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Lamosaic India Slips 18% on NSE SME Debut, Lists at ₹164 Amid Muted Market Sentiment

Lamosaic India listed at ₹164 on the NSE SME exchange, 18% below its ₹200 issue price, indicating a subdued market response on its debut trading day.
Lamosaic India Slips 18% on NSE SME Debut, Lists at ₹164 Amid Muted Market Sentiment
Lamosaic India Slips 18% on NSE SME Debut, Lists at ₹164 Amid Muted Market Sentiment

Lamosaic India had a muted debut on the NSE SME exchange on November 29, listing at ₹164, an 18% discount to its issue price of ₹200. The stock’s performance reflected a subdued market reception on its first day of trading.

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Lamosaic India Ltd IPO experienced an increase in investor interest on Day 4 of its IPO, with the issue being subscribed 1.73 times. This demonstrates growing confidence among investors, reflecting a positive reception to the company’s market potential as the subscription period progresses.

Also Read: Adani group stocks jump up to 19%; Here’s why

Lamosaic India Limited, previously known as Swastik Marketing, became a public limited company in June 2023. It specializes in construction materials, offering customized laminates, acrylic sheets, and decorative flush doors. Operating mainly in Maharashtra, Lamosaic markets its products directly and through a Mumbai franchise, serving the real estate, infrastructure, and interior decor sectors under the “Lamosaic” brand.

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Also Read: Abha Power and Steel Ltd IPO Oversubscribed 3.77x on Day 2 – Discover the Key Insights!

Lamosaic India plans to use IPO proceeds for debt repayment (₹4.31 crores), working capital (₹35 crores), strategic acquisitions (₹6 crores), and general corporate purposes (₹14.14 crores) to fuel growth and expansion.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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