LAPL Automotive Ltd IPO
Auto Ancillaries
Price Band
₹88 – ₹94
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹225600
Issue Size
₹32.4Cr
Opens
2026-08-06
Closes
2026-08-10
Listing
13-08-2026
Subscription Status
Qualified Institutional Buyers
200.23 x
Non-Institutional Investor
321.31 x
Retail Individual Investor
384.3 x
Total
318.56 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0X9I01023
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
LAPL Automotive is an automotive components manufacturer operating under Original Design Manufacturing (ODM) and Original Brand Manufacturing (OBM) models. Its product portfolio includes automotive lighting systems, mirrors, plastic-moulded components, and other components and accessories for passenger vehicles, commercial vehicles, two-wheelers, and electric mobility segments. Its lighting products include tail lamps, front and rear indicators, reflex reflectors, head lamps, stop lamps, position lamps, reverse lamps, and roof lamps. The company also manufactures motor components such as starter motors, wiper motors and rotors, along with hoods, stators and small BLDC fans. Under its ODM model, the company designs and manufactures components for customers using their own brands or integrating them into vehicle production. Under the OBM model, it manufactures and supplies products under its “LAPL” brand. The company operates three manufacturing facilities located in Chhatrapati Sambhaji Nagar (formerly Aurangabad), Maharashtra, including two units in MIDC Waluj and one in Auric City, Shendra. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding of capital expenditure requirements towards setting up a new manufacturing facility — Rs 19.56 crore Repayment and/or prepayment of all or a portion of certain outstanding secured borrowings availed by the company — Rs 4.79 crore General corporate purposes.
Pros
- • LAPL Automotive operates through two models — Original Design Manufacturing (ODM) and Original Brand Manufacturing (OBM). This allows the company to manufacture components for customers under their brands as well as sell products under its own “LAPL” brand.
- • The company has in-house capabilities covering product design, engineering, tooling, prototyping, and manufacturing. This allows it to manage multiple stages of product development and production internally.
- • The company manufactures automotive lighting systems, mirrors, plastic-moulded components, motor components, and other accessories. Its products cater to passenger vehicles, commercial vehicles, two-wheelers, and electric mobility segments.
Cons
- • LAPL Automotive generates a major portion of its revenue from customers located in Maharashtra. Revenue from customers in Maharashtra stood at Rs 52.96 crore (85.98%), Rs 54.54 crore (82.90%), Rs 50.26 crore (82.90%), and Rs 51.60 crore (86.12%) for the period ended December 31, 2025 and FY25, FY24, and FY23, respectively. Any disruption in Maharashtra or the western region could hurt the company’s operations and adversely affect its revenue and results of operations.
- • The company derives a significant portion of its revenue from a limited number of customers, with its top 10 customers contributing Rs 58.95 crore (95.71%), Rs 63.42 crore (96.40%), Rs 58.76 crore (96.93%), and Rs 57.84 crore (96.54%) to revenue from operations for the period ended December 31, 2025 and FY25, FY24, and FY23, respectively. Any loss of these customers, significant reduction in purchases, disputes, or a shift to competitors or alternative products could adversely affect the company’s revenue, cash flows, and financial condition.
- • The company is dependent on a limited number of suppliers, with purchases from its top 10 suppliers being Rs 27.96 crore (64.05%), Rs 27.52 crore (61.63%), Rs 24.70 crore (56.85%), and Rs 26.40 crore (53.58%) of total purchases for the period ended December 31, 2025 and FY25, FY24, and FY23, respectively. The company does not have long-term agreements or firm commitments with its suppliers, and any reduction or interruption in supplies from key suppliers could adversely affect its production, business, and financial condition.
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