Macobs Technologies IPO To Open Tomorrow; Check Price Band And Other Key Details

Macobs Technologies Ltd, a participant in the male grooming products sector, is set to launch its Initial Public Offering to raise Rs 19.46 crore through a fresh issue of 25.95 lakh shares. The IPO opens for subscription on July 16, 2024 and will close on July 19, 2024. The allotment is expected to be finalised by July 22, 2024, with a tentative listing on the NSE SME platform scheduled for July 24, 2024.

Investors can participate in the Macobs Technologies IPO by bidding for a minimum of 1600 shares and in multiples thereof. The price band is set at Rs 71 to Rs 75 per share, requiring a minimum investment of Rs 120,000 for retail investors and Rs 240,000 for High Net Worth Individuals.

Macobs Technologies IPO is reserving not more than 30% of the net issue for qualified institutional buyers (QIBs), 35% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 1,31,200 equity shares have been allotted to the market maker portion.

The IPO is managed by SKI Capital Services Limited as the book-running lead manager, with Maashitla Securities Private Limited appointed as the registrar. SKI Capital Services will also act as the market maker for the IPO.

Founded in 2019, Macobs Technologies specialises in male grooming products, offering a range of specialized trimmers, hygiene products, and self-care items designed for sensitive areas and male skin. The company operates exclusively through its online platform, catering to niche markets that are often overlooked by traditional retailers.

Macobs Technologies differentiates itself by focusing on niche male grooming markets and leveraging an e-commerce strategy to expand its market reach efficiently while maintaining operational flexibility and reducing overhead costs.

The funds raised through the IPO will be allocated towards several strategic objectives. Firstly, Macobs Technologies plans to invest in customer acquisition through targeted marketing and awareness campaigns aimed at expanding its customer base. Secondly, a portion of the funds will be used for debt repayment, focusing on prepayment or repayment of outstanding borrowings to strengthen the company's financial position.

Additionally, the IPO proceeds will be allocated to meet the company's working capital requirements, ensuring adequate funds are available to support ongoing operations. Finally, funds will also be allocated for general corporate purposes, including covering routine corporate expenses and meeting the expenses related to the IPO issue process.

In the fiscal year ending March 31, 2024, Macobs Technologies reported a revenue increase of 39.91% and a modest 8.2% rise in profit after tax (PAT) compared to the previous year, underscoring its growth trajectory in the competitive grooming products sector.