Public Market

IPO

Macfos' Rs.23.7 Cr SME IPO oversubscribed 194 times

Mint  

The SME IPO of Pune-headquartered Macfos Ltd was oversubscribed 193.87 times with 268.45x bid seen in the retail category, 21.60 times in the qualified institutional buyers (QIBs) category, and 659.99 times in the non-institutional investors category. The IPO aimed to raise about INR 23.7 crore with an NII quota of 15%, QIB of 50%, and a retail quota of 35%. The Issue was Lead Managed by Hem Securities Ltd. Macfos manufactures DC Motor Drivers, GSM GPRS Modules, LiDAR Sensors, Breakout Boards, and ESP WiFi Modules. The shares of the company are expected to list on BSE SME on March 1, 2023.