Mach Conferences & Events IPO: Lot Size, GMP, Listing Date, and Details.
Introduction to Mach Conferences & Events IPO
The Mach Conferences and Events IPO is a book-built offer valued at Rs 125.28 crores. It consists of a fresh issue of 22.29 lakh shares worth Rs 50.15 crores and an offer for sale of 33.39 lakh shares amounting to Rs 75.13 crores. The IPO subscription period begins on September 4, 2024, and ends on September 6, 2024. Investors are eagerly awaiting the allotment, which is expected to be finalized on Monday, September 9, 2024.
Following this, the Mach Conferences and Events IPO is slated to be listed on the BSE SME platform on Wednesday, September 11, 2024. The price band for the IPO ranges between Rs 214 and Rs 225 per share. For retail investors, the minimum lot size for applying is 600 shares, translating to an investment of Rs 1,35,000. High Net Worth Individuals (HNIs) can apply with a minimum of 2 lots, which requires 1,200 shares and an investment of Rs 2,70,000.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the IPO, while Skyline Financial Services Private Ltd acts as the registrar. Spread X Securities is designated as the market maker for the Mach Conferences and Events IPO.
Mach Conferences & Events IPO Grey Market Premium (GMP)
As of 12:30 PM on August 30, 2024, the latest Grey Market Premium (GMP) for the Mach Conferences and Events SME IPO stands at Rs 77. The IPO’s price band is set between Rs 214 and Rs 225 per share. Based on today’s GMP and the upper price band of Rs 225, the estimated listing price is around Rs 302 per share. This results in a projected gain of 34.22% per share over the issue price.
In addition, the IPO’s retail subject to Sauda (a premium negotiated in the grey market based on the expectation of allotment) is valued at Rs 35,100, further highlighting the strong demand and potential gains associated with this SME IPO.
Company Overview: Mach Conferences and Events Limited
Mach Conferences and Events Limited, founded in 2004, offers a variety of bespoke services in the MICE (Meetings, Incentives, Conferences, Exhibitions) and events sector globally. The company specializes in managing conferences, exhibitions, and event logistics, ensuring a seamless experience for clients.
Their expertise extends to handling the logistics of events at various destinations, covering crucial aspects like venue selection, accommodation arrangements, transportation logistics, local activities, and on-site event coordination. The company boasts a diverse clientele from industries such as banking, finance, insurance, hospitality, infrastructure, FMCG, and more.
During the fiscal year 2023-24, Mach Conferences and Events successfully organized 90 major events across different cities and countries, generating an average revenue of Rs 263.62 lakhs per event. The company’s operations spanned global locations, including but not limited to London, Mussoorie, Bangalore, South Korea, Paris, Goa, Srinagar, and Singapore.
Mach Conferences and Events has established a strong presence within India, with co-working spaces in over 18 states and union territories, including Delhi, Maharashtra, Kolkata, Assam, Tamil Nadu, Jammu & Kashmir, Himachal Pradesh, Goa, and Rajasthan. As of March 31, 2024, the company employed 55 staff members.
Strong Track Record and Future Prospects
With more than two decades of experience, Mach Conferences and Events Limited has built a solid reputation for successfully executing over 300 large and medium-sized events over the last three years. Their clientele includes 30+ elite brands across a wide range of sectors, which speaks to the trust and confidence that the company has garnered within the industry.
The company’s operations are not confined to India; they extend across multiple countries, ensuring a global footprint. With its wide-ranging services and international reach, Mach Conferences and Events is well-positioned for future growth, benefiting from the increasing demand for corporate events and exhibitions worldwide.
In conclusion, the Mach Conferences and Events IPO presents a compelling investment opportunity for investors looking to tap into the expanding events and MICE sector. The company’s robust track record, experienced management team, and promising financial performance make it a strong contender in the SME IPO space.