Macobs Technologies shares list at 28% premium to IPO price; check key details

Macobs Technologies Ltd made a strong debut on the NSE SME platform, Emerge, on Wednesday, July 24, as its shares were listed at a premium of 28% against the issue price of ₹75 apiece.

The stock opened at ₹96 apiece, with an upside of 28% compared to the issue price of ₹75. After listing, the stock surged as much as 5% to hit an intraday high of ₹100.8 per share. At the intraday high, the stock has gained over 34% from the IPO price.

Within the first 15 minutes of trade, nearly 11 lakh shares of the company changed hands on the NSE. The company's market valuation stood at ₹98.74 crore.

The minimum lot size to apply for the public issue was fixed at 1,600 shares after listing successful bidders who were allotted shares in the issue would have earned a profit of at least ₹33,600 (₹21 x 1,600).

Macobs Technologies Ltd IPO details

The subscription window for Macobs Technologies' IPO was open from July 16 to July 19. On July 22, before the company listed its shares on the NSE SME issue, it allotted shares to successful bidders.

The NSE SME issue saw decent subscription as it was booked 202.38 times across all categories, receiving 40.89 crore bids against the 20.2 lakh shares offered for subscription.

The issue was booked 176.87 times in the retail category. In the Non-Institutional Investors (NIIs) category, the issue was subscribed 266.84 times and in the Qualified Institutional Buyers (QIBs) booked their segment 88.91 times.

Macobs Technologies IPO was valued at ₹19.46 crore. The book-built issue consisted of an entirely fresh issue of 25.95 lakh shares.

The price band for Macobs Technologies' IPO was fixed at ₹71 to ₹75 per share. The minimum lot size for retail investors to apply for the NSE SME issue was 1600 shares, which aggregates to an investment of ₹1,20,000.

Macobs Technologies Ltd plans to use the money raised via the public issue to acquire customers by increasing marketing and awareness. The funds will also be used to prepay or repay a portion of the company’s outstanding borrowings, fund working capital requirements, and fund other general corporate purposes.

Macobs Technologies Limited, founded in 2019, offers products for male grooming. The company does not have physical stores or a traditional retail presence. The company has 15 full-time employees.