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2 min read | Updated on July 18, 2024, 15:32 IST
SUMMARY
Macobs Technologies' IPO, with a price band of ₹71-₹75 per equity share, is live from July 16 to July 19. The ₹19.46 crore initial share sale involves a fresh issuance of 25.95 lakh equity shares.
Macobs Technologies manufactures male grooming products
Macobs Technologies IPO has received a decent response from investors. On the second day of subscription, the initial public offering received over 7% subscription for 1.47 crore shares as against 20.20 lakh shares on offer.
On Day 2, the issue has been subscribed 7.31 times. The retail portion was subscribed the most, receiving 13.30 times subscription with bids for 1.14 crore shares against 8.62 lakh shares on offer.
The non-institutional investors (NIIs) category was subscribed 2.78 times. It received bids for 23.95 lakh shares against 8.62 lakh shares on offer.
The part reserved for qualified institutional buyers (QIBs) was subscribed 3.06 times, receiving bids for 9.07 lakh shares against 2.96 lakh shares on offer.
Macobs Technologies' IPO, with a price band of ₹71-₹75 per equity share, is live from July 16 to July 19. The ₹19.46 crore initial share sale involves a fresh issuance of 25.95 lakh equity shares.
Investors can bid for a minimum of 1,600 shares or one lot valued at ₹1.20 lakh. The company has set aside 30% of the issue for QIBs, 35% for retail investors and 35% for NIIs.
The net IPO proceeds will be used to meet working capital requirements, acquire customers, repay borrowings, and for general corporate purposes.
The allotment of shares is likely to be finalised on July 22, while the listing on Emerge, NSE's SME platform, is expected to occur on July 24.
SKI Capital Services Ltd is the sole book-running lead manager for the issue, while Maashilta Securities Pvt Ltd is the registrar.
Macobs Technologies, founded in 2019, manufactures male grooming products like specialised trimmers, hygiene products and self-care items. The company sells its products through the e-commerce platform Menhood.
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