Macobs Technologies Limited IPO Opens On July 16, 2024
Mumbai (Maharashtra) [India], July 15: Macobs Technologies Limited, a premium men's grooming brand, has announced its plan to go public with an Initial Public Offering (IPO) on July 16, 2024. The company is aiming to raise Rs 19.46 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
ANI
Jul 15, 2024 11:28 IST
PNN
Mumbai (Maharashtra) [India], July 15: Macobs Technologies Limited, a premium men's grooming brand, has announced its plan to go public with an Initial Public Offering (IPO) on July 16, 2024. The company is aiming to raise Rs 19.46 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
- Total Issue Size - 25,95,200 Equity Shares of Rs 10 each
- Issue Size - Rs 19.46 Crores (At Upper Band)
- Price Band - Rs 71 - Rs 75 Per Share
- Lot Size - 1,600 Equity Shares
The issue size is Up To 25,95,200 equity shares at face value of Rs 10 each.
Equity Share Allocation
- QIB Anchor Portion - Up To 4,43,200 Equity Shares
- Qualified Institutional Buyers (QIB) - Up To 2,96,000Equity Shares
- Non-Institutional Investors (NII) - Up To 8,62,400Equity Shares
- Retail Individual Investors (RII) - Up To 8,62,400 Equity Shares
- Market Maker - Up To 1,31,200 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements, prepay or repay a portion of certain outstanding borrowings, and general corporate purposes. The bidding for Anchor portion will open on July15, 2024, the issue will open for subscription for all other category from July 16, 2024 and closes on July 19, 2024.
The Book Running Lead Manager to the Issue is SKI Capital Services Limited. The Registrar to the Issue is Maashitla Securities Private Limited.
Dushyant Gandotra, Managing Director of Macobs Technologies Limited expressed, "We are delighted to announce the upcoming IPO of Macobs Technologies Limited. This significant milestone is a testament to our relentless dedication to revolutionizing the male grooming industry with innovative and high-quality products. The funds raised from this IPO will be instrumental in driving our strategic initiatives, including enhancing our e-commerce platform, accelerating product development, and expanding our customer base. Our vision is to empower men with superior grooming solutions that not only meet their needs but also promote confidence and well-being. We are excited about the future and the opportunities that lie ahead.
Ghanisht Nagpal, Partner Merchant Banking of SKI Capital Services Limited said, "Macobs Technologies Limited is strategically positioned to capitalize on the significant growth potential within the male grooming market. The company's focus on specialized below-the-belt care products aligns perfectly with evolving consumer preferences and the cultural shift towards comprehensive self-care among men. With the upcoming IPO, Macobs is set to leverage India's dynamic e-commerce sector and advanced payment systems, positioning itself for substantial growth. This initiative underscores the company's commitment to innovation and addressing market needs, making it a promising investment opportunity as India continues to surpass global e-commerce milestones."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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