Mach Conferences & Events SME IPO Skyrockets with 7X Subscription on Day 1: Retail Investors Lead the Charge – Check Latest GMP Now!

The initial public offering (IPO) of Mach Conferences and Events Ltd, an SME (Small and Medium-sized Enterprise), saw significant interest on its first day of bidding. The IPO, which began on Wednesday, September 4, 2024, and will close on Friday, September 6, 2024, was subscribed more than seven times on day one.

Mach Conferences and Events is offering 5,568,000 shares as part of the public issue. The company, which is based in Delhi, has reserved 18,45,000 equity shares, or 33.14% of the total offering, for retail investors. Additionally, 7,91,400 shares, which make up 14.21% of the offering, have been set aside for non-institutional investors (NIIs). A total of 10,53,600 shares, accounting for 18.92% of the IPO, are reserved for qualified institutional buyers (QIBs). In addition, 3,00,000 equity shares, representing 5.39% of the total, are allocated for the market makers.

Subscription Status

On the first day of bidding, the IPO was subscribed 7.63 times in total. The portion reserved for retail investors was the most popular, with a subscription rate of 9.88 times. The portion allocated for non-institutional investors (NIIs) was subscribed 7.85 times, while the portion reserved for qualified institutional buyers (QIBs) was subscribed 3.52 times. Altogether, the SME IPO received applications for 2,81,50,200 shares compared to the 36,90,000 shares on offer on Wednesday.