LGT Business Connextions IPO: The initial public offering of LGT Business Connextions opened on the BSE SME platform on August 19 and will close on August 21. The company is looking to raise ₹28.09 crore through this issue. Out of this, ₹25.28 crore will come from a fresh issue while ₹2.81 crore is from an offer-for-sale.
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The IPO comes at a fixed price of ₹107 per share. Investors can only apply in lots of 1200 shares. For retail buyers, the rule is at least two lots, which means they need to spend ₹2,56,800 minimum if they want to take part.
Subscription and Allotment Details
By the end of the second day, the IPO had seen decent demand. It was subscribed 1.25 times in total. The retail section was more active and got booked 1.75 times, while the quota for non-institutional investors stood at 75% subscription. The issue received 31,23,600 bids against 24,93,600 shares on offer.
The allotment of shares is likely to be finalised on August 22, 2025. After that, the shares are expected to list on the stock exchange on August 26m reported Mint.
The grey market premium (GMP) has not shown much excitement so far. Reports said the GMP stood at zero, which means there is no premium or discount over the issue price. If this continues, the listing price may remain the same as the issue price.
LGT Business Connextions
LGT Business Connextions works as a service aggregator in the travel industry. It connects people with many service providers such as airlines, hotels, car rentals, cruises and more. The company focuses on giving a wide range of travel solutions, including customised tourism packages, cruise bookings, MICE travel (meetings, incentives, conferences and exhibitions), hotel reservations, sightseeing tours, and support for trade fair trips.
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They also handle standalone services like hotel stays, ticket bookings, and even visa processing. Their packages are designed for both domestic and international travellers, whether individuals, families, or even big corporate groups.
The company plans to use the money raised from the IPO for capital expenditure, working capital needs, and general corporate purposes.
