Lamosaic India IPO Day 3: NSE SME issue booked 1.82 times on high retail demand, check key details

Lamosaic India IPO closed with a decent demand on the last day of subscription on Tuesday, November 26, driven by retail investors. The NSE SME issue was booked nearly 2 times on the last and final day of bidding.

The investors across categories applied for more than 52.9 lakh shares against 29.07 lakh shares offered for subscription, leading to an overall subscription of 1.82 times.

The IPO was subscribed 2.65 times in the retail category with bids for 38.62 lakh shares against 14.53 lakh shares set aside for the segment. The Non-Institutional Investors’ (NII) quota was subscribed 98%. The NIIs placed bids for over 14.27 lakh shares compared to 14.53 lakh shares reserved for the category.

Qualified Institutional Buyers(QIBs) applied for over 1,200 shares of Lamosaic India.

Lamosaic India IPO issue size, price band and other details

The NSE SME issue, worth ₹61.2 crore, consisted of an entirely fresh issue of 30.6 lakh shares.

The minimum lot size for the retail category was fixed at 600 shares, which aggregated to an investment of ₹1,20,000. The price of the SME issue was fixed at ₹200 per share.

Lamosaic India IPO dates

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

Once the allotment of shares is completed, refunds will be initiated for unsuccessful bidders on Thursday, November 28, and the successful bidders will receive shares of the company in their Demat accounts the same day.

Shares of Lamosaic India will be listed on the NSE SME platform, Emerge, on Friday, November 29.

Lamosaic India IPO Registrar

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

Lamosaic India IPO Objective

The company plans to use the money raised via the public issue for repayment of its borrowings, funding incremental working capital requirements, pursuing inorganic growth and for other general corporate purposes.

About Lamosaic India

Lamosaic India was founded in January 2020. The company manufactures and sells interior decoration-related products such as flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood. It also manufactures and supplies laminated and decorative flush doors based on order. The company primarily conducts business in Maharashtra.