Lamosaic India – Day 3: 0.99x Subscribed with 1.27x Retail Bids As of 3:05 PM

Lamosaic India IPO is open for subscription from November 21, 2024, and is attracting significant interest. Here’s an overview of the subscription status, financial details, key dates, and objectives.

Lamosaic India IPO Subscription Status

As of November 25, 2024, at 3:05 PM, the Lamosaic India IPO has been subscribed 0.99 times. The retail category showed the highest participation, with a subscription of 1.27 times. The non-institutional investors (NII) category recorded a subscription of 0.72 times. The market maker segment was fully subscribed at 1.00 times. By the end of Day 3, a total of 3,206 applications had been received for 28,86,600 shares, amounting to ₹57.73 crore.

On Day 1, the IPO was subscribed 0.22 times, with 0.36 times in the NII category and 0.09 times in the retail category. By Day 2, overall subscription improved to 0.59 times, with the NII category at 0.61 times and the retail category at 0.57 times. Day 3 saw significant momentum, especially from retail investors, leading to an overall subscription of 0.99 times.

Key Dates for the Lamosaic India IPO

The subscription period for the IPO runs from November 21 to November 26, 2024. The allotment of shares is expected to be finalised on November 27, 2024, with the company set to debut on the NSE (National Stock Exchange) SME platform on November 29, 2024.

IPO Size and Pricing

Lamosaic India IPO has an issue size of ₹61.20 crore, which includes the fresh issuance of 30.6 lakh shares priced at ₹200 each. Investors are required to apply for a minimum lot of 600 shares. Retail investors need a minimum investment of ₹1,20,000, while HNI investors must apply for at least 2 lots, equating to ₹240,000.

Purpose of the IPO

One of the primary objectives of the IPO is the repayment of borrowings. The company plans to reduce its existing debt, ensuring financial stability and minimising interest costs.

Another focus is meeting incremental working capital needs, with the funds used to support operational requirements and day-to-day business activities.

Lamosaic India also plans to pursue inorganic growth by utilising the funds for strategic acquisitions and partnerships to expand its reach and diversify its offerings.

Finally, a portion of the proceeds will be allocated to general corporate purposes to enhance overall operations and support future growth initiatives.

This IPO presents an opportunity for investors to support a company with a clear vision for financial and strategic growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.