Lamosaic India Limited, a prominent name in the decorative laminates and plywood sector, has opened its IPO for subscription starting November 21, 2024, and will close on November 26, 2024. Here’s everything you need to know about this fixed-price issue.

IPO Highlights

1. Issue Details:

   • Type of Issue: Fixed Price Issue
   • IPO Size: ₹61.2 crore, entirely a fresh issue of 30.6 lakh shares
   • Price: ₹200 per equity share
   • Market Cap at IPO Price: ₹206.76 crore
   • Lot Size: 600 shares
   • Minimum Investment:
     • Retail Investors: ₹1,20,000
     • High-Net-Worth Individuals (HNIs): ₹2,40,000

2. Important Dates:

   • Subscription Period: November 21-26, 2024
   • Allotment Date: November 27, 2024
   • Listing Date: November 29, 2024 (on NSE SME)

3. Lead Manager & Registrar:

   • Book-Running Lead Manager: Inventure Merchant Banker Services Private Limited
   • Registrar: KFin Technologies Limited
   • Market Maker: SVCM Securities Private Limited

Company Overview

Lamosaic India Limited is a trusted brand among architects, interior designers, and homeowners. The company specializes in marketing decorative laminates, plywood, and furniture accessories. It provides a one-stop solution, from concept creation to designing and supplying custom-made laminated doors and furniture to meet customer-specific needs.

Promoters:

• Mr. Vinod Juthala Visaria
• Mr. Jay Manilal Chheda
• Mr. Jitesh Khushalchand Mamaniya

Financial Performance

The company has shown consistent growth over the years:

1. Revenue from Operations:

   • FY24: ₹5,565.72 lakh
   • FY23: ₹3,175.85 lakh
   • FY22: ₹1,003.45 lakh

2. EBITDA:

   • FY24: ₹1,417.20 lakh
   • FY23: ₹700.01 lakh
   • FY22: ₹95.96 lakh

3. Profit After Tax (PAT):

   • FY24: ₹822.94 lakh
   • FY23: ₹407.14 lakh
   • FY22: ₹50.89 lakh

4. Key Ratios:

   • Pre-Issue EPS: ₹11.31
   • Post-Issue EPS: ₹7.96
   • ROCE: 42.25% (FY24)
   • ROE: 53.94% (FY24)

Despite strong returns, the valuation appears steep with a post-issue P/E ratio of 25.12x, higher than industry peers.

IPO Objectives

Proceeds from the IPO will be allocated as follows:

1. ₹445.77 lakh for repayment of certain borrowings
2. ₹3,500.00 lakh for incremental working capital requirements
3. ₹600.00 lakh for inorganic growth
4. ₹1,400.00 lakh for general corporate purposes

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for the IPO is currently ₹0, reflecting lukewarm demand. However, GMP trends can change based on investor sentiment closer to the listing date.

Live Subscription Status

As of 11:00 AM on November 21, 2024, the IPO is subscribed 0.03 times on its opening day.

Investment Review

The Lamosaic India IPO is priced fully, with valuation metrics suggesting cautious optimism:

• The absence of significant GMP reduces the likelihood of immediate listing gains.
• While the company shows strong financial growth, its current valuation may deter long-term investors.

Given these factors, potential investors should evaluate the company’s business model and financial projections before committing.

Recommendation: Avoid for both listing gains and long-term investment purposes.

The Upcoming IPOs in this week and coming weeks are C2C Advanced System, Enviro Infra, Rajesh Power Services, Rajputana Biodiesel, Rosmerta Digital, Avanse Financial and Nisus Finance.

The Current active IPO is NTPC Green Energy and Lomosaic India.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.