Lamosaic India IPO to open on November 21; issue price fixed at ₹200 apiece. Check GMP, other details | Stock Market News

Lamosaic India IPO will open for subscription on Thursday, November 21, and close on Tuesday, November 26. Lamosaic India IPO price has been fixed at ₹200 per equity share of face value of ₹10 each. Bids can be made for a minimum of 600 equity shares and in multiples of 600 equity shares thereafter.

Lamosaic India Limited, established in January 2020, has quickly become a significant competitor in the decorative laminates and plywood sector. The company provides an array of premium products, such as flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood, serving both residential and commercial clientele. In September 2023, Lamosaic ventured into manufacturing by inaugurating a cutting-edge facility in Chembur, Mumbai. This tactical decision has enabled the company to enhance its control over quality, expenses, and customer satisfaction by offering customized products that meet various market demands.

As per the red herring prospectus (RHP), the company’s listed peers are ArchidPly Industries Ltd (with a P/E of 33.80), Sylvan Plyboard (India) Ltd (with a P/E of 20.79), and Duroply Industries Ltd (with a P/E of 223.20). Meanwhile, Lamosaic has a P/E of 13.52.

Lamosaic India experienced revenue growth of 75.25% year-on-year (YoY), while profit after tax (PAT) saw an increase of 102.13% YoY for the financial year ended March 31, 2024.

Lamosaic India IPO details

Lamosaic India IPO consists of a fresh issue of 3,060,000 equity shares, aggregating to ₹61.20 crore. There’s no offer for sale (OFS) component.

The company intends to use the net proceeds from the issuance for the following purposes: Repayment of specific borrowings; addressing additional working capital needs; pursuing growth through acquisitions; and for general corporate expenses.

Inventure Merchant Banker Services Pvt Ltd serves as the lead manager for the Lamosaic India IPO, and Kfin Technologies Ltd acts as the issue registrar. Svcm Securities is designated as the market maker for the Lamosaic India IPO.

Lamosaic India IPO GMP today

Lamosaic India IPO GMP or grey market premium was ₹0 today, which meant shares were trading at their issue price of ₹200 with no premium or discount in the grey market according to investorgain.com

Prior to the opening of subscriptions, the company’s shares in the grey market are being traded at par with the issue price.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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