ENA MSME 2024-09-11 17:41:51 <p><span style="font-size:14px"><strong>New Delhi, Sep 11 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">Prior to listing, the companys shares were trading at a grey market premium (GMP) of nearly 76 per cent above the issue price.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The funds raised from the public offer will be used to meet working capital requirements and for general corporate purposes.</span></p> <p><span style="font-size:14px">Mach Conferences and Events provides a wide range of services tailored to the meetings, incentives, conferences, and exhibitions (MICE) and events industry.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Services include venue selection, accommodation arrangements, transportation logistics, and on-site coordination.</span></p> <p><span style="font-size:14px">With a team of professionals, Mach Conferences focuses on attention to detail, budget control, and creativity to offer customised event solutions.</span></p> <p><span style="font-size:14px">The company provides end-to-end services for corporate meetings, conferences, trade shows, and other gatherings, ensuring seamless planning and execution.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Our commitment to customer satisfaction drives us to continuously enhance our capabilities and deliver exceptional results in the MICE industry, the company added.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39243 https://knnindia.co.in/news/newsdetails/msme/mach-conferences-and-events-shares-debut-with-333-premium-on-bse-sme-platform 2024-09-11 17:41:51 knnindia.co.in