Lamosaic India has decided to launch its fixed-price public issue for subscription on November 21. This would be the second IPO in the SME segment opening next week, before C2C Advanced Systems’ initial share sale.
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The company targets to raise Rs 61.2 crore through its initial public offering of 30.6 lakh equity shares at Rs 200 per share.
The IPO, which consists of entirely fresh issues by the company, will close on November 26, while the trading in its equity shares will commence on the NSE Emerge effective November 29.
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The Mumbai-based company trades in products like flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood. In September 2023, it started manufacturing activities by setting up a workshop in Mumbai. It sells products to B2B customers under the brand name – Lamosaic.
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Lamosaic India will utilise Rs 59.5 crore out of the net fresh issue proceeds for repaying debt, incremental working capital requirements, inorganic growth, and general corporate purposes.
The book-running lead manager appointed to handle the issue is Inventure Merchant Banker Services.
