MARC Technocrats IPO day 1: The initial public offering (IPO) of MARC Technocrats opened for subscription on Wednesday, December 17. The SME IPO is a combination of a fresh issue of 36.7 lakh shares and an offer for sale (OFS) of 9.1 lakh shares. Meanwhile, grey market sources say the stock is not witnessing significant buying interest in the grey market amid the IPO. The latest grey market premium (GMP) of MARC Technocrats shares indicates the stock could list at par with the issue price.
MARC Technocrats IPO GMP
According to grey market sources, the GMP of MARC Technocrats shares was nil on Wednesday morning. This indicates the stock could list flat on the NSE SME.
MARC Technocrats IPO subscription status
By 11:20 am on Wednesday, the SME IPO had seen an overall subscription of nearly 0.16 times, with the retail portion booked 0.19 times, and the segment reserved for NIIs subscribed to 0.13 times. QIB’s portion was yet to see any subscription till that time.
MARC Technocrats IPO details
1. MARC Technocrats IPO objects: According to the RHP, the company will use the net proceeds from the issue to fund capital expenditure requirements for the purchase of equipment, to meet the expenses of working capital requirements, as well as for the general corporate purposes.
2. MARC Technocrats IPO date: The SME IPO opened for subscription on Wednesday, December 17, and will close on Friday, December 19.
3. MARC Technocrats IPO price: The price band of the public issue has been fixed at ₹88 to ₹93 per equity share.
4. MARC Technocrats IPO size: The NSE SME IPO is a fresh issue of 36,69,600 shares and an OFS of 9,09,600 shares. Promoter Hitender Kumar is offloading 9,09,600 shares of the company in the OFS.
5. MARC Technocrats IPO lot size: Retail investors can bid for a minimum and maximum of 2,400 shares.
6. MARC Technocrats IPO reservation: Retail investors have been offered 21,48,000 shares (46.91% of the issue), while NIIs have been offered 21,45,600 shares, or 46.86% of the net issue. The company has reserved 46,800 shares (1.02 of the net issue) for QIBs.
7. MARC Technocrats IPO allotment date: The company is expected to finalise the share allotment on Monday, December 22. Successful bidders can expect shares of the company in their demat accounts on Tuesday, December 23, and bidders who fail to get the allocation may get a refund on the same day.
8. MARC Technocrats IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Narnolia Financial Services Ltd. is the book-running lead manager, and Maashitla Securities Private Limited is the registrar of the MARC Technocrats IPO.
9. MARC Technocrats IPO listing: As per SEBI’s T+3 rule of IPO listing, the IPO is proposed for listing on the NSE SME on Wednesday, December 24.
10. MARC Technocrats business overview: As per the RHP, MARC Technocrats provides its services for the infrastructure projects, such as roads and highways, railways, buildings, and water resources.
It is engaged in the business of infrastructure consultancy services, comprising supervision and quality control (SQC), preparation of detailed project reports (DPRs), third-party techno-financial auditor and pre-bid advisory services.
For FY23, the company’s profit was ₹2.64 crore, which rose to ₹3.45 crore in FY24 and to ₹7.5 crore in FY25.
Revenue from operations also saw a sustained growth since FY23. In FY23, FY24, and FY25, the company’s revenue stood at ₹20.16 crore, ₹26.04 crore, and ₹47.75 crore, respectively.
Read all IPO-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
