Macfos Limited IPO will open for subscription from February 17. The subscription window will close on February 21. While the IPO allotment will be finalised on February 28, the shares of the Pune-based e-commerce company will make list on BSE SME on March 1.
The price range for the offer has been set at Rs 96 to Rs 102 per share. The company's IPO comprises 2,328,000 equity shares with a face value of Rs 10. It seeks to raise Rs 23.74 crore from the issue.
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The minimum market lot for the Macfos IPO is one, comprising 1200 shares and an initial amount of Rs 122,400. The total reservation of Macfos IPO has been fixed at 23,28,000 shares of which 1,16,400 shares are categorized for anchor investors, 11,04,000 for Institutional Investors or Qualified Institutional Investors (QIIs), 3,32,400 shares for Non-institutional Investors (NIIs) and 7,75,200 for Retail Individual Investors (RIIs).
The company's customer base includes corporate clients and retail clients like electrical and mechanical engineering students, educational institutions, researchers, and developers. In FY21–22, Macfos served 80,000+ customers from 10153 pin codes through 2.05 lakh orders.
Before being listed on stock exchanges, the IPO traded in the grey market at a premium of Rs 60 per share above the upper band. Based on the prevailing GMP, the IPO is expected to list at Rs 162, yielding a whopping 58 per cent return.
Hem Securities Ltd is the IPO Lead Manager, also known as Book Running Lead Manager or BRLM for Macfos IPO. The registrar for the offering is Bigshare Services.
Macfos Limited provides a wide variety of more than 12,000 electrical components.
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