Lamosaic India IPO Fully Subscribed On Day Three; Check Subscription Status And GMP Details

Lamosaic India Ltd. launched its initial public offering (IPO) on Nov. 21 and was subscribed 0.22 times on the opening day. The IPO was subscribed 0.59 times on Friday and has been subscribed 1.09 times so far on Monday.

The Lamosaic India IPO is a book-building issue worth Rs 61.2 crore. The NSE SME IPO comprises entirely a fresh issue of 30.6 lakh shares and there is no offer-for-sale (OFS) component.

Here are the important details about the Lamosaic India IPO:

Lamosaic India IPO will be available for subscription till Nov. 26. The IPO share allotment status is expected to be finalised on Nov. 27. The company is likely to initiate refunds and credit of shares to the Demat accounts on Nov. 28. Shares of Lamosaic India are scheduled to be listed on the NSE SME platform, Emerge, on Nov 29.

The Lamosaic India IPO issue price has been fixed at Rs 200 per share. Retail investors have to buy at least a single lot comprising 600 shares, amounting to a minimum investment of Rs 1,20,000.

Lamosaic India IPO's book-running lead manager is Inventure Merchant Banker Services Pvt. Ltd. The registrar for the NSE SME issue is Kfin Technologies Ltd. and the market maker is SVCM Securities.

Lamosaic India IPO GMP (grey market premium) stood at Rs 0 at 1:32 p.m. on Nov 25, according to InvestorGain. This indicates a flat listing with the listing price of Rs 200 per share.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Lamosaic India sells flush doors, decorative laminates, acrylic sheets, printing paper(base) and plywood. The company's clients are primarily from the real estate and infrastructure industry and construction industry. The company's portfolio includes Flush Doors, Decorative Laminates, Acrylic Sheets, Printing Paper (Base) and Plywood. The company operates only in the state of Maharashtra. The company sells its products directly in the market through other sellers and also through its franchisee store located in Mumbai.

Use Of Proceeds

The company plans to use the money raised via the public issue for repaying its borrowings, meeting incremental working capital requirements and pursuing inorganic growth. A portion of the proceeds will also be used for general corporate purposes.

Financials

Lamosaic India Ltd. reported a revenue of Rs 55.64 crore in FY24, a 75% year-on-year rise from Rs 31.67 crore in the previous fiscal. The company’s profit after tax (PAT) also surged nearly 102% to Rs 8.22 crore in FY24 from Rs 4.07 crore in FY23. In the quarter ending Sept 30, 2024, the company’s revenue stood at Rs 72.82 crore and net profit at Rs 10.76 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.