Macobs Technologies IPO fully booked on day 1: Check subscription status and other details

Macobs Technologies IPO, which opened for subscription on Tuesday, July 16, was fully subscribed within hours of launch led by strong retail demand.

The initial public offering (IPO) of the male grooming products manufacturer received bids for over 57.5 lakh shares against 20.2 lakh shares on offer on the first day of bidding. As per the NSE data, the public issue was subscribed 2.67 times overall.

Retail investors showed strong enthusiasm as the segment saw the highest bidding among all categories with applications for over 24.54 shares compared to 8.62 lakh shares on offer. The retail portion was booked 2.84 times. The Non-Institutional Investors’ (NIIs) category subscribed nearly 72% with bids for over 5.32 lakh shares compared to 8.62 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIB) applied for 6.8 lakh shares against 2.96 lakh shares set aside for them. The QIBs’ portion was subscribed 2.29 times.

Macobs Technologies IPO price band, offer size and minimum investment

Macobs Technologies IPO is a book-building issue worth ₹19.46 crore. The NSE SME issue consists entirely of a fresh issue of 25.95 lakh shares of a face value of ₹10 each.

The total offer size includes an anchor allocation of 4,43,200 shares and a marker maker portion of 1,31,200 shares.

SKI Capital Services Limited is the lead manager and market maker for Macobs Technologies IPO book-running, while Maashitla Securities Private Limited is the public issue’s registrar.

The promoters of Macobs Technologies— Shivam Bhateja, Dushyant Gandotra and Divya Gandotra— collectively hold 65% stake in the company prior to the IPO.

Macobs Technologies IPO price band has been fixed at ₹71 to ₹75 per share.

The minimum lot size for retail investors is a single lot of 1,600 shares, aggregating to an investment of ₹1.2 lakh. High Net-Worth Individuals (HNIs) are required to apply for at least two lots, or 3,200 shares, amounting to an investment of ₹2.4 lakh.

Macobs Technologies IPO dates

Macobs Technologies IPO subscription is open from July 16 to July 19. The IPO allotment status is expected to be finalised on July 22. The company will initiate refunds for unsuccessful applicants and transfer of shares into the Demat accounts of successful bidders on July 23.

Macobs Technologies IPO listing date has been tentatively scheduled as July 24. Shares of the company will be listed on the NSE SME platform, Emerge.

Macobs Technologies IPO objective

Macobs Technologies plans to use the net proceeds from its IPO to increase customer acquisition through marketing campaigns. The company will use a portion of the IPO proceeds for prepaying or repaying a part of the outstanding borrowings. A part of the funds will also be used for capital requirements and general corporate purposes.

About Macobs Technologies Limited

Macobs Technologies Limited, founded in 2019, is engaged in manufacturing of male grooming products. Their offerings include trimmers, hygiene products tailored to male skin, briefs and a variety of self-care items. Unlike traditional retailers, Macobs Technologies operates solely online and its products are available only through the company website.