Mach Conferences and Events is a prominent player in the global Meetings, Incentives, Conferences, and Events (MICE) industry. Known for their expertise in arranging, coordinating, and executing high-profile events, Mach Conferences sets a high standard in the industry.

The company is launching an Initial Public Offering (IPO) with a Book Built Issue amounting to ₹125.27 crores. This includes a Fresh Issue of 22.29 lakh shares worth ₹50.15 crores and an Offer for Sale of 33.39 lakh shares totaling ₹75.12 crores. The IPO subscription period runs from September 4, 2024, to September 6, 2024, with a tentative listing date on the BSE SME set for Wednesday, September 11, 2024.

The price band for the IPO is set between ₹214 and ₹225 per share, with a minimum lot size of 600 shares. Retail investors must invest a minimum of ₹135,000, while High-Net-Worth Individuals (HNIs) need to invest in 2 lots (1,200 shares), amounting to ₹270,000.

BEELINE CAPITAL ADVISORS PRIVATE LIMITED is the book-running lead manager, SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar, and Spread X Securities Private Limited will act as the Market Maker for the IPO.

Live Subscription Status and Allotment

As of 11:27 AM on September 6, 2024, the Mach Conferences IPO live subscription status indicates a high subscription rate of 36.01 times on its final day, reflecting strong investor interest.

The IPO allotment date is scheduled for Monday, September 9, 2024. Investors can check their allotment status on the registrar’s website by following these steps:

Go to the IPO allotment status page.

Select Mach Conferences and Events Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

This will allow investors to verify their share allocation and proceed as needed.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for the Mach Conferences IPO is expected to range between ₹160 and ₹170, suggesting potential listing gains of 70% to 75%. While GMP provides an indication of market sentiment, it is based on unofficial trading and should be considered for educational purposes only. The final price will be set based on market conditions and investor demand.

Financial Performance

Mach Conferences has demonstrated remarkable financial growth. The company’s revenue surged from ₹2,383.88 lakhs in FY22 to ₹14,193.89 lakhs in FY23, and further to ₹23,898.58 lakhs in FY24, indicating a robust expansion and market presence.

EBITDA also experienced significant growth, moving from a negative ₹231.02 lakhs in FY22 to ₹1,080.47 lakhs in FY23, and reaching ₹3,454.01 lakhs in FY24.

The company’s Profit After Tax (PAT) increased from a loss of ₹260.63 lakhs in FY22 to ₹880.76 lakhs in FY23, and surged to ₹2,618.29 lakhs in FY24, reflecting strong profitability and operational success.

For the Mach Conferences IPO, the company is issuing shares at a pre-issue EPS of ₹13.92 and a post-issue EPS of ₹12.44. The pre-issue P/E ratio stands at 16.16x, while the post-issue P/E ratio is 18.08x, compared to the industry P/E ratio of 54.48x. These metrics suggest that the IPO is attractively priced relative to industry standards.

The company’s Return on Capital Employed (ROCE) for FY24 is 57.57%, and the Return on Equity (ROE) is 72.78%, showcasing strong returns on investments and equity.

Objectives of the IPO

The proceeds from the Fresh Issue will be allocated for the following purposes:

₹3,326.00 lakhs to meet working capital requirements, ensuring adequate liquidity for operations.

For general corporate purposes, supporting the company's growth and strategic initiatives.

Mach Conferences IPO Review and Recommendation

Mach Conferences and Events has established a strong reputation in the MICE industry with a high standard of service and execution. Founded by Amit Bhatia and Laveena Bhatia, the company benefits from their extensive experience in the industry.

The company's financial performance reflects significant growth and profitability, with strong revenue, EBITDA, and PAT metrics. The IPO’s pricing, combined with high ROCE and ROE, makes it an appealing opportunity for investors.

Given the Grey Market Premium indicating substantial potential listing gains and the company's solid financial metrics, we recommend applying for the Mach Conferences and Events Limited IPO for both listing gains and long-term investment. The company's successful track record and strong financial health offer a promising investment outlook.

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