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Last day to bid for Mach Conferences SME IPO; check details here
Source: Business Standard
Mach Conferences and Events SME IPO ends today: The initial public offering (IPO) of Mach Conferences and Events SME IPO continues to see positive investor support. The issue was oversubscribed 20.98 times on the second day of the offer. The retail section was booked 33.54 times, while the Non Institutional Investors (NII) segment was filled 16.12 times, and the Qualified Institutional Buyers (QIBs) section was oversubscribed by 4.05 times.
As per data from sources that track the grey market, shares of Mach Conferences and Events were commanding a grey market premium (GMP) of Rs 200, or 89 per cent, at the upper end of the IPO price of Rs 225. A positive GMP for an IPO usually indicates strong demand for the fresh issue and investor confidence, which in turn suggests that the IPO is likely to list at a higher price than its issue price.
The subscription window for initial public offer (IPO) of Mach Conferences and Events under the SME category will close today, September 6. The subscription window opened on September 4, 2024.
The IPO is a book-built issue of Rs 125.28 crore, comprising a combination of a fresh issue of 2.23 million shares aggregating to Rs 50.15 crore and an offer for sale of 3.34 million shares aggregating to Rs 75.13 crore.
Mach Conferences and Events IPO details:
Mach Conferences and Events IPO’s price band is set at Rs 225 per share. The allotment for the IPO is expected to happen on Monday, September 9, 2024. Mach Conferences and Events IPO will tentatively be listed on BSE SME on Wednesday, September 11, 2024.
The minimum lot size for an application is 600 shares. The minimum amount of investment required by retail investors is Rs 1,35,000, while the minimum lot size investment for a High Net Worth Individual or HNI is two lots (1,200 shares) amounting to Rs 2,70,000.
Beeline Capital Advisors is the book running lead manager of the Mach Conferences and Events IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Mach Conferences and Events IPO is Spread X Securities.
About Mach Conferences and Events
Founded in 2004, Mach Conferences and Events offers a range of customised services for the MICE (Meetings, Incentives, Conferences, Exhibitions) and events sector.
The company specialises in conference management, exhibition management, and global event planning. The company also takes care of all logistical aspects of events at specific destinations. This includes venue selection, accommodation, transportation logistics, local activities, and on-site coordination.
First Published: Sep 06 2024 | 9:55 AM IST
