LAPL Automotive IPO GMP Today

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.