Lamosaic India IPO Day 1: NSE SME issue subscribed 22%, check offer size, price band and other key details

Lamosaic India saw a weak response from investors across categories on the first day of bidding on Thursday, November 1, as its initial public offering (IPO) was only booked 22%.

The retail investors booked their quota 9% with applications for 1.32 lakh shares against 14.53 lakh shares on offer. The Non-Institutional Investors (NIIs) subscribed their category by 35%. The NIIs submitted bids for 5,20,800 shares against 14.53 lakh shares set aside for them.

Lamosaic India IPO offer size, price band and minimum investment

Lamosaic India IPO, worth ₹61.2 crore, comprises entirely a fresh issuance of 30.6 lakh shares. The IPO price has been fixed at ₹200 per share.

Retail investors interested in applying for the Lamosaic India IPO can place bids for at least 600 shares in a single lot, amounting to a minimum investment of ₹1,20,000. On the other hand, High-Net-Worth Individuals (HNIs) can place bids for 2 lots or 1,200 shares, amounting to an investment of ₹2,40,000.

Lamosaic India IPO dates

Lamosaic India IPO is open for subscription from November 21 to November 26. The IPO share allotment status is likely to be finalised on Wednesday, November 27.

After finalising the share allotment status, refunds will be initiated for unsuccessful bidders on Thursday, November 28. Successful bidders will receive shares of Lamosaic India in their Demat accounts on the same day as well.

Lamosaic India shares will be listed on the NSE SME platform, Emerge. The tentative listing date for Lamosaic India IPO has been fixed as November 29.

Lamosaic India IPO Registrar

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

Lamosaic India Promoters

Lamosaic India’s promoters include Vinod Juthala Visaria, Jay Manilal Chheda, and Jitesh Khushalchand Mamaniya. The promoters held a 100% stake in the company before the issue, but their shareholding will reduce to 70.4% after the public issue.

Lamosaic India key financials

Lamosaic India’s revenue for Q2FY25 stood at ₹72.86 crore, the company posted a profit-after-tax of ₹10.76 crore. The company’s net worth stood at ₹26 crore at the end of the September quarter of FY25.

In FY24, the company’s revenue increased more than 75% to ₹55.65 crore compared to ₹31.75 crore in FY23. Its net profit for the fiscal ended March 31, 2024, stood at ₹8.22 crore, up 102% compared to ₹4.07 crore in the preceding fiscal.

The company’s networth increased over 33% to ₹15.25 crore from ₹11.43 crore in the preceding fiscal.

Lamosaic India IPO objective

The company plans to use the funds generated via the public issue for repaying its borrowings, meeting working capital requirements, pursuing inorganic growth and general corporate purposes.

About Lamosaic India Ltd

Lamosaic India Ltd was founded in January 2020. The company sells products such as flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood. The company also manufactures laminated and decorative flush doors on order. The company employed nine workers as of September 30, 2024.