The initial public offering (IPO) of Macfos Limited was oversubscribed on the last day on Tuesday, February 21. The price band of the IPO was fixed at Rs 96 to Rs 102 per share, with a face value of Rs 10.
The SME IPO was subscribed 270.58 times on the last day. While the non-institutional investors’ portion was subscribed 488.82 times, the Qualified Institutional Buyers (QIBs) received bids of 53.70 times. Retail investors’ portion was oversubscribed 268.45 times.
The Public Issue comprises of 2,328,000 Equity Shares. According to a circular uploaded on the BSE website, the company aims to raise Rs 23.74 crore.
Hem Securities is the book-running lead manager to the issue, while BigShare Services Private Limited is the registrar.
The IPO allotment will be finalized on February 24. The shares will be credited to the demat account of the successful bidders on February 28. The issue will be listed on BSE SME platform on March 1.
Macfos Limited is an e-commerce company. It markets a wide range of over 12,000 electronic components through its website and mobile application Robu.in. This facilitates faster product R&D and prototyping cycles.