Lamosaic India Ltd, a favorite choice among architects, interior designers, and homeowners, is gaining attention with its upcoming IPO. The company is involved in the marketing and sale of decorative laminates, plywood, and wooden furniture accessories. Additionally, it provides a comprehensive one-stop solution for customized design and supply of laminated doors, furniture, and more.

The IPO is a fixed price issue amounting to ₹61.2 crores, with a share price of ₹200 per equity share. The subscription period began on November 21, 2024, and will close on November 26, 2024. The allotment will be finalized by November 27, 2024, with the shares being listed on the NSE SME platform on November 29, 2024.

The Current active IPO is Rajesh Power Services, C2C Advanced System, Enviro Infra Engineers and Lomosaic India.

IPO Details and Financials

Lamosaic India’s market capitalization at the IPO price of ₹200 per share is ₹206.76 crores. The lot size is 600 shares, and retail investors must invest a minimum of ₹1,20,000. High-Net-Worth Individuals (HNIs) need to invest ₹2,40,000 (2 lots).

The Grey Market Premium (GMP) of the IPO is currently reported at ₹0, signaling a lack of strong demand in the unorganized market. It’s important to note that GMP is not a reliable metric for pricing and is solely for informational purposes.

Financial Overview

In terms of financials, Lamosaic India has shown strong growth in recent years:

• Revenue from operations for FY2024 stood at ₹5,565.72 lakhs, with a profit after tax (PAT) of ₹822.94 lakhs.
• For FY2023, the revenue was ₹3,175.85 lakhs, with a PAT of ₹407.14 lakhs, while in FY2022, revenue was ₹1,003.45 lakhs, with a PAT of ₹50.89 lakhs.

The pre-issue earnings per share (EPS) is ₹11.31, with a post-issue EPS of ₹7.96. The Price-to-Earnings (P/E) ratio is 17.68x before the issue, and 25.12x post-issue, against an industry average P/E of 121.99x. The company’s Return on Capital Employed (ROCE) stands at 42.25%, and Return on Equity (RoE) is 53.94% for FY24, suggesting that while the IPO is fully priced, it offers strong financial metrics.

The Upcoming IPOs in this week and coming weeks are Rajputana Biodiesel, Apex Ecotech, Abha Power and Steel, Agarwal Toughened, Ganesh Infraworld, Rosmerta Digital, Avanse Financial and Nisus Finance.

IPO Use of Proceeds

The funds raised from the IPO will be allocated as follows:

1. ₹445.77 Lakhs for repayment of borrowings.
2. ₹3500.00 Lakhs for incremental working capital needs.
3. ₹600.00 Lakhs for pursuing inorganic growth.
4. ₹1400.00 Lakhs for general corporate purposes.

IPO Allotment Process

Investors can check their Lamosaic India IPO allotment status online starting from November 27, 2024. To do so, visit the registrar's website, select Lamosaic India Limited IPO, and enter the required details such as application number, PAN, or DP Client ID.

Recommendation

Given the lack of Grey Market Premium and the fully priced valuation based on the company's financials, we recommend investors to avoid this IPO for listing gains or long-term investment purposes.

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