Mach Conferences and Events share price lists with strong 33.33% premium at ₹300 on the BSE SME. Slips 5% thereafter

Mach Conferences and Events share price lists with strong 33.33% premium on the BSE SME on Wednesday.

The Mach Conferences and Events share price thereafter corrected 5% to ₹285 thereafter.

The price band for Mach Conferences and Events IPO stood at at ₹214-225 per share. The issue opened for bidding by investors on 4th of September 2024 and closed on 6th of September 2024.

The subscription responses received by Mach Conferences and Event IPO and Grey market premiums had been indicating for strong listing gains by Mach Conferences and Event share price.

The Mach Conferences and Events IPO had been subscribed 196.70 times by September 6, 2024 (Day 3), It had ben subscribed 136.49 times in the retail category, 146.66 subscribers in the QIB category, and 403.69 times subscribed in the NII category.

According to investorgain.com, the grey market premium, or Mach Conferences and Events IPO GMP, was +145. This indicated that Kross shares were being sold on the Grey market at a premium of ₹145.

The estimated listing price of Mach Conferences and Event shares was ₹370 per share, which represents a 64.44% premium over the ₹225 IPO price, given the upper end of the IPO pricing range and the current premium in the secondary market.

Established in 2004, Mach Conferences and Events Limited provides a wide array of tailored services to the MICE (Meetings, Incentives, Conferences, Exhibitions) and events industry.

The Mach Conferences and Events IPO was a book built issue worth ₹125.28 crores. The issue comprised of fresh issue of 22.29 lakh shares aggregating to ₹50.15 crores and also had an offer for sale component with 33.39 lakh shares aggregating to ₹75.13 crores being part of offer for sale.

The Mach Conferences & Events IPO's book running lead manager was Beeline Capital Advisors Pvt Ltd, while the registrar is Skyline Financial Services Private Ltd.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.