Mach Conferences and Events Limited Announces IPO to Raise Rs 125.28 Crores

Mach Conferences and Events Limited is set to open its IPO on September 04, 2024, aiming to raise Rs 125.28 Crores. The IPO seeks to allocate fresh equity shares for working capital and corporate needs.

PNN New Delhi [India], August 31: Mach Conferences and Events Limited, a key player in the MICE industry known for comprehensive event management solutions, is gearing up for its Initial Public Offering (IPO) on September 04, 2024. The company aims to raise Rs 125.28 Crores at the upper pricing band, with shares to be listed on the BSE SME platform.

The IPO comprises a total issue size of 55,68,000 equity shares, including a fresh issue of 22,29,000 shares and an Offer For Sale (OFS) of 33,39,000 shares at a face value of Rs 10 each. Equity shares are allocated as follows: QIBs (including Anchor Portion) - not more than 26,31,600 shares, High-Net-Worth Individuals (HNI) - not less than 7,91,400 shares, Retail Individual Investors (RII) - not less than 18,45,000 shares, and Market Maker - 3,00,000 shares.

The funds raised are earmarked for working capital needs and general corporate purposes. The bidding for the Anchor Portion opens on September 03, 2024, with the issue available for subscription by all other categories from September 04 to September 06, 2024. Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited serves as the Registrar.

Amit Bhatia, Chairman & Managing Director of Mach Conferences, stated, "This IPO is a significant step forward, enabling us to meet working capital demands and undertake larger, high-value events, which will boost our brand and operational performance."

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(With inputs from agencies.)