Mach Conferences and Events IPO: Issue booked over 196 times on the final day; check allotment and listing date

Mach Conferences and Events Limited IPO closed with a huge demand on Friday, September 6, the public offer was booked over 196 times on the last day.

The BSE SME issue received bids for over 72.6 crore shares against 36.9 lakh shares offered for subscription, leading to the issue being oversubscribed 196.78 times.

The Non-Institutional Investors (NIIs) portion was booked 404 times with bids for over 31.97 crore shares compared to the 7.91 lakh shares reserved for the category.

The Mach Conferences and Events IPO was booked 136.49 times in the retail category as retail investors placed bids for 25.18 crore shares against the 18.45 lakh shares set aside for the category.

Qualified Institutional Buyers (QIBs) placed bids for 15.45 crore shares against 10.53 lakh shares set aside for the category. The QIBs portion was booked 146.66 times.

Mach Conferences and Events IPO issue size

Mach Conferences and Events IPO is worth ₹125.28 crore. The book-built issue consisted of a fresh issue of 22.29 lakh shares aimed at raising ₹50.15 crore along with an offer-for-sale (OFS) portion of 33.39 lakh shares aggregating to ₹75.13 crore.

Mach Conferences and Events IPO price band was fixed at ₹214 to ₹225 per share. The minimum lot size for applying for the IPO was 600 shares, which aggregated to an investment of ₹1,35,000.

Mach Conferences and Events IPO share allotment status and listing date

Mach Conferences and Events IPO was open for subscription from September 4 to September 6. Mach Conferences and Events IPO share allotment status is expected to be finalised on Monday, September 9.

Refunds will be initiated for unsuccessful bidders on Tuesday, September 10 and shares of Mach Conferences and Events will be credited into the Demat accounts of successful bidders on the same day.

The IPO listing date has been tentatively fixed as September 11. Shares of Mach Conferences and Events Limited will be listed on the BSE SME platform.

Mach Conferences and Events IPO: Objective

The company plans to use the money raised via the public issue to meet its working capital requirements and for other general corporate purposes.

About Mach Conferences and Events

Mach Conferences and Events Limited offers customised services for the Meetings, Incentives, Conferences, Exhibitions (MICE) and events sector. The company has co-working spaces in more than 18 states and Union Territories. The company had a total of 55 employees as of March 31, 2024.