Mach Conferences and Events IPO Lists at ₹300, Surges 33.33% Over Issue Price

Mach Conferences and Events, a company specialising in MICE (Meetings, Incentives, Conferences, Exhibitions) and events services, made a strong debut on the Indian stock market on 11th September 2024, listing its shares at a significant premium to the issue price. The company's initial public offering (IPO) generated robust demand from investors during its subscription period, setting the stage for an impressive market debut.

Listing Details

• Listing Price: Mach Conferences and Events shares were listed at ₹300 per share on the BSE SME platform, marking a strong start to its journey as a publicly traded company.
• Comparison to Issue Price: The listing price represents a substantial premium over the IPO issue price. Mach Conferences and Events had set its IPO price at ₹225 per share.
• Percentage Change: The listing price of ₹300 on the BSE SME translates to a premium of 33.33% over the issue price of ₹225.

First-Day Trading Performance

• Opening vs. Latest Price: Following its strong opening at ₹300, Mach Conferences and Events' share price corrected 5% to ₹285 shortly after listing.
• Market Capitalisation: The company's market capitalisation stood at approximately ₹473 crore.

Read all about Mach Conferences and Events IPO

Market Sentiment and Analysis

• Market Reaction: The market reacted positively to Mach Conferences and Events' listing. The strong listing premium indicates robust demand and investor confidence in the company's prospects.
• Grey Market Premium: Prior to listing, shares were trading at a premium of ₹145 in the grey market, suggesting an expected listing gain of 64.44% that partially materialised.
• Subscription Rate: The IPO was oversubscribed by 196.70 times, with the retail category subscribed 136.49 times, QIB category 146.66 times, and NII category 403.69 times.

Growth Drivers and Challenges

Expected drivers of future performance:

• A comprehensive array of services for the MICE and events sector
• Experience in managing small corporate events to large global events
• A strong team of MICE and events professionals

Potential Challenges:

• Competition in the dynamic MICE industry
• Dependence on corporate and business event trends
• Potential economic fluctuations affecting event budgets

Utilisation of IPO Proceeds

Mach Conferences and Events plans to use the funds for:

• Working capital requirements
• General corporate purposes

Financial Performance

The company has demonstrated strong financial performance:

• For the year ended March 2024, total revenues were ₹237 crore
• Net profit for FY2024 was ₹26.18 crore

As Mach Conferences and Events begins its journey as a listed entity, market participants will closely monitor its ability to leverage its position in the MICE industry to drive future growth and shareholder value. The strong listing and overwhelming subscription rates suggest positive market sentiment towards the company's prospects in the dynamic events and conferences sector.