Lamosaic India IPO shares to debut today. Here's what GMP signals
NSE SME platform on Friday. Ahead of the listing, the company's shares were trading and had no GMP in the grey market. This implies a flat to negative premium on debut.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Lamosaic India received muted response from investors with a subscription of just 1.77 times.
The net proceeds from the public offer will be used for repayment of debt, incremental working capital, pursuing inorganic growth and general corporate purposes.
The company sells its products primarily to the real estate and infrastructure industry for commercial and residential usage, construction industry, interior decor, furniture, plywood industry etc.
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