Lamosaic India Limited is preparing for its initial public offering (IPO), looking to raise ₹61.20 crore by issuing 30.6 lakh shares at a fixed price of ₹200 each. The subscription window will open on November 21, 2024, and close on November 26, 2024.
Share allotments are expected to be finalized by November 27, 2024, and the shares will be credited to investors’ Demat accounts by November 28, 2024. The listing date is scheduled for November 29, 2024, on the NSE SME platform.
Investment Details
For retail investors, the minimum application involves 600 shares, equating to an investment of Rs 120,000. High Net-Worth Individuals (HNIs) are required to apply for a minimum of 1,200 shares, or two lots, amounting to Rs 240,000.
The IPO is being managed by Inventure Merchant Banker Services Pvt Ltd as the lead manager, with Kfin Technologies Limited serving as the registrar and Svcm Securities acting as the market maker.
Promoter Holding
Prior to the IPO, the promoter holds 100% of the shares in the company. After the IPO, their shareholding will reduce to 70.40%.
About Lamosaic India Limited
Lamosaic India, which was founded in January 2020, specializes in trading and manufacturing a variety of products, including flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood.
In September 2023, the company expanded its operations by opening a new 650 sq. ft. workshop in Chembur, Mumbai. Lamosaic offers custom design solutions for laminates and acrylic sheets, as well as the manufacturing of laminated and decorative flush doors based on customer orders. While most of the company’s operations are based in Maharashtra, it also has a distribution franchise in Mumbai.
IPO Objectives
The company plans to use the funds raised from the IPO for repaying borrowings, meeting working capital needs, pursuing inorganic growth opportunities, and general corporate purposes.
