Macfos IPO: Retail investors are investing heavily, these are signs from the gray market, check full details of the issue before investing

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MACFOS‘s Rs 24 crore issue is fully offered for sale (OFS). The existing shareholders of the company will sell up to 23.28 crore equity shares under the issue.

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Macfos IPO: Investors are seeing a great second trend regarding the IPO of the e-commerce company Macfos. Today is the second day of subscription of this issue of Rs 24 crore and the trend of retail investors is looking tremendous. The portion reserved for retail investors has been subscribed over 41 times. Overall this issue has been subscribed to 20 times. The issue was subscribed to 8 times on the first day. The demand for shares is strong in the gray market as well. Its shares are trading at GMP (Grey Market Premium) of Rs 79 in the gray market. The price band of the issue is Rs 96-102. However, according to market experts, investment decisions should be taken based on the fundamentals and financials of the company rather than signals from the gray market.

Category-wise subscription status

Qualified Institutional Investors (QIB) – 3.55 times

Non-Institutional Investors (NII) – 0.00 times

Retail investors – 42.83 times

Total – 20.85 times

(Source- BSE, 20 Feb 2023 | 12:27:00 PM)

Macfos IPO details

The Rs 24 crore issue of Macfos is fully offered for sale (OFS). The existing shareholders of the company will sell up to 23.28 crore equity shares under the issue. The issue was open for subscription on February 17 and will be able to invest money in it till tomorrow, February 21. The issue has a price band of Rs 96-102 and a price band of 1200 shares. 50 percent of the issue is reserved for QIBs, 15 percent for NII, and 35 percent for retail investors. After the success of the IPO, the allotment of shares will be final on 24 February followed by a listing on BSE SME on 1 March.

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Company details

Macfos started its business in 2017. It has an e-commerce website and mobile app Robu. in. The company is engaged in the sale of mechanical and electronic components such as robotic parts, e-bike parts, Internet of Things (IoT) and wireless items, 3D printers and parts, sensors, motors, motor drivers, pumps, batteries, chargers and electronic modules and displays, etc.