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Mach Conferences and Events IPO to open for subscription on September 4; price band set at ₹214-225 apiece

The initial public offering (IPO) of Mach Conferences and Events will have a subscription period that runs from Wednesday, September 4, to Friday, September 6. Mach Conferences and Events IPOis priced between ₹214 and ₹225 per share, with a face value of ₹10. Multiples of those shares are available, with a minimum of 600 shares being put up for bid.

The company has allocated equity shares as follows: QIB (including Anchor Portion) – a maximum of 26,31,600 equity shares; high-net-worth individual (HNI) – at least 7,91,400 equity shares; Retail Individual Investors (RII) – at least 18,45,000 equity shares; and market maker – 3,00,000 equity shares. The company offers a wide range of services specifically designed for the MICE (Meeting, Incentives, Conferences, Exhibitions) and events industries. They have organised anything from little business gatherings to huge international events. The company specialises in global event planning, exhibition management, and conference management. Additionally, the business oversees all event logistics at certain locations. This covers the choice of location, lodging plans, logistics of transit, nearby activities, and on-site management. Mach Conferences and Events IPO details Mach Conferences and Events IPO, which is worth ₹125.28 crore, comprises a fresh issue of ₹50.15 crore, and an offer-for-sale (OFS) of ₹75.13 crore equity shares by the promoter selling shareholder.

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Market regulator Sebi advises exchanges to be more discerning on SME IPOs

Exchanges and market ecosystem should learn to say ‘no’ when it comes to listings of small and medium enterprises (SMEs), said Ashwani Bhatia, a whole-time member of the Securities and Exchange Board of India (Sebi), amid concerns of manipulation and fraudulent practices in the sector. His comments come at a time when the market capitalisation of SMEs has surged to Rs 2 trillion and the segment sees heightened investor frenzy for subscriptions during Initial Public Offerings (IPOs). "Nobody is saying no to SME listings, even when they inflate their balance sheets. The auditors should be good doctors —don’t give them steroids when they can survive on paracetamol," he said at the Financing 3.0 Summit in Mumbai. Bhatia urged SMEs to explore other funding opportunities through alternative funds before exploring listing. “Instead of coming straight to IPO, a better way is to go to angel investors. Grow there for a while and then come to the exchanges,” he suggested. The commitments from Sebi-registered alternative investment funds (AIFs) have surged to Rs 1,169 crore for SME financing as of March, with Rs 735 crore already raised. At the same event organised by the Confederation of Indian Industry (CII), Ashishkumar Chauhan, MD & CEO of the National Stock Exchange (NSE), said the exchanges have taken cognisance of the issues in SME listings. “We will maintain the balance, and a stricter guideline is expected. Not all SMEs are doing good," said Chauhan. The market regulator has of late adopted a stricter approach towards surveillance of SMEs and issued orders against firms found using the route to allegedly siphon off funds, inflate prices through fictitious transactions, or towards promoters using the avenue to offload stakes.

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Shree Tirupati Balajee Agro Trading Sets Price Band For IPO At Rs 78 To Rs 83 Per Share

Shree Tirupati Balajee Agro Trading Co. Ltd. has set the price band for its debut initial public offering in the range of Rs 78 to Rs 83 per share at a face value of Rs 10. The IPO for the company will open from Sept. 5 to Sept. 9 and investors can bid for a minimum of 180 shares and in multiples of 180 shares thereafter, according to a statement released by the company. The IPO consists of a fresh issue of up to 1,47,50,000 equity shares and an offer for sale of up to 56,90,000 equity shares. The proceeds received from fresh issues at Rs 31.45 crore will be utilised to repay some of the existing debts of the company, while Rs 20.82 crore will be invested in the company's multiple subsidiaries to repay their existing debts, it said.

The three-star export house will avail Rs 13.50 crore to fund its capital requirements and will invest Rs 10.74 crore in its subsidiaries to fund their working capital requirements. PNB Investment Services Ltd. and Unistone Capital Pvt. Ltd. are the book-running lead managers and Link Intime India Pvt. Ltd. is the registrar of the offer. As an offer is being made through the bookbuilding processup to 50% of it will be set aside for qualified institutional buyers, at least 15% will be for non-institutional bidders, and at least 35% will be reserved for retail individual bidders.

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Top Gainers and Losers today on 2 September, 2024: Bajaj Finance, Bajaj Finserv, Hindalco Industries, Dr Reddys Laboratories among most active stocks

Top Gainers and Losers Today : The Top Gainers and Losers Today: The Nifty closed at 25,235.9, up by 0.17%. During the day, the Nifty touched a high of 25,333.65 and a low of 25,235.5. The Sensex traded in the range of 82,725.28 and 82,440.93 and closed 0.24% up at 82,365.77, which was 194.07 points above the opening price. The Midcap index underperformed the Nifty 50 as the Nifty Midcap 50 closed 0.18% down. Small cap stocks also underperformed the Nifty 50, with the Nifty Small Cap 100 ending at 19,307.1, down by 62.8 points and 0.33% lower.

Nifty Index Top Gainers and Losers Today The top gainers in the Nifty index were Bajaj Finance (up 3.33%), Bajaj Finserv (up 3.22%), HCL Technologies (up 3.05%), Hero Motocorp (up 2.25%), and Bajaj Auto (up 2.15%). The top losers in the Nifty index were Hindalco Industries (down 2.49%), Dr. Reddy's Laboratories (down 2.26%), Tata Motors (down 1.68%), NTPC (down 1.49%), and Oil & Natural Gas Corporation (down 1.38%).

Sensex: Top Gainers: Bajaj Finserv (up 3.23%), Bajaj Finance (up 3.19%), HCL Technologies (up 3.13%), ITC (up 1.60%), Indusind Bank (up 1.55%)

Top Losers: NTPC (down 1.57%), Tata Motors (down 1.52%), Wipro (down 1.12%), Mahindra & Mahindra (down 1.04%), Bharti Airtel (down 0.97%)

Nifty: Top Gainers: Bajaj Finance (up 3.33%), Bajaj Finserv (up 3.22%), HCL Technologies (up 3.05%), Hero Motocorp (up 2.25%), Bajaj Auto (up 2.15%)

Top Losers: Hindalco Industries (down 2.49%), Dr. Reddy's Laboratories (down 2.26%), Tata Motors (down 1.68%), NTPC (down 1.49%), Oil & Natural Gas Corporation (down 1.38%)

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