Macobs Technologies, a men’s grooming brand, has opened its initial public offering (IPO) for subscription on July 16. On the first day, the IPO was subscribed over 2.91 times.
About Macobs Technologies
Macobs Technologies Limited is a premium brand specializing in male grooming, particularly below-the-belt care. They offer a wide range of products through their online platform, including advanced trimmers for sensitive areas, male-specific skincare, and various self-care essentials.
“We are excited to announce our IPO. This milestone reflects our commitment to revolutionizing the male grooming industry with innovative, high-quality products. The funds from this IPO will help us enhance our e-commerce platform, speed up product development, and expand our customer base. Our vision is to provide superior grooming solutions that boost confidence and well-being,” said Dushyant Gandotra, Managing Director of Macobs Technologies Limited.
IPO Subscription Status
The SME IPO was subscribed over 2.91 times on its first day. There were 58,88,000 share applications against the offered 20,20,800 shares on July 16, 2024. The retail category was subscribed 4.31 times, the QIB category 3.06 times, and the NII category 1.47 times.
IPO Details
Macobs Technologies aims to raise ₹19.46 crores at the upper price band through this IPO. Shares will be listed on the NSE Emerge platform. The IPO size is up to 25,95,200 equity shares with a face value of ₹10 each. The funds will be used for working capital, repaying some borrowings, and general corporate purposes. The bidding for the anchor portion started on July 15, 2024, and the issue will be open for all categories from July 16, 2024, to July 19, 2024.
The Book Running Lead Manager for the IPO is SKI Capital Services Limited, and the Registrar is Maashitla Securities Private Limited.
Macobs Technologies IPO Grey Market Premium (GMP) Today
The shares of Macobs Technologies are trading at a premium of ₹15 in the grey market, according to investorgain.com. This suggests that the estimated listing price of the IPO could be ₹90, which is 20% higher than the IPO price of ₹75. The grey market premium indicates that investors are willing to pay more than the issue price.
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