Macfos IPO oversubscribed on the first day led by retail investors. GMP Check

According to BSE data, as of 12:15 pm on day one, the issue was oversubscribed 1.49 times due to demand from retail category investors.

“Grey Market Premium (GMP) was seen in Macfos Limited 78 in the gray market today according to market sources. IPO is the output band value of 96 – 102. Given the upper band price, the listing price may be 180. One can expect listing profit of up to 76%. The company relies on third-party supplies and does not have any manufacturing facilities of its own, so even though the company has performed well over the past 18 months, sustaining these developments in the future could be a concern in the long term. Given the positive GMP, can apply for listing benefits,” said Manish Khanna, co-founder, Unlisted Assets.

macfos ipo One SME Issue consisting of 2,328,000 Equity Shares of face value 10 overall 24 crores. The Offer comprises an Offer for Sale (OFS) by the Selling Shareholders.

The company has said in its offer documents that the selling shareholders will receive the entire proceeds from the OFS and the company will not receive any share of the issue proceeds. The shares of the company are expected to get listed on BSE SME on March 1, 2023. BigShare Services Private Limited is the Registrar to the Issue.

Macfos Limited is an e-commerce based company marketing a wide range of 12000+ electronic components through its website and mobile application Robu.in. The company’s products are used in basic and advanced engineering products and projects, including emerging technologies such as IoT, robotics, automation, drones, electric vehicles, 3D printing and auto-guided vehicles. Atul Maruti Dambre, Binod Prasad and Nileshkumar Purushottam Chavan are the promoters of the company.