Retail investors are showing great interest in Macfos’ IPO . On day 2, check the GMP and subscription status.
Macfos Ltd’s initial public offering (IPO), which opened for public subscription on Friday, February 17, 2023, was oversubscribed more than eight times on day one, thanks to significant demand from retail investors. The three-day initial share sale, with a price range of 96 to 102 cents per share, will end on Tuesday, February 21, 2023.
According to BSE data, the public issue has been subscribed to 18.52 times in the retail category and 0.02 times in the qualified institutional buyers (QIBs) category, while non-institutional investors (NIIs) have yet to bid.
The Macfos IPO is a small and medium-sized enterprise (SME) offering of 2,328,000 equity shares with a face value of ten rupees, totaling up to 24 crore. The Selling Shareholders have made an Offer for Sale (OFS) as part of the Offer. The company’s promoters are Atul Maruti Dumbre, Binod Prasad, and Nileshkumar Purshottam Chavhan.
According to the business’s offer paperwork, the selling shareholders will receive the entire proceeds from the OFS, with the company receiving no portion of the proceeds.
According to market experts, Macfos shares are currently commanding a premium (GMP) of 82 in the grey market. The company’s shares are expected to be listed on the BSE SME on March 1, 2023. The exchanges’ SME platform is designed for small and medium-sized businesses. The issue’s registrant is Bigshare Services Pvt Ltd.
Macfos Limited is an e-commerce company that sells over 12000 electronic components via its website and mobile application Robu.in. Goods from the company are utilised in basic and advanced engineering products and projects, including emerging technologies such as IoT, Robotics, Automation, Drone, Electric Vehicles, 3D Printing, and Auto Guided Vehicles.
“Even if the company has fared well in the last 18 months, maintaining these growths in the future can be a risk in the long run. When GMP is positive, one can apply for listing gains “Manish Khanna, Co-Founder of Unlisted Assets, agreed.