Lamosaic India's initial public offering (IPO) was only booked 34 per cent on the second day of bidding on friday, November 22, indicating a poor response from investors across all categories.
The bidding period for Lamosaic India Limited's IPO is November 21 to November 26. In contrast to the 29.07 lakh shares available, bids for 9,81,000 shares were received on the second day of the NSE SME IPO.
Subscription across categories
Retail investors applied for 3.28 lakh shares out of the 14.53 lakh shares available, booking their quota at 23 per cent. 35 per cent of the issue is reserved for Non-Institutional Investors (NIIs). Subscribtion to their category stood at 6,52,800 shares out of the 14.53 lakh shares that were reserved for them.
Minimum bid and price band
The entire Rs 61.2 crore Lamosaic India IPO is made up of a new issue of 30.6 lakh shares. At Rs 200 per share, the IPO price has been set.
To participate in the Lamosaic India IPO, retail investors must invest a minimum of Rs 1,20,000, which entitles them to bid on at least 600 shares in a single lot. High-Net-Worth Individuals (HNIs) can, however, bid on two lots or 1,200 shares, which would require a Rs 2,40,000 investment.
#Lamosaic India Services' #IPO launches today. Planning to raise ₹61.20 Cr, it will be open till 26th Nov.
— India IPO (@india_ipo1) November 21, 2024
With market booming, if you are someone from manufacturing & trading industry, now is your time. Connect with #IndiaIPO & plan to capitalize on opportinity.#Mainboardipo pic.twitter.com/TMfCoKT5NR
Subscription and listing 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.
GMP (grey market price)
The GMP of Lamosaic India, stood at Nil, Rs 0 Gmp indicates that the stock will list at the issue price of the IPO which stands at Rs 200 per share.
Company financials
Lamosaic India reported a profit-after-tax of Rs 10.76 crore for Q2FY25, with revenue of Rs 72.86 crore. At the conclusion of the September quarter of FY25, the company's net worth was Rs 26 crore.
The business's revenue climbed by over 75 per cent to Rs 55.65 crore in FY24 from Rs 31.75 crore in FY23. With a net profit of Rs 8.22 crore for the fiscal year that ended on March 31, 2024, it was up 102 per cent from the previous fiscal year's Rs 4.07 crore.
The company's net worth climbed from Rs 11.43 crore in the previous fiscal year to Rs 15.25 crore, a 33 per cent increase.
Disclaimer - This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.