Lamosaic India Limited’s shares were listed at a discount of 18 per cent from the IPO price on Friday, November 29, marking a weak debut on the NSE SME platform, Emerge.
Shares of Lamosaic India began trading on the NSE Emerge at Rs 164 each, 18 per cent less than the issue price of Rs 200 each. When the stock was listed, it jumped 5 per cent and was locked at Rs 172.2 per share, the upper circuit limit.
Within the first ten minutes of the stock’s launch, up to 9.91 lakh shares of the company were traded on the NSE. The total amount traded was Rs 16.27 crore.
Listing gain/ loss
After Lamosaic India’s stock began trading on the exchange, the investors, who were given at least one lot comprising of 600 shares, would lost Rs 21,600 (Rs 36 x 600), per lot compared to issue price of 1,20,000 (Rs 200 x 600).
Stock performance
The lamosaic shares were locked in 5 per cent upper circuit hitting day high level of Rs 172.00 per share on NSE (National Stock Exchange), after listing with 18 per cent discount at Rs 164.00 per share compared to issue price of Rs 200 per share.
Lamosaic India IPO details
IPO size, price band and minimum bid
The IPO size of Lamosaic India was Rs 61.2 crore. 30.6 lakh new shares were issued as part of the book-built issue. Rs 200 per share was the fixed issue price.
For retail investors, the minimum lot size required to apply for the Lamosaic India IPO was one lot of 600 shares, amounting to Rs 1,20,000 in total investment.
Subscription across all categories
The three-day subscription period for the Lamosaic India IPO, which began on November 21 and ended on November 26, saw 1.82 bookings. Over 52.9 lakh shares from various investor categories were bid on in the SME issue, as opposed to the 29.07 lakh shares that were made available for subscription.
In the Lamosaic India IPO, 98 per cent of the non-institutional investors’ (NIIs’) quota was booked. The quota for retail investors was booked 2.65 times. Bids were made by Qualified Institutional Buyers (QIBs) for 1,200 shares of Lamosaic India Limited.
Use of IPO proceedings
The company plans to use the money raised via the public issue for repayment of borrowings, for meeting working capital requirements, pursuing inorganic growth and for general corporate purposes.
