November 18, 2024
New Delhi, India
Upcoming IPO
Lamosaic India Limited, a prominent player in the decorative laminates and plywood sector, is set to launch its Initial Public Offering (IPO) on November 21, 2024. The IPO will remain open for subscription until November 26, 2024. With a fixed price band of ₹200 per share, the company aims to raise significant capital through this fresh issue, making it an attractive opportunity for investors. Here’s a detailed breakdown of the IPO.
Key Details of Lamosaic India IPO
- IPO Dates:
- Opening Date: November 21, 2024
- Closing Date: November 26, 2024
- Price Band:
- The price is set at ₹200 per equity share of face value ₹10.
- Lot Size and Minimum Investment:
- Investors need to bid for a minimum of 600 equity shares.
- Further bids can be made in multiples of 600 shares.
- Issue Structure:
- The IPO consists entirely of a fresh issue of 3,060,000 equity shares, amounting to ₹61.20 crore.
- There is no Offer for Sale (OFS) component in this IPO.
- Objectives of the IPO:
- Repayment of Specific Borrowings: Part of the proceeds will be used to repay existing debts, thereby improving the company’s balance sheet.
- Working Capital Needs: The funds will also cater to the additional working capital requirements, supporting the company’s growth and operations.
- Acquisitions and Expansion: The company aims to explore strategic acquisitions to strengthen its market presence.
- General Corporate Purposes: The remaining funds will be used for miscellaneous corporate activities and to enhance overall business efficiency.
- Lead Managers and Registrars:
- Inventure Merchant Banker Services Pvt Ltd is the lead manager for the IPO.
- Kfin Technologies Ltd acts as the registrar.
- Svcm Securities is appointed as the market maker.
Company Overview and Recent Developments
Lamosaic India Limited, established in January 2020, has swiftly gained traction in the competitive laminates and plywood market. The company’s product portfolio includes flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood, catering to a diverse clientele ranging from residential to commercial sectors.
In September 2023, the company expanded its manufacturing capabilities by launching a state-of-the-art facility in Chembur, Mumbai. This strategic move has enabled Lamosaic India to enhance its product quality, control costs effectively, and better meet customer needs through customizable offerings.
Financial Performance
Lamosaic India has demonstrated impressive financial growth:
- Revenue Growth: The company recorded a 75.25% increase in revenue for the financial year ending March 2024 compared to the previous year.
- Profit After Tax (PAT): PAT surged by 102.13% during the same period, showcasing strong profitability.
- Industry Comparison: The company’s Price-to-Earnings (P/E) ratio stands at 13.52, making it relatively undervalued compared to peers like:
- ArchidPly Industries Ltd (P/E of 33.80)
- Sylvan Plyboard (India) Ltd (P/E of 20.79)
- Duroply Industries Ltd (P/E of 223.20)
Investors interested in this sector can consider evaluating the company based on its financials, growth trajectory, and the broader market outlook before making their investment decisions.
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