Mach Conferences And Events Shares Debut With 33.3% Premium On BSE SME Platform

New Delhi, Sep 11 (KNN) Shares of Mach Conferences and Events listed on the BSE SME platform on Wednesday with a 33.3 per cent premium, debuting at Rs 300 compared to the issue price of Rs 225.

Prior to listing, the company’s shares were trading at a grey market premium (GMP) of nearly 76 per cent above the issue price.

The company's IPO, which comprised a fresh equity sale of 22.2 lakh shares and an offer for sale of 33.3 lakh shares, received significant interest from investors, closing with an overall subscription of 197 times.

The funds raised from the public offer will be used to meet working capital requirements and for general corporate purposes.

Mach Conferences and Events provides a wide range of services tailored to the meetings, incentives, conferences, and exhibitions (MICE) and events industry.

The company manages events ranging from small corporate meetings to large-scale global conferences. It specialises in conference and exhibition management, as well as global event planning.

Services include venue selection, accommodation arrangements, transportation logistics, and on-site coordination.

With a team of professionals, Mach Conferences focuses on attention to detail, budget control, and creativity to offer customised event solutions.

The company provides end-to-end services for corporate meetings, conferences, trade shows, and other gatherings, ensuring seamless planning and execution.

In its draft red herring prospectus (DRHP), the company stated, "Leveraging innovative design, cost-effective management, and efficient operations, we strive to stay competitive in the dynamic market landscape.”

“Our commitment to customer satisfaction drives us to continuously enhance our capabilities and deliver exceptional results in the MICE industry," the company added.

For the fiscal year ending March 2024, Mach Conferences reported total revenues of Rs 237 crore and a net profit of Rs 26.18 crore.

(KNN Bureau)