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Business News/ Markets / Stock Markets/  Macfos IPO: Latest GMP as all eyes on shares listing this week after allotment

Macfos IPO: Latest GMP as all eyes on shares listing this week after allotment

Macfos IPO was oversubscribed 193.87 times by the last date of the SME public issue

Photo: iStockPremium
Photo: iStock

The three-day long initial public offering (IPO) of Macfos Ltd witnessed strong demand from retail investors and NIIs during its open period of Friday, February, 17, 2023 till Tuesday, February 21, 2023. The finalisation of the basis of the share allotment has been announced and now all eyes are on the company's shares listing which is scheduled for this week.

As per market observers, Macfos shares are commanding a premium (GMP) of 84 in the grey market today. The shares of the company are expected to list on BSE SME on March 1, 2023. The SME platform of the exchanges is intended for small and medium sized companies.

The price band of the issue had been fixed at 96 to 102 per share. The IPO aimed to raise about 23.7 crore with an NII quota of 15%, QIB of 50%, and a retail quota of 35%. The Issue was Lead Managed by Hem Securities Ltd. The Macfos IPO was oversubscribed 193.87 times with 268.45x bid seen in the retail category, 21.60 times in the qualified institutional buyers category, and 659.99 times in the non-institutional investors category.

Macfos IPO is an SME issue, comprising of 2,328,000 equity shares of the face value of 10 aggregating up to 24 crore. The Offer comprises an Offer for Sale (OFS) by the Selling Shareholders. Atul Maruti Dumbre, Binod Prasad and Nileshkumar Purshottam Chavhan are the promoters of the company.

Macfos Limited is an e-commerce based Company marketing a broad range of 12000+electronic components through it’s website & mobile application The company’s Products are used in basic and advanced engineering products & projects, including emerging technologies such as IoT, Robotics, Automations, Drone, Electric Vehicles, 3D Printing and Auto Guided Vehicles.

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Published: 27 Feb 2023, 10:43 AM IST
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