Hem securities ltd. - Latest News Update, Information, Photos & Videos on Hem securities ltd. at Lokmat Times

Macfos public offer opened on February 17 & closed yesterday February 21. The company had fixed the issue price band at Rs 96-102.Pune (Maharashtra) [India], February 22: The SME issue was oversubscribed 270.58 times on the last day. Non-institutional investors’ portion got oversubscribed by 488.82 times, while Qualified Institutional Buyers (QIB) received bids 53.70 times more than the existing shares. The Retail Investors portion got oversubscribed by 268.45 times & 1.73 lacs Investors subscribed for the same.The Issue was Lead Managed by Hem Securities Ltd., all its previous IPO’s have seen huge over subscriptions by Investors of all classes. Bigshare Services Pvt Ltd was the registrar of the issue.The finalisation of the basis of share allotment is expected to take place on February 24, 2023 and if allotted, the credit of shares to demat will be done on February 28, 2023.The issue size was Rs 23.74 crore at the upper price band and investors can bid for a lot of 1,200 equity shares. The total reservation of Macfos IPO was fixed at 23,28,000 shares, of which 1,16,400 shares are categorized for anchor investors, 11,04,000 for qualified institutional buyers (QIBs), 3,32,400 shares for non-institutional investors (NIIs) and 7,75,200 for retail investors (RIIs).Macfos is an e-commerce-based company marketing a broad range of over 12000 electronic components through its website and mobile application Robu.in. It facilitates speeding up product R&D and the prototyping cycle.The company’s products are used in basic and advanced engineering products and projects, including emerging technologies such as IoT, robotics, automation, drones, electric vehicles, 3D printing, and auto-guided vehicles. It served over 80,000 customers through 2.05 lakh orders in FY22.Macfos shares are expected to debut on the BSE SME platform on March 1. The issue was a complete offer for sale (OFS) of up to 23,28,000 equity shares with a face value of Rs 10 aggregating to Rs 2,374 crore.The company said the objects of the offer are to achieve the benefits of listing. Further, the listing will enhance its goodwill and provide liquidity to the existing shareholders. The company expects that the proposed listing will also provide a public market for the shares in India.If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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