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The Rs 36.02-crore IPO received a subdued response from investors, with the issue being subscribed 1.91 times during the three-day bidding period. The retail portion was subscribed 2.97 times, while the non-institutional investor (NII) category remained undersubscribed at 0.85 times.
The fixed-price issue comprised a fresh issue worth Rs 28.89 crore and an offer for sale of Rs 7.13 crore. The company plans to utilise the fresh issue proceeds for purchasing machinery, repaying borrowings, meeting working capital requirements and general corporate purposes. Wealth Mine Networks is the book-running lead manager, while KFin Technologies is the registrar.
About the company
Incorporated in 2020, Liotech Industries manufactures hardware structures and accessories used across housing, infrastructure, agriculture, automotive, electricity, cement, mining and engineering sectors.
Its product portfolio includes door kits, hinges, gate hooks, locks, handles, tower bolts and shelf bottoms, along with traded products such as door stoppers, magnets and bed lifters. The company operates a manufacturing facility in Rajkot, Gujarat, and follows a business-to-business model.
Financial performance
Liotech reported healthy growth in FY25. Total income rose to Rs 40.69 crore from Rs 27.87 crore a year earlier, while profit after tax increased to Rs 4.16 crore from Rs 2.93 crore.
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