LAPL Automotive IPO was an SME book-built public issue of LAPL Automotive Limited. The company raised ₹32.40 crore through a fresh issue of 34,46,400 equity shares. The equity shares had a face value of ₹10 each and were offered in the price band of ₹88 to ₹94 per share. The issue was listed on the BSE SME platform.
The IPO opened for subscription on August 6, 2026, and closed on August 10, 2026. The basis of allotment was finalised on August 11, refunds were initiated on August 12, and the shares were listed on August 13, 2026.
LAPL Automotive Limited is an automotive components manufacturer engaged in both Original Design Manufacturing (ODM) and Original Brand Manufacturing (OBM). Its product portfolio includes automotive lighting systems, mirrors, motor components and plastic-moulded components.
The company serves customers in automotive segments covering passenger vehicles, commercial vehicles, two-wheelers, three-wheelers and electric mobility applications. Its manufacturing operations are based in the Aurangabad region of Maharashtra, including facilities at MIDC Waluj and Auric City, Shendra.
The company reported total income of ₹94.32 crore and profit after tax of ₹8.63 crore in FY2026, compared with total income of ₹67.07 crore and PAT of ₹5.03 crore in FY2025.
The IPO proceeds were primarily intended for establishing an additional manufacturing facility at Auric City, Aurangabad, repayment or prepayment of certain secured borrowings and general corporate purposes.
IPO Details
| Information | Details |
|---|---|
| IPO Name | LAPL Automotive IPO |
| Company Name | LAPL Automotive Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹88 to ₹94 Per Share |
| Issue Size | ₹32.40 Crore |
| Fresh Issue | 34,46,400 Equity Shares |
| Offer for Sale | Nil |
| IPO Open Date | 6 August 2026 |
| IPO Close Date | 10 August 2026 |
| Anchor Investor Bidding | 5 August 2026 |
| Basis of Allotment | 11 August 2026 |
| Refund Initiation | 12 August 2026 |
| Shares Credited to Demat Account | 12 August 2026 |
| Listing Date | 13 August 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Shares |
| Minimum Retail Application | 2 Lots / 2,400 Shares |
| Registrar | Maashitla Securities Private Limited |
| Lead Manager | GYR Capital Advisors Private Limited |
| Market Makers | Giriraj Stock Broking Private Limited and Mansi Share and Stock Broking Private Limited |
The issue comprised 34,46,400 equity shares, including a market-maker reservation portion of 1,72,800 shares. The net issue available to public investors, excluding the market-maker portion, was 32,73,600 shares.
LAPL Automotive IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 5 August 2026 |
| IPO Opening Date | 6 August 2026 |
| IPO Closing Date | 10 August 2026 |
| Basis of Allotment | 11 August 2026 |
| Refund Initiation | 12 August 2026 |
| Shares Credited to Demat Account | 12 August 2026 |
| Listing Date | 13 August 2026 |
LAPL Automotive IPO Reservation
| Investor Category | Shares Offered | Approx. Allocation |
|---|---|---|
| Anchor Investors | 9,76,800 Shares | 28.34% |
| QIBs – Excluding Anchor | 6,52,800 Shares | 18.94% |
| Non-Institutional Investors | 4,96,800 Shares | 14.42% |
| Retail Individual Investors | 11,47,200 Shares | 33.29% |
| Market Maker | 1,72,800 Shares | 5.01% |
| Total | 34,46,400 Shares | 100% |
The issue provided separate allocations for qualified institutional buyers, non-institutional investors and retail investors, along with an anchor allocation and market-maker reservation.
LAPL Automotive IPO Lot Size
The minimum bid quantity was 1,200 shares, while an individual investor’s minimum application required two lots, or 2,400 shares.
| Application | Lots | Shares | Amount at ₹94 |
|---|---|---|---|
| Individual Investor – Minimum | 2 Lots | 2,400 Shares | ₹2,25,600 |
| Individual Investor – Maximum | 2 Lots | 2,400 Shares | ₹2,25,600 |
| S-HNI Minimum | 3 Lots | 3,600 Shares | ₹3,38,400 |
| S-HNI Maximum | 8 Lots | 9,600 Shares | ₹9,02,400 |
| B-HNI Minimum | 9 Lots | 10,800 Shares | ₹10,15,200 |
LAPL Automotive IPO Anchor Investors
LAPL Automotive completed its anchor-investor bidding on August 5, 2026, one day before the public issue opened.
| Particular | Details |
|---|---|
| Anchor Bidding Date | 5 August 2026 |
| Anchor Shares | 9,76,800 Shares |
| Anchor Allocation | ₹9.18 Crore |
| Price Per Share | ₹94 |
| Anchor Portion | 28.34% of Total Issue |
The anchor allocation was made at the upper end of the price band.
About LAPL Automotive Limited
LAPL Automotive Limited was incorporated in 2004 and operates as an automotive components manufacturer. The company works under both ODM and OBM models, giving it capabilities across product development, manufacturing and supply of automotive components.
Its product portfolio covers three important areas: lighting, motor components and mirrors. The lighting range includes tail lamps, indicators, headlamps, stop lamps, position lamps, reverse lamps and other automotive lighting products.
The company also manufactures motor-related components and rear-view mirrors for automotive applications. Its products are designed for different vehicle categories, including two-wheelers, three-wheelers, passenger vehicles and commercial vehicles.
LAPL Automotive has developed in-house engineering, manufacturing and testing capabilities. Its website states that the company has more than 20 years of experience, over 600 products and more than 120 customers.
Business Operations
LAPL Automotive operates through multiple automotive component categories:
- Automotive Lighting: Manufacturing headlamps, tail lamps, indicators, position lamps, reverse lamps and other lighting products.
- Motor Components: Manufacturing components used in automotive motor applications.
- Rear-View Mirrors: Producing mirrors for two-wheelers and other vehicle applications.
- Plastic-Moulded Components: Manufacturing precision plastic components for automotive use.
- ODM Manufacturing: Developing and manufacturing products based on customer requirements.
- OBM Manufacturing: Supplying products under the company’s own LAPL brand.
- Engineering and Tooling: Supporting product development and manufacturing through in-house engineering capabilities.
- Testing and Quality Control: Maintaining internal testing and quality-assurance capabilities for automotive components.
Industry Overview
India’s automotive components industry benefits from the continued development of passenger vehicles, commercial vehicles, two-wheelers, electric vehicles and replacement markets.
Automotive manufacturers increasingly require suppliers capable of delivering components that meet quality, safety, regulatory and performance requirements. This creates opportunities for component manufacturers with established manufacturing and testing capabilities.
The transition toward electric mobility is also changing the automotive component landscape. Although electric vehicles have different powertrain requirements, several components such as lighting systems, mirrors, plastic components and other vehicle accessories continue to be required.
The automotive components industry remains highly competitive, however. Suppliers face pressure relating to pricing, quality, delivery schedules, raw-material costs and technological changes.
Customer concentration can also be an important consideration because automotive component manufacturers often depend on purchase orders and production schedules from major customers.
Business Strategy
LAPL Automotive’s strategy is focused on expanding its manufacturing capabilities and increasing its presence across automotive component categories.
The company plans to establish an additional manufacturing facility at Auric City, Shendra, Aurangabad. The proposed facility is expected to increase manufacturing capacity and support future business expansion.
The company’s integrated ODM and OBM approach allows it to participate in product development as well as manufacturing. This can help create closer relationships with customers and support repeat business.
LAPL Automotive also maintains a diversified product portfolio covering lighting, motors, mirrors and plastic-moulded components. Its presence in multiple automotive categories provides opportunities to serve different vehicle segments.
LAPL Automotive IPO Financial Information
LAPL Automotive reported strong growth in revenue and profitability during the reported financial years.
Total income increased from ₹61.03 crore in FY2024 to ₹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 also increased its net worth from ₹11.59 crore in FY2024 to ₹25.25 crore in FY2026. Total borrowings declined from ₹13.37 crore in FY2024 to ₹7.84 crore in FY2026.
LAPL Automotive Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹61.03 Crore | ₹67.07 Crore | ₹94.32 Crore |
| EBITDA | ₹5.38 Crore | ₹9.94 Crore | ₹15.80 Crore |
| Profit After Tax | ₹2.17 Crore | ₹5.03 Crore | ₹8.63 Crore |
| Net Worth | ₹11.59 Crore | ₹16.63 Crore | ₹25.25 Crore |
| Total Assets | ₹32.79 Crore | ₹44.34 Crore | ₹62.68 Crore |
| Total Borrowings | ₹13.37 Crore | ₹15.79 Crore | ₹7.84 Crore |
| Reserves & Surplus | ₹8.39 Crore | ₹7.83 Crore | ₹16.45 Crore |
The company’s financial performance improved significantly in FY2026, with total income increasing by approximately 40.6% over FY2025 and PAT increasing by approximately 71.6%.
LAPL Automotive IPO Key Performance Indicators (KPIs)
| KPI | FY2026 |
|---|---|
| ROE | 41.20% |
| ROCE | 34.37% |
| EBITDA Margin | 16.75% |
| PAT Margin | 9.25% |
| Debt-to-Equity Ratio | 0.83 |
| Return on Net Worth | 34.16% |
| EPS – Pre IPO | ₹9.49 |
| NAV Per Equity Share | ₹28.70 |
| P/E – Pre IPO | 9.91x |
| P/E – Post IPO | 13.66x |
The FY2026 figures indicate strong reported returns on equity and capital employed. Profitability also improved alongside revenue growth.
LAPL Automotive IPO Valuation
| Particular | Details |
|---|---|
| Upper Price Band | ₹94 |
| FY2026 EPS | ₹9.49 |
| NAV | ₹28.70 |
| Pre-Issue P/E | 9.91x |
| Post-Issue P/E | 13.66x |
| Price-to-Book at Upper Band | Approximately 3.28x |
The valuation should be assessed alongside the company’s growth rate, customer concentration, manufacturing capacity, order visibility and risks associated with the automotive components industry.
Objects of the LAPL Automotive IPO
The fresh issue proceeds were intended for expanding manufacturing capacity, reducing selected borrowings and meeting general corporate requirements.
| Purpose | Amount |
|---|---|
| New Manufacturing Facility at Auric City, Aurangabad | ₹19.56 Crore |
| Repayment / Pre-payment of Certain Secured Borrowings | ₹4.79 Crore |
| General Corporate Purposes | ₹4.81 Crore |
| Issue Expenses | ₹3.24 Crore |
| Total | ₹32.40 Crore |
The largest portion of the proceeds, ₹19.56 crore, was allocated toward the proposed additional manufacturing facility at Auric City, Aurangabad. Another ₹4.79 crore was intended for repayment or prepayment of selected secured borrowings.
LAPL Automotive IPO GMP
Grey Market Premium is an unofficial indicator and should not be treated as a guaranteed listing price or investment return.
| Date | GMP |
|---|---|
| 2 August 2026 | ₹25 |
| 3 August 2026 | ₹27 |
| 4 August 2026 | ₹27 |
| 5 August 2026 | ₹30 |
| 6 August 2026 | ₹32 |
| 7 August 2026 | ₹32 |
| 8 August 2026 | ₹35 |
| 9 August 2026 | ₹35 |
| 10 August 2026 | ₹39 |
| 11 August 2026 | ₹47 |
| 12 August 2026 | ₹49 |
| 13 August 2026 | ₹50 |
The GMP increased substantially during the IPO period and reached around ₹50 before listing. However, grey-market quotations are unofficial, can change rapidly and should not be considered a reliable guarantee of listing performance.
LAPL Automotive IPO Listing Performance
LAPL Automotive shares were listed on the BSE SME platform on August 13, 2026.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 13 August 2026 |
| Issue Price | ₹94 Per Share |
| Listing Price | ₹135 Per Share |
| Listing Gain | ₹41 Per Share |
| Listing Gain (%) | 43.62% |
The shares opened at ₹135 against the issue price of ₹94, resulting in a listing gain of ₹41 per share, or approximately 43.62%.
LAPL Automotive IPO Subscription Status
The IPO received exceptionally strong demand across all major investor categories.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 200.23x |
| Non-Institutional Investors (NII) | 321.71x |
| Retail Individual Investors (RII) | 387.78x |
| Total Subscription | 320.29x |
The retail category recorded the highest subscription, followed by NII and QIB categories. The overall issue was subscribed more than 320 times.
LAPL Automotive IPO Review
LAPL Automotive operates in the automotive components industry with an integrated ODM and OBM business model. Its product portfolio covers lighting systems, mirrors, motor components and plastic-moulded products, giving it exposure to multiple vehicle categories.
A major strength is its financial growth. Total income increased from ₹61.03 crore in FY2024 to ₹94.32 crore in FY2026, while PAT increased from ₹2.17 crore to ₹8.63 crore over the same period. EBITDA also increased from ₹5.38 crore to ₹15.80 crore.
The company also reported strong FY2026 return ratios, including ROE of 41.20% and ROCE of 34.37%. Its debt-to-equity ratio stood at 0.83.
The proposed new manufacturing facility at Auric City is another important growth factor. The ₹19.56 crore allocation toward the facility is intended to expand manufacturing capacity and support future business requirements.
LAPL Automotive also benefits from an integrated manufacturing model. In-house engineering, product development, tooling and testing capabilities can help the company respond to customer requirements and maintain quality standards.
However, the business has meaningful customer and geographical concentration risks. More than 95% of operating revenue came from its top 10 customers in FY2026, while approximately 86.10% of operating revenue was generated from Maharashtra.
The company is also dependent on raw-material availability and pricing. Automotive customers can exert pricing pressure, while purchase orders and production schedules can change according to vehicle demand.
Overall, LAPL Automotive has demonstrated strong financial growth and operates in a large automotive components market. Its proposed manufacturing expansion provides a potential growth opportunity, but investors should carefully evaluate customer concentration, geographical dependence, raw-material risks and the additional risks associated with SME-listed companies.
LAPL Automotive IPO Strengths
- Integrated ODM and OBM business model.
- Product portfolio covering lighting, motors, mirrors and plastic-moulded components.
- More than 20 years of operating experience.
- In-house engineering, manufacturing and testing capabilities.
- Manufacturing facilities located in an important automotive industrial region.
- Strong revenue growth between FY2024 and FY2026.
- PAT increased substantially during the reported period.
- FY2026 ROE of 41.20%.
- FY2026 ROCE of 34.37%.
- Proposed new manufacturing facility can increase production capacity.
- Borrowings declined from ₹15.79 crore in FY2025 to ₹7.84 crore in FY2026.
LAPL Automotive IPO Risk Factors
- High customer concentration creates dependence on a limited number of customers.
- Top 10 customers contributed more than 95% of operating revenue in FY2026.
- A large portion of revenue is generated from Maharashtra.
- Raw-material prices can affect manufacturing margins.
- The company does not have long-term binding supply agreements with all customers.
- Automotive demand can fluctuate with economic and industry conditions.
- Competition in automotive components can put pressure on pricing and margins.
- Expansion of manufacturing capacity will require successful execution.
- Dependence on purchase orders can create uncertainty in future revenue.
- SME-listed shares can have lower liquidity and higher price volatility than larger listed companies.
LAPL Automotive IPO Promoters
The promoters of LAPL Automotive Limited are Neeraj Satyaprakash Goyal, Shubham Neeraj Goyal and Anita Neeraj Goyal.
Before the IPO, the promoter and promoter-group holding was approximately 96.79%. Following the issue, promoter and promoter-group ownership reduced to approximately 70.17%.
LAPL Automotive IPO Promoters Details
| Promoter | Status |
|---|---|
| Neeraj Satyaprakash Goyal | Promoter |
| Shubham Neeraj Goyal | Promoter |
| Anita Neeraj Goyal | Promoter |
LAPL Automotive IPO Management Team
The company is managed by a team responsible for manufacturing, engineering, finance, administration, compliance and business development.
| Particular | Details |
|---|---|
| Promoter | Neeraj Satyaprakash Goyal |
| Promoter | Shubham Neeraj Goyal |
| Promoter | Anita Neeraj Goyal |
| Company Secretary & Compliance Officer | Company-designated compliance function |
The promoters have experience in the automotive components business and oversee the company’s manufacturing and commercial operations.
LAPL Automotive IPO Registrar Details
| Particular | Details |
|---|---|
| Registrar Name | Maashitla Securities Private Limited |
| Role | Registrar to the Issue |
| Contact Number | 011-45121795 |
| Email ID | [email protected] |
Maashitla Securities Private Limited acted as the registrar responsible for application processing, allotment, refunds and related investor services.
LAPL Automotive IPO Lead Manager Details
| Particular | Details |
|---|---|
| Lead Manager | GYR Capital Advisors Private Limited |
| Role | Book Running Lead Manager |
| Market Maker | Giriraj Stock Broking Private Limited |
| Market Maker | Mansi Share and Stock Broking Private Limited |
GYR Capital Advisors Private Limited acted as the lead manager for the IPO.
LAPL Automotive Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | LAPL Automotive Limited |
| Registered Office | Plot No. C-241, MIDC Waluj, Aurangabad, Maharashtra – 431133 |
| Manufacturing Location | Auric City, Shendra Industrial Area, Aurangabad, Maharashtra |
| Website | https://www.laplautomotive.com/ |
| Email ID | [email protected] |
| Contact Number | +91 83789 94623 |
| CIN | U34300MH2004PLC149728 |
The company was originally incorporated as LAPL Automotive Private Limited in 2004 and was subsequently converted into a public limited company.
How to Check LAPL Automotive IPO Allotment Status
Investors can check the LAPL Automotive IPO allotment status through the registrar’s online facility.
Through Maashitla Securities
- Open the IPO allotment facility.
- Select LAPL Automotive Limited.
- Choose the relevant search option.
- Enter the PAN, application number or DP/Client ID.
- Complete the required verification.
- Submit the details to view the allotment status.
Through Stock Exchange
Investors can also check the allotment information through the relevant exchange facility using their application details.
The basis of allotment was finalised on August 11, 2026, refunds and demat-credit activities followed on August 12, and the shares were listed on August 13, 2026.
LAPL Automotive IPO Conclusion
LAPL Automotive IPO offered investors exposure to an automotive components manufacturer operating across lighting, mirrors, motors and plastic-moulded products. The company’s integrated ODM and OBM model gives it capabilities across product development and manufacturing.
The company’s financial performance improved considerably during FY2024 to FY2026. Total income increased from ₹61.03 crore to ₹94.32 crore, while PAT increased from ₹2.17 crore to ₹8.63 crore. EBITDA also rose from ₹5.38 crore to ₹15.80 crore.
The proposed Auric City manufacturing facility is an important part of the company’s growth plan. The company allocated ₹19.56 crore of the IPO proceeds toward the new facility, while ₹4.79 crore was earmarked for repayment or prepayment of selected borrowings.
The company’s FY2026 return ratios were strong, with ROE at 41.20% and ROCE at 34.37%. At the same time, investors need to consider customer concentration, geographical concentration, raw-material price fluctuations and competitive pressures.
The IPO received extremely strong subscription demand of approximately 320.29 times overall and the shares listed at ₹135 against the issue price of ₹94, resulting in a listing gain of approximately 43.62%.
For long-term investors, the important factors will be the successful commissioning and utilisation of the new facility, customer diversification, revenue growth, margin sustainability and efficient management of operating risks.
LAPL Automotive IPO FAQs
What is LAPL Automotive IPO?
LAPL Automotive IPO was an SME book-built public issue of LAPL Automotive Limited comprising 34,46,400 fresh equity shares and aggregating up to ₹32.40 crore.
What was the LAPL Automotive IPO price band?
The price band was ₹88 to ₹94 per equity share.
What was the LAPL Automotive IPO lot size?
The market lot was 1,200 shares, while the minimum individual-investor application was 2 lots, or 2,400 shares, requiring ₹2,25,600 at the upper price band.
When was the LAPL Automotive IPO allotment date?
The basis of allotment was finalised on August 11, 2026.
When was the LAPL Automotive IPO listing date?
LAPL Automotive shares were listed on the BSE SME platform on August 13, 2026.
What was the LAPL Automotive IPO listing price?
The shares listed at ₹135 against the issue price of ₹94.
What was the LAPL Automotive IPO listing gain?
The stock listed at ₹135, representing a gain of ₹41 per share or approximately 43.62% over the issue price.
What was the LAPL Automotive IPO subscription status?
The IPO was subscribed approximately 320.29 times overall, with QIBs at 200.23x, NIIs at 321.71x and retail investors at 387.78x.
What was the LAPL Automotive IPO GMP?
The GMP reached approximately ₹50 before listing. GMP is unofficial and does not guarantee the actual listing price.
What does LAPL Automotive Limited do?
LAPL Automotive Limited manufactures automotive components including lighting systems, mirrors, motor components and plastic-moulded products and operates under ODM and OBM business models.
