43 Cr | ₹10.74 Cr | ₹7.57 Cr |
| Reserves & Surplus | ₹31.77 Cr | ₹6.13 Cr | ₹2.96 Cr |
L.T. Elevator SME IPO Details
Managed by Horizon Management Pvt. Ltd., the IPO is a book-building issue with a floor price of ₹76 and a cap price of ₹78 per share. Since there is no OFS component, the entire ₹39.37 crore will be available to the company.
| Field | Details |
|---|---|
| IPO Date | Sep 12–16, 2025 |
| Listing Date | Sep 19, 2025 (Tentative) |
| Face Value | ₹10 per share |
| Issue Price Band | ₹76–₹78 per share |
| Lot Size | 1,600 shares |
| Sale Type | Fresh Issue |
| Total Issue Size | 50,48,000 shares (₹39.37 Cr) |
| Reserved for Market Maker | 2,52,800 shares (₹1.97 Cr) – Rainbow Securities Pvt. Ltd. |
| Net Offered to Public | 47,95,200 shares (₹37.40 Cr) |
| Issue Type | Book Building IPO |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 1,41,15,055 shares |
| Shareholding Post-Issue | 1,91,63,055 shares |
Objectives of the Issue
L.T.Elevator has stated the following goals to be achieved by the use of IPO funds:-
- To meet the working capital requirements – ₹20 crores.
- Money will be raised through the issue to the extent of ₹8.8 crore to the wholly-owned subsidiary Park Smart Solutions Limited for the working capital.
- General corporate purposes – to be used for the future growth and business expansion besides stability purposes.
Company Strengths
- L.T.E has a well-known brand with over 15 years of experience in elevator manufacturing.
- With the modern factory in West Bengal, the company has a yearly production capacity of 800 elevators.
- The company has a wide range of products which are diversified enough to cover various customer segments.
- The company has the backing of a strong promoter and the support of a skilled labor force.
- This move will enable the company to enhance its portfolio of products and services through the smart parking solutions.
- L.T.E has been successful in this venture thanks to the company’s own research and development as well as testing facilities.
Risks & Challenges
- Overwhelming market competition from brands that are already well-established in multinational elevator companies dominate urban markets.
- The Construction and Real Estate sectors, on which the company depends, are cyclical by nature.
- The rise in the cost of raw materials may have a negative impact on the company’s margin of profits.
- The increase in production capacity necessitates the raising of a large amount of capital and at the same time the company has to continually come up with new products to attract customers.
- The subsidized minimum amount for retail investors (₹2.49 lakh), which in turn determines the maximum number of investors who can take part in this offer.
Final Words
L.T. Elevator is an excellent addition to the SME IPO market. It complements its already existing manufacturing expertise with a diverse product portfolio, and, apart from this, the company is making a venture into the allied sectors like electric vehicles and smart parking. Its financial performance for FY25 has improved, driven by demand uptick and operating leverage.
Nonetheless, investors should carefully evaluate downside risks, such as cyclical tendencies of the sector and the intensity of competition from global companies. By targeting the IPO money raised for working capital and funding of the subsidiary, the company is aiming to consolidate its position in the Indian elevator market.
FAQ’s
What does L.T.Elevator do?
L.T.Elevator designs and installs elevators and is a company that offers the services of installation, commissioning, maintenance, and EPC.
When will L.T.Elevator SME IPO open and close?
The IPO will start on the 12th of September, 2025 and will end on the 16th of September, 2025.
What is the issue size of L.T.Elevator SME IPO?
The issue size is 39.37 crore, which is an entirely fresh issue of 50.48 lakh shares.
What is the price band for L.T.Elevator SME IPO?
The price range has been set between ₹76 and ₹78 per share and the lot size is 1,600 shares.
Where will L.T.Elevator shares be listed?
The shares would be available on the BSE SME platform.
Who are the promoters of L.T.Elevator?
The promoter group comprises Arvind Gupta, Usha Gupta, and Yash Gupta.
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