On the final day of subscriptions on Tuesday, November 26, the Lamosaic India IPO closed with a respectable level of demand, fueled by individual investors. On the last day of the bidding process, the Rs 61.20 crore NSE SME issue was booked almost two times.
There were 29.07 lakh shares available for subscription, but investors from all categories applied for more than 52.9 lakh shares, resulting in a 1.82-fold overall subscription.
Subscription across categories
In the retail category, the IPO was subscribed for 2.65 times, with bids for 38.62 lakh shares compared to the 14.53 lakh shares reserved for the segment.
There was a 98 per cent subscription rate for the Non-Institutional Investors (NII) quota. Over 14.27 lakh shares were bid on by NIIs, while only 14.53 lakh shares were set aside for the category.
Qualified Institutional Buyers (QIBs) submitted more than 1,200 share applications.
#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
Price band and minimum bid
With a total value of Rs 61.2 crore, the NSE SME issue included a completely new offering of 30.6 lakh shares.
The retail category's minimum lot size was set at 600 shares, requiring a total investment of Rs 1,20,000. Rs 200 per share was the fixed price for the SME issue.
Subscription timetable
Subscriptions for the Lamosaic India IPO were accepted from November 21 to November 26. By Wednesday, November 27, the IPO share allocation status is probably going to be finalized.
The successful bidders will receive shares of the company in their Demat accounts on the same day that the share allocation is finished, and refunds for unsuccessful bidders will be started on Thursday, November 28.
On Friday, November 29, Lamosaic India's shares will be listed on Emerge, the NSE SME platform.
Company financials
For the second quarter of FY25, Lamosaic India reported a profit-after-tax of Rs 10.76 crore on revenue of Rs 72.86 crore. The company's net worth was Rs 26 crore at the end of the September quarter of FY25.
From Rs 31.75 crore in FY23 to Rs 55.65 crore in FY24, the company's revenue increased by more than 75 per cent. For the fiscal year that concluded on March 31, 2024, the net profit was Rs 8.22 crore, which was 102 per cent higher than the Rs 4.07 crore made in the previous fiscal year.
The company's net worth increased by 33 per cent, from Rs 11.43 crore to Rs 15.25 crore in the previous fiscal year.