LAPL Automotive IPO
LAPL Automotive IPO was a book-built SME issue of ₹32.40 crore, consisting entirely of a Fresh Issue of 34,46,400 equity shares. The price band was ₹88 to ₹94 per share, with a lot size of 1,200 shares and a minimum application of 2,400 shares.
LAPL Automotive IPO Details
LAPL Automotive IPO opened for subscription on August 6, 2026 and closed on August 10, 2026. The basis of allotment was finalized on August 11, refunds and Demat credit were initiated on August 12, and the shares were listed on the BSE SME platform on August 13, 2026. The final issue price was ₹94 per share and the shares listed at ₹135 per share.
LAPL Automotive IPO GMP
The reported final pre-listing GMP for LAPL Automotive IPO was approximately ₹50 against the issue price of ₹94. This indicated an unofficial estimated price of around ₹144. The actual listing price was ₹135. GMP is unofficial grey-market information and is not a guarantee of listing performance.
LAPL Automotive IPO Timeline (Tentative)
LAPL Automotive IPO opened on August 6, 2026 and closed on August 10, 2026. The basis of allotment was completed on August 11, followed by refund initiation and share credit on August 12. The shares were listed on BSE SME on August 13, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Thu, Aug 6, 2026 |
| IPO Close Date | Mon, Aug 10, 2026 |
| Basis of Allotment | Tue, Aug 11, 2026 |
| Initiation of Refunds | Wed, Aug 12, 2026 |
| Credit of Shares to Demat | Wed, Aug 12, 2026 |
| Listing Date | Thu, Aug 13, 2026 |
| IPO Opens | August 6, 2026 |
| IPO Closes | August 10, 2026 |
| Basis of Allotment | August 11, 2026 |
| Refund Initiation | August 12, 2026 |
| Credit of Shares to Demat | August 12, 2026 |
| Listing Date | August 13, 2026 |
LAPL Automotive IPO Lot Size
The LAPL Automotive IPO lot size was 1,200 shares. Retail investors were required to apply for a minimum of 2 lots, or 2,400 shares. At the upper price band of ₹94, the minimum retail investment was ₹2,25,600. Small HNI investors could apply for at least 3 lots, while Big HNI investors could apply for at least 9 lots.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,25,600 |
| Retail (Max) | 2 | 2,400 | 2,25,600 |
| S-HNI (Min) | 3 | 3,600 | 3,38,400 |
| S-HNI (Max) | 8 | 9,600 | 9,02,400 |
| B-HNI (Min) | 9 | 10,800 | 10,15,200 |
LAPL Automotive IPO Reservation
The issue included allocations for Qualified Institutional Buyers, Non-Institutional Investors and Retail Individual Investors, together with an anchor investor portion and market-maker reservation. The QIB, NII and retail portions represented approximately 19%, 14.25% and 33.25% of the total issue respectively.
LAPL Automotive IPO Subscription
LAPL Automotive IPO attracted substantial demand during the three-day bidding period. The final subscription was reported at approximately 320.29 times overall, with QIBs subscribed 200.23 times, NIIs 321.71 times and retail investors 387.78 times.
| Category | Subscription (times) |
|---|---|
| QIB | 200.23x |
| NII | 321.71x |
| RII | 387.78x |
| Total | 320.29x |
About LAPL Automotive
LAPL Automotive Limited was originally incorporated as LAPL Automotive Private Limited in 2004 and was subsequently converted into a public limited company in December 2024. The company is engaged in designing, manufacturing and supplying automotive components and accessories.
The company operates as an Original Design Manufacturer (ODM) and Original Brand Manufacturer (OBM) under its proprietary LAPL brand. Its product portfolio includes automotive lighting systems, mirrors, plastic-moulded components, motors and other automotive components and accessories.
Its lighting portfolio includes products such as tail lamps, front and rear indicators, reflex reflectors, headlamps, stop lamps, position lamps, reverse lamps and roof lamps. The company also manufactures products such as starter motors, wiper motors, rotors, small BLDC fans and other components for different vehicle applications.
LAPL Automotive caters to automobile OEMs and customers across passenger vehicles, commercial vehicles, two-wheelers and electric mobility segments. The company has three manufacturing facilities in Aurangabad, Maharashtra, covering lighting, mirror assembly, storage, starter motors, wiper motors, BLDC fans and rotor assemblies.
The company follows an integrated approach covering design, engineering, tooling, prototyping and manufacturing. It also operates an in-house testing facility for quality and environmental testing, while certain products have certifications from agencies including CIRT, ICAT, VRDE and ARAI as required by customers.
Strengths
- Integrated ODM and OBM business model.
- In-house design, engineering, tooling, prototyping and manufacturing capabilities.
- Diversified portfolio of automotive components and accessories.
- Manufacturing presence across three facilities in Aurangabad.
- Established customer relationships and repeat business.
- Ability to provide customised automotive component solutions.
- Experience in automotive lighting and related components.
- In-house testing and quality-assurance capabilities.
- Exposure to passenger vehicles, commercial vehicles, two-wheelers and electric mobility segments.
- More than two decades of operating experience in the automotive components industry.
Risks to Consider
- Revenue is highly concentrated among a limited number of customers, with the top 10 customers contributing approximately 95.71% of revenue from operations for the period ended December 31, 2025.
- A significant portion of sales is concentrated in Maharashtra.
- The company depends on a limited number of suppliers for raw materials and does not have long-term agreements with some suppliers.
- Fluctuations in raw-material prices can affect manufacturing costs and profitability.
- The business is working-capital intensive.
- The company operates in a competitive automotive-components industry.
- Delays in setting up the proposed manufacturing facility could affect expansion plans.
- Manufacturing operations are exposed to equipment failure, accidents, fire and other operational risks.
- The company requires various statutory approvals, licences and registrations for its operations.
- Capacity under-utilisation could adversely affect operating efficiency.
- Dependence on skilled and experienced personnel may affect operations if key employees leave.
- Changes in automotive-industry regulations and government policies may affect the business.
- The company has exposure to legal proceedings and claims disclosed in the offer document.
LAPL Automotive Financials (₹ Cr)
LAPL Automotive reported growth in revenue and profitability between FY2024 and FY2026. Total income increased from ₹61.03 crore in FY2024 to ₹94.32 crore in FY2026, while profit after tax increased from ₹2.17 crore to ₹8.63 crore. Total assets increased from ₹32.79 crore to ₹62.68 crore during the same period.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 61.03 | 2.17 | 32.79 | 11.59 |
| FY2025 | 67.07 | 5.03 | 44.34 | 16.63 |
| FY2026 | 94.32 | 8.63 | 62.68 | 25.25 |
KPIs & Valuation
At the upper issue price of ₹94, LAPL Automotive reported pre-IPO EPS of ₹9.49 and post-IPO EPS of ₹6.88. The pre-IPO P/E was 9.91x and the post-IPO P/E was 13.66x. FY2026 RoNW was 34.16%, ROCE was 34.37% and NAV was ₹28.70 per share.
Objects of the Issue
The company proposed to utilise the Net Proceeds from the Fresh Issue primarily for establishing an additional manufacturing facility at Auric City, Shendra, Aurangabad. The proceeds were also intended for repayment or prepayment of certain secured borrowings and general corporate purposes.
- The company proposed to utilise the IPO proceeds for:
- Funding capital expenditure requirements towards setting up an additional manufacturing facility at Plot No. 68-1, Sector No. 5, Auric City, Shendra, Aurangabad, Maharashtra – approximately ₹19.56 crore.
- Repayment and/or prepayment of all or a portion of certain outstanding secured borrowings – approximately ₹4.79 crore.
- General corporate purposes – balance amount.
Promoters, Lead Managers & Registrar
LAPL Automotive Limited is promoted by Neeraj Satyaprakash Goyal, Shubham Neeraj Goyal and Anita Neeraj Goyal. GYR Capital Advisors Private Limited acted as the Book Running Lead Manager, while Maashitla Securities Private Limited acted as the Registrar to the Issue. Giriraj Stock Broking Private Limited and Mansi Share & Stock Broking Private Limited acted as market makers.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Maashitla Securities Private Limited |
|---|---|
| Phone | 011-45121795 |
| mailto:investor.ipo@maashitla.com | |
| Website | https://maashitla.com/ |
LAPL Automotive IPO Review
LAPL Automotive recorded total income of ₹61.03 crore in FY2024, ₹67.07 crore in FY2025 and ₹94.32 crore in FY2026. Profit after tax increased from ₹2.17 crore in FY2024 to ₹5.03 crore in FY2025 and ₹8.63 crore in FY2026.
The company's EBITDA increased from ₹5.38 crore in FY2024 to ₹9.94 crore in FY2025 and ₹15.80 crore in FY2026. Net worth increased from ₹11.59 crore in FY2024 to ₹16.63 crore in FY2025 and ₹25.25 crore in FY2026.
LAPL Automotive has an established presence in the automotive-components industry, with operations spanning ODM and OBM models. Its product range and in-house engineering and manufacturing capabilities provide exposure to multiple vehicle categories.
The proposed manufacturing expansion is intended to increase production capacity and support the company's future growth. The company also plans to improve manufacturing efficiency through selective backward integration, automation and greater in-house production capabilities.
At the upper issue price of ₹94, the reported pre-IPO EPS was ₹9.49 and post-IPO EPS was ₹6.88. The corresponding P/E ratios were approximately 9.91x and 13.66x respectively.
For FY2026, the company reported RoNW of 34.16%, ROCE of 34.37%, EBITDA margin of 16.75%, PAT margin of 9.25% and debt-to-equity of 0.83x. NAV was ₹28.70 per share.
The key factors for investors to evaluate include customer concentration, geographic concentration, raw-material sourcing, working-capital requirements, competition and the execution of the proposed manufacturing expansion.
How to Apply
LAPL Automotive IPO applications could be made through the applicable ASBA and UPI-supported IPO application process. The minimum retail application was 2,400 shares, requiring ₹2,25,600 at the upper price band of ₹94.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select LAPL Automotive IPO.
- Enter the required number of lots.
- Select the applicable bid price or Cut-off option where permitted.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application after receiving the mandate request.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account until the allotment process is completed.
Prospectus & Documents
Investors can refer to the company's official website and IPO material documents for information relating to the issue, financial statements, risk factors, capital structure, objects of the issue and statutory disclosures. The company's website provides an IPO section and a material-documents section containing relevant issue documents.
Last updated Sep 1, 2026.