Macobs Technologies IPO Debut with 28% Premium at ₹96 Each on NSE SME

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 24th July 2024 - 10:57 pm

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Macobs Technologies IPO had a strong debut on the stock market on Wednesday. The shares were listed at ₹96 each on the NSE SME platform, representing a 28% premium over the issue price of ₹75 per share.

The listing exceeded street expectations, with the IPO's grey market premium (GMP) at around 19% today. Macobs Technologies' SME IPO opened for subscription on Tuesday, July 16, and closed on Friday, July 19. The IPO allotment was finalized on July 22, and the shares were listed today, July 24.

Macobs Technologies IPO price band was set at ₹71 to ₹75 per share. The company raised ₹19.46 crore through the book-built issue, which was an entirely fresh issue of 25.95 lakh equity shares.

The net proceeds from the issue are planned to be used for customer acquisition, prepayment or repayment of a portion of certain outstanding borrowings, working capital requirements, and general corporate purposes.

SKI Capital Services Limited served as the book-running lead manager for the Macobs Technologies IPO, while Maashitla Securities Private Limited was the IPO registrar.

The IPO saw robust demand during its bidding period, being subscribed 202.32 times in total. The public issue received bids for 40.88 crore equity shares compared to the 20.20 lakh shares on offer.

Specifically, the IPO was subscribed 176.87 times in the retail category, 88.92 times in the Qualified Institutional Buyers (QIB) category, and 266.70 times in the Non-Institutional Investors (NII) category.

To Summarize

Macobs Technologies shares were listed at ₹96 each on the NSE SME platform, marking a 28% premium over the issue price of ₹75 per share. The IPO price band was set at ₹71 to ₹75 per share. Through the book-built issue, which was an entirely fresh issue of 25.95 lakh equity shares, the company raised ₹19.46 crore.
 

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