July 24, 2024
New Delhi, India
Macobs Technologies made an impressive stock market debut on Wednesday with its shares listed at ₹96 apiece on NSE SME, a 28% premium over the issue price of ₹75 per share. This listing exceeded market expectations, as the grey market premium (GMP) for Macobs Technologies IPO was around 19% today.
IPO Details: The Macobs Technologies IPO opened for subscription on Tuesday, July 16, and closed on Friday, July 19. The IPO allotment was finalized on July 22, and the shares were listed today, July 24, on NSE SME. The price band for the IPO was set at ₹71 to ₹75 per share. The company raised ₹19.46 crore from the fresh issue of 25.95 lakh equity shares.
Utilization of Funds: The proceeds from the IPO will be used for customer acquisition, prepayment or repayment of certain outstanding borrowings, working capital requirements, and general corporate purposes.
IPO Performance: The IPO received an overwhelming response, with a total subscription of 202.32 times. The public issue attracted bids for 40.88 crore equity shares against the 20.20 lakh shares on offer. In the retail category, the IPO was subscribed 176.87 times, 88.92 times in the Qualified Institutional Buyers (QIB) category, and 266.70 times in the Non-Institutional Investors (NII) category.
Key Players: SKI Capital Services Limited acted as the book running lead manager for the Macobs Technologies IPO, while Maashitla Securities Private Limited was the IPO registrar.
Macobs Technologies’ strong market debut highlights the robust demand and positive market sentiment towards the company’s growth prospects. Investors will be keenly watching the company’s future performance and utilization of IPO proceeds.
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