Fixed Price IPO | ₹25 Cr | Listed at NSE SME | Tue, Sep 4, 2018 - Fri, Sep 7, 2018
Lagnam Spintex IPO is a fixed price issue of ₹24.60 crores. The issue is entirely a fresh issue of 0.60 crore shares of ₹24.60 crore.
Lagnam Spintex IPO bidding started from Sep 4, 2018 and ended on Sep 7, 2018. The shares got listed on NSE SME on Sep 18, 2018.
Lagnam Spintex IPO price is ₹41 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,23,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,46,000.
BOI Merchant Bankers Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Maverick Share Brokers Pvt.Ltd..
Refer to Lagnam Spintex IPO RHP for detailed Information.
IPO Open
Tue, Sep 4, 2018
IPO Close
Fri, Sep 7, 2018
Issue Price
₹41 per share
Market Cap (Pre-IPO)
₹72.44 Cr
| IPO Date | 4 to 7 Sep, 2018 |
| Listed on | Tue, Sep 18, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹41 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 3,00,000 shares Maverick Share Brokers Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 57,00,000 shares (agg. up to ₹23 Cr) |
| Net Offered to Public | 57,00,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 1,16,69,000 shares |
| Share Holding Post Issue | 1,76,69,000 shares |
| NSE Symbol | LAGNAM |
| ISIN | INE548Z01017 |
Lagnam Spintex IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,50,000 (50.00%) allocated to NII 28,50,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 28,50,000 | 50.00% | 47.50% |
| Retail Shares Offered | 28,50,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,00,000 | 5.00% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,23,000 |
| Retail (Max) | 1 | 3,000 | ₹1,23,000 |
| HNI (Min) | 2 | 6,000 | ₹2,46,000 |
Incorporated in 2010, Rajasthan based Lagnam Spintex Limited is a company engaged in the business of manufacturing of high-quality yarn (Ne 4 to Ne 20). The yarn is used in Denim, Terry Towels, Bottom Wears, Home Textiles and Industrial Fabrics etc.
The manufacturing facility of the Company is situated at Bhilwara District in Rajasthan State. Spread over 10,000 square meters, the facility has the capacity to produce 16.5 tonnes of high-quality yarn per day.
Lagnam Spintex is currently exporting its products to countries like Germany, Belgium, Portugal, Italy, Columbia, South Africa, Slovenia, China, Pakistan, Bangladesh, and others. Exports account for 18.90% of the manufacturing sales of the company.
In the past five years, the company's revenues have increased from INR4,983.41 lakhs in 2014-15 to INR 8,454.47 lakhs in 2017-18 at a CAGR of around 19%. The Net Profit after tax has grown at a CAGR of almost 43% in the last three years.
The company has 79 permanent employees on its payroll.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part finance the setting up of additional cotton yarn manufacturing facility (as under); | 22.00 |
| Total | 22.00 |
The Lagnam Spintex IPO is subscribed 4.97 times on September 7, 2018 6:00:00 PM (Day 4). The public issue subscribed 5.65 times in the retail category, [.] times in the QIB category, and 3.86 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.86 | 28,50,000 | 1,10,01,000 |
| Retail | 5.65 | 28,50,000 | 1,60,89,000 |
| Total | 4.97 | 57,00,000 | 2,83,08,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Bankers including expenses towards printing, advertising and payment to other intermediaries such as Registrars, Brokers, SCSB’s, RTA, CDP etc and other regulatory fees | 0.63 |
| 2 | Selling and Marketing expenses | 1.97 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹41.00 |
| Open | ₹41.00 |
| Low | ₹38.95 |
| High | ₹41.00 |
| Last Trade | ₹38.95 |
Lead Manager Reports
Lagnam Spintex IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹25 Crores. The issue is priced at ₹41 per share. The minimum order quantity is 3000.
The IPO opens on Tue, Sep 4, 2018, and closes on Fri, Sep 7, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Lagnam Spintex IPO using UPI as a payment gateway. Zerodha customers can apply in Lagnam Spintex IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Lagnam Spintex IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Lagnam Spintex IPO opens on Tue, Sep 4, 2018 and closes on Fri, Sep 7, 2018.
Lagnam Spintex IPO lot size is 3000, and the minimum amount required for application is ₹1,23,000.
You can apply in Lagnam Spintex IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Lagnam Spintex IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Lagnam Spintex IPO allotment status.
The Lagnam Spintex IPO listing date is on Tue, Sep 18, 2018.
