Mach Conferences and Events Limited IPO Opens On 04th September, 2024
Total Issue Size – 55,68,000 Equity Shares of ₹ 10 each
Fresh Issue - 22,29,000 Equity Shares
Offer For Sale - 33,39,000 Equity Shares
Issue Size – ₹ 125.28 Crores (At Upper Band)
Price Band – ₹ 214 - ₹ 225 Per Share
Lot Size – 600 Equity Shares
Mumbai, August 29th, 2024 – Mach Conferences and Events Limited specializes in providing end-to-end event management solutions within the MICE industry, proposes to open its Initial Public Offering (IPO) on September 04th, 2024. The company is aiming to raise ₹ 125.28 Crores at the upper band through this IPO, with shares set to be listed on the BSE SME platform.
The Issue Size is 55,68,000 including 22,29,000 Fresh Issue equity shares and 33,39,000 Offer For Sale at face value of ₹ 10 each.
Equity Share Allocation
QIB (including Anchor Portion) – Not more than 26,31,600 Equity Shares
High-Net-Worth Individual (HNI) – Not less than 7,91,400 Equity Shares
Retail Individual Investors (RII) – Not less than 18,45,000 Equity Shares
Market Maker – 3,00,000 Equity Shares
The net proceeds from the IPO will be utilized to meet Working Capital requirements, and General Corporate Purposes. The bidding for Anchor Portion will open on September 03th, 2024, the Issue will open for subscription for all other categories from September 04th, 2024 and closes on September 06th, 2024.
The Book Running Lead Manager to the Offer is Beeline Capital Advisors Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.
Given the working capital-intensive nature of our industry, the IPO proceeds will be instrumental in meeting our Working Capital needs, enabling us to bid for larger, high-value events. This will elevate our brand recognition and value, ultimately strengthening our operations and ensuring the long-term sustainability of our company.”
Comments
Post a Comment