Mach Conferences And Events share price jumped over 9% on Tuesday, extending gains for the third consecutive session. Mach Conferences And Events is an SME stock and was recently listed on the BSE SME platform. The SME stock surged as much as 9.51% to a high of ₹279.00 apiece.
The rally in Mach Conferences And Events shares comes after one of its promoters increased stake in the company through purchase of shares from the open market.
Promoter Adit Bhatia purchased a total of 34,800 equity shares of Mach Conferences And Events in five tranches from September 25 to September 30. Bhatia held 11,000 shares or 0.05% stake in the company as on September 25.
After the acquisition, his shareholding increased to 0.22% stake, with a total of 45,800 shares in the company.
The total promoter shareholding in Mach Conferences And Events is likely to have now risen to 70.1% from 69.93% as on September 9, according to the shareholding pattern of the company.
Mach Conferences and Events IPO
Mach Conferences and Events shares made a strong stock market debut on September 11 as the stock was listed at ₹300 apiece on the BSE SME, a premium of 33.33% to the issue price of ₹225 per share
The initial public offering (IPO) of Mach Conferences and Events was open for subscription from September 4 to September 6. The issue received a robust 196.70 times subscription.
Mach Conferences and Events IPO was worth ₹125.28 crore, which comprised a combination of fresh issue of 22.29 lakh equity shares worth ₹50.15 crore and offer-for-sale (OFS) of 33.39 lakh shares totaling to ₹75.13 crore. The IPO price band was ₹214 to ₹225 per share.
Mach Conferences and Events shares are down around 10% from its listing price, but are up more than 20% from its issue price.
At 11:35 am, Mach Conferences and Events shares were trading 4.02% higher at ₹265.00 apiece on BSE SME.
Reference :
Reference link
