Macobs Technologies IPO Subscribed 202.32 Times At End Of Day 3

Macobs Technologies Ltd., a participant in the male grooming products sector's initial public offering witnesses a robust subscription with the issue getting subscribed 202.32 times on Friday.

The IPO was subscribed 202.32 times as of 06:19 p.m. on Friday, as per market tracking site Chittorgarh.

• Anchor Investors - 1 time

• Qualified Institutions - 88.92 times

• Non-Institutional Buyers - 266.70 times

• Retail Investors - 176.87 times

The IPO opened for subscription on July 16 and will close on July 19. The allotment is expected to be finalised by July 22, with a tentative listing on the NSE SME platform scheduled for July 24.

Investors can participate in the Macobs Technologies IPO by bidding for a minimum of 1600 shares and in multiples thereof. The price band is set at Rs 71 to Rs 75 per share, requiring a minimum investment of Rs 120,000 for retail investors and Rs 240,000 for High Net Worth Individuals.

Macobs Technologies IPO is reserving not more than 30% of the net issue for qualified institutional buyers (QIBs), 35% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 1,31,200 equity shares have been allotted to the market maker portion.

The IPO is managed by SKI Capital Services Limited as the book-running lead manager, with Maashitla Securities Private Limited appointed as the registrar. SKI Capital Services will also act as the market maker for the IPO.

Founded in 2019, Macobs Technologies specialises in male grooming products, offering a range of specialized trimmers, hygiene products, and self-care items designed for sensitive areas and male skin. The company operates exclusively through its online platform, catering to niche markets that are often overlooked by traditional retailers.

Macobs Technologies differentiates itself by focusing on niche male grooming markets and leveraging an e-commerce strategy to expand its market reach efficiently while maintaining operational flexibility and reducing overhead costs.

In the fiscal year ending March 31, 2024, Macobs Technologies reported a revenue increase of 39.91% and a modest 8.2% rise in profit after tax (PAT) compared to the previous year, underscoring its growth trajectory in the competitive grooming products sector