Mach Conferences and Events IPO allotment finalised today. Step-by-step guide to check status online

The IPO of Mach Conferences and Events saw strong demand, closing 196.70 times oversubscribed. Allotment results will be announced today, with shares to be credited to Demat accounts by September 10 and the listing scheduled for September 11, 2024.

Pranati Deva
Published9 Sep 2024, 12:28 PM IST
Mach Conferences and Events IPO allotment finalised today. How do you check the status? A step-by-step guide
Mach Conferences and Events IPO allotment finalised today. How do you check the status? A step-by-step guide

The initial public offering (IPO) of Mach Conferences and Events has been finalised today after overwhelming interest and robust subscriptions. 

The SME IPO, valued at 125.28 crore, opened for bidding on September 4 and closed on September 6. The price band was set at 214-225 per share.

Investors can check the Mach Conferences and Events IPO allotment status online through the official portal of the IPO registrar, Skyline Financial Services Private Ltd.

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The company will credit the equity shares on September 10 into the Demat accounts of investors who have received the allotment. Refunds for rejected applications will also be processed the same day. Mach Conferences and Events IPO is slated to list on BSE SME on Friday, September 11, 2024.

How to check IPO allotment status

Step 1: Go to the IPO registrar website of Skyline Financial Services Private Ltd.

Step 2: From the selection menu, choose Mach Conferences IPO.

Step 3: To discover the current status, pick a mode - click on the PAN, demat account, or application number.

Step 4: Choose “Application Type,” then “ASBA” or “non-ASBA.”

Step 5: Enter the required information, such as your application number, PAN (Permanent Account Number), or Demat Account number.

Step 6: Enter the ‘captcha’ to verify that you are not a robot.

Step 7: Click ‘submit’ to view allotment status. 

Also Read | Bajaj Housing Finance IPO: What will be the impact on Bajaj Finance?

About the IPO

The Mach Conferences and Events IPO comprised a fresh issue of 22.29 lakh shares aggregating to 50.15 crore and an offer for sale of 33.39 lakh shares aggregating to 75.13 crore. The minimum lot size for an application was 600 shares, and the minimum investment required by retail investors was 1.35 lakh.

The IPO closed with overwhelming demand, with the SME issue subscribed 196.70 times.

The IPO received bids for 72.58 crore shares against the 36.90 lakh shares on offer. Specifically, the subscription breakdown was notable across different segments: the retail investor segment saw a subscription of 136.49 times, and Non-Institutional Investors booked 403.69 times. The Qualified Institutional buyers segment saw a bidding of 146.66 times.

Also Read | SME IPO frenzy: The red flags that investors shouldn’t ignore

The company plans to allocate the net proceeds from the issue to meet the working capital requirements and other general corporate purposes.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Mach Conferences and Events IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Mach Conferences and Events IPO is Spread X Securities.

About the Company

Mach Conferences and Events Limited, established in 2004, offers a wide range of tailored services in the MICE (Meetings, Incentives, Conferences, Exhibitions) and events industry. The company specialises in managing conferences, exhibitions, and global event planning while handling all logistical aspects, including venue selection, accommodation, transportation, local activities, and on-site coordination at specific destinations. With a client base primarily in banking, finance, and insurance, Mach Conferences has also served industries such as hospitality, infrastructure, and FMCG.

Between the financial years ending March 31, 2023, and March 31, 2024, the company saw a 68 percent increase in revenue and a 197 percent rise in profit after tax (PAT).

Also Read | Bajaj Housing Finance IPO: 8 key things to know before subscribing to the issue

Mach Conferences and Events IPO GMP today

The IPO's grey market premium (GMP) today is 210 per share, indicating an expected listing price of 435, a premium of 93.33 percent from its issue price of 210. The GMP has been the same since the last 63 sessions, September 3, but jumped from 200 on September 5.

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First Published:9 Sep 2024, 12:28 PM IST
Business NewsMarketsIPOMach Conferences and Events IPO allotment finalised today. Step-by-step guide to check status online

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