Mach Conferences and Events IPO Subscription Status

Mach Conferences and Events' initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three days. Starting strongly on day one, the IPO witnessed a surge in demand, resulting in an impressive 59.06 times oversubscription by the close of day three. This strong response underscores the robust market appetite for Mach Conferences and Events' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 4th September 2024, has seen increasing investor participation across all categories. In particular, the Non-Institutional Investors (NII) segment has shown exceptional demand, while the Retail and Qualified Institutional Buyers (QIB) categories have also demonstrated solid interest.

This enthusiastic response to Mach Conferences and Events IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the MICE (Meetings, Incentives, Conferences, Exhibitions) and events sector. The company's comprehensive service offerings in conference management, exhibition management, and global event planning appear to have resonated well with investors looking for exposure to India's growing events industry.

Subscription Status of Mach Conferences and Events IPO for Days 1, 2, and 3:

On day 1, Mach Conferences and Events IPO was subscribed 7.63 times. By the end of day 2, the subscription status had risen to 22.61 times; on day 3, it reached 59.06 times.

Here are the subscription details for Mach Conferences and Events IPO as of Day 3 (6th September 2024 at 12:47:08 PM):

Total Applications: 286,270

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• ** The portion of anchor investors is not included in the total number of shares offered.
• *** The Market Maker portion is not included in NII/HNI.

Key Highlights:

• The IPO of Mach Conferences and Events is currently subscribed 59.06 times, with strong demand across investor categories.
• Non-Institutional Investors (NII) have shown exceptional interest, with a subscription ratio of 86.66 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 71.52 times.
• Qualified Institutional Buyers (QIB) have shown solid interest, with a subscription ratio of 16.53 times.
• The overall subscription trend significantly increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Mach Conferences and Events IPO - Day 2 Subscription at 22.61 Times

Key Highlights:

• On Day 2, Mach Conferences and Events' IPO was subscribed 22.61 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 33.53 times, more than tripling their subscription from the previous day.
• The Non-Institutional Investors (NII) category subscription improved to 21.85 times, showing growing interest from this segment.
• Qualified Institutional Buyers (QIB) showed slightly increased interest with a subscription ratio of 4.05 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Mach Conferences and Events IPO - Day 1 Subscription at 7.63 Times

Key Highlights:

• The IPO of Mach Conferences and Events was subscribed 7.63 times on Day 1, with strong initial demand from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 9.88 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed solid initial interest with a subscription ratio of 7.85 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 3.52 times.
• The strong first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Mach Conferences and Events IPO:

Mach Conferences and Events Limited, established in 2004, is a comprehensive service provider for the MICE (Meetings, Incentives, Conferences, Exhibitions) and events sector. The company specialises in conference management, exhibition management, and global event planning. Their services extend to all logistical aspects of events at specific destinations, including venue selection, accommodation, transportation logistics, local activities, and on-site coordination.

The company caters to a diverse clientele, primarily from the banking, finance, and insurance sectors, but has also worked across various industries, including hospitality, infrastructure, and FMCG. In the financial year 2023-24, the company conducted 90 events in locations such as London, Mussoorie, Bangalore, South Korea, Paris, Goa, Srinagar, and Singapore, with an average revenue of ₹263.62 lakhs per event.

Mach Conferences and Events maintains a presence with co-working spaces in more than 18 states and union territories, including Delhi, Maharashtra, Kolkata, Assam, Tamil Nadu, Jammu & Kashmir, Himachal Pradesh, Goa, and Rajasthan. As of 31st March 2024, the company employed 55 people.

Highlights of the Mach Conferences and Events IPO:

• IPO Date: 4th September 2024 to 6th September 2024
• Listing Date: 11th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹214 to ₹225 per share
• Lot Size: 600 Shares
• Total Issue Size: 5,568,000 shares (aggregating up to ₹125.28 Cr)
• Fresh Issue: 2,229,000 shares (aggregating up to ₹50.15 Cr)
• Offer for Sale: 3,339,000 shares (aggregating up to ₹75.13 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE SME