The scrip was listed at Rs 300, a premium of 33.33% over the initial public offer (IPO) price. The counter hit a high of Rs 314 and a low of Rs 285. About 23.32 lakh shares of the company changed hands at the counter. Mach Conferences and Events' IPO was subscribed 181.99 times. The issue opened for bidding on 4 September 2024 and it closed on 6 September 2024. The price band of the IPO was set at Rs 214 to Rs 225 per share. The issue size comprised of fresh issue of 22,29,000 and offer for sale (OFS) of 33,39,000 shares by existing promoters, Amit Bhatia and Laveena Bhatia. The promoter and promoter group shareholding diluted to 69.92% from 95.97% pre-offer. The company intends to utilize the net proceeds to meet working capital requirements and general corporate purpose. Ahead of the issue, Mach Conferences and Events on 3 September 2024 raised Rs 35.50 crore from anchor investors. The board allotted 15.78 lakh shares at Rs 225 per share to 21 anchor investors. Mach Conferences and Events provides an array of services tailor made for MICE (Meeting, Incentives, Conferences, Exhibitions) and events sector. It offers end-to-end services for corporate meetings, conferences, trade shows, and other gatherings, facilitating seamless planning, execution, and coordination. The company has worked for various industries including hospitality, infrastructure, FMCG etc. The company propose to explore in B2C segment by launching a travel B2C portal BookMyYatra.com. As on 31 March 2024, the company handle 90 events across diverse locations in India and abroad. The average revenue for the conducting such events stood Rs 2.63 crore per event. The company has a total of 55 employees. The company's revenue primarily comes from package tours and event services, with a small portion derived from commission income. The company recorded revenue from operations of Rs 237.25 crore and net profit of Rs 26.18 crore for the period as on 31 March 2024. Powered by Capital Market - Live