Macobs Technologies share price made a decent stock market debut on Wednesday. Macobs Technologies shares were listed at ₹96 apiece on NSE SME, a premium of 28% to the issue price of ₹75 per share.
Macobs Technologies IPO listing was better than street expectations as Macobs Technologies IPO GMP today, or grey market premium today, was around 19%.
Macobs Technologies IPO is an SME IPO that opened for subscription on Tuesday, July 16, and closed on Friday, July 19. The IPO allotment was finalized on July 22 and the IPO listing date is today, July 24. Macobs Technologies shares got listed on NSE SME.
Macobs Technologies IPO price band was set at ₹71 to ₹75 per share. The company raised ₹19.46 crore from the book-built issue which was entirely a fresh issue of 25.95 lakh equity shares.
The company plans to utilize the net issue proceeds funds towards customer acquisition, prepayment or repayment of a portion of certain outstanding borrowings, working capital requirements and general corporate purposes.
SKI Capital Services Limited is the book running lead manager of the Macobs Technologies IPO, while Maashitla Securities Private Limited is the IPO registrar.
Macobs Technologies IPO received robust demand during its bidding period as the issue was subscribed 202.32 times in total. The public issue received bids for 40.88 crore equity shares as against 20.20 lakh shares on the offer.
The IPO was subscribed 176.87 times in the retail category, 88.92 times in Qualified Institutional Buyers (QIB) category, and 266.70 times in the Non-Institutional Investors (NII) category.