Macfos IPO: Check Issue Date, IPO Price, Lot Size & Allotment

IPO Details

Bidding Dates

16 Feb '23 - 20 Feb '23

Minimum Investment

₹ 122,400 (1 Lot of 1200 shares)

Price Range

₹96 - ₹102

Maximum Investment

₹244,800 (2 Lot with 2400 shares)

Retail Discount

To be announced

Issue Size

23.74 Cr.

Investor category and sub category

Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Feb 16, 2023

IPO Close Date

Feb 20, 2023

IPO Allotment Date

Feb 23, 2023

Initiation Of Refunds

Feb 26, 2023

Credit Of Shares To Demat Account

Feb 27, 2023

IPO Listing Date

Feb 28, 2023

Macfos IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Feb 16, 2023	0.01	5.94	18.52	7.02
Day 2Feb 19, 2023	2.60	55.49	93.42	40.26
Day 3Feb 20, 2023	21.60	659.99	268.45	193.87

Macfos IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutions	21.60
Non-Institutional Buyers	659.99
Retail Investors	268.45
Employees	[.]
Others	[.]
Total	193.87

About Company

Macfos Ltd. is an e-commerce company with its own website as well as mobile application (Robu.in). The products sold on its platform primarily include special parts of robots, drones, e-bikes, IoT and wireless items, 3D printers, DIY learning kits, sensors, motors, motor drivers, batteries and chargers, pumps and other mechanical and electronic components.

The company operates a 7900 sq. ft. fulfilment centre in Pune, Maharashtra and also utilises third party logistics services. The company has seen over 83,000 customers placing orders numbering over 2 lakhs in FY 2021-22, that too from 28 states and 6 Union Territories.

Some of the more famous clients of Macfos include M&M, HAL, Tata Power Solar Systems Ltd., Central Electronics Engineering Research Institute, Pilani, Bharat Forge Ltd., Tata Communications Ltd., Wipro Enterprises Pvt. Ltd., ONGC and Schneider Electric India Private Limited etc.

The company promoters include Atul Maruti Dumre, Nileshkumar Purushottam Chavhan and Binod Prasad.

Macfos Ltd. IPO Objective

The primary objective is for the selling shareholders to earn cash from the share sale.

Why should you invest in Macfos Ltd. IPO

E-commerce is a growing industry in India and its reach is spreading fast into tier-2 and tier-3 cities. Given the three-pronged increase of digitisation of commerce and payments, increasing income and preference to buy standardised products from online platforms, it is great to buy stocks of an e-commerce company
A lot of e-commerce companies get too confused regarding what exactly it is trying to sell. Unlike such companies, Macfos is trying to build a niche for itself in a particular segment.
Since e-commerce can always be a global business, the scope for growth of the company is immense.
Increase in market cap of the company will allow it to raise more capital and cash, allowing an India-based e-commerce platform to grow. This in turn will allow Indian manufacturers to get better prices in both the Indian and global markets.

Macfos Ltd. noteworthy highlights

Their e-bike parts category consists of over a 100 items including e bike kits, motors & controllers, batteries etc.
Their drone parts category consists of over 850 items including frame & accessories, flight controller, transmitter & receiver, FPV Cameras, GPS and antennas etc.

Macfos Ltd. Company Financials

	Period ending 30th Sept, 2022	Period ending 31st March 2022	Profit After Period ending 31st March, 2021 Tax
Total Revenue	36.05 cr	55.87 cr	27.33 cr
Restated Profit after Tax	2.95 cr	6.01 cr	1.58 cr
Net increase/(decrease) in cash and cash equivalents	74.04 lakhs	81.73 lakhs	15.01 lakhs
Current Ratio	2:18	2:31	1:42
Long term borrowings	4.33 cr	2.97 cr	0.33 cr
Short term borrowings	5.04 cr	3.06 cr	3.16 cr

Know before investing

Strengths

Extensive and diverse portfolio of electronic equipment.
Growing retail and business customers.
Experienced promoters with domain knowledge.

Risks

The company is dependent on external vendors for sourcing their product requirements which exposes it to risks that are beyond its direct influence. They are also dependent on third party data centres for hosting facilities and other service providers.
The markets for hi-tech products like robots and drones change quite fast and the company may not be able to keep up with the pace of change.
Their revenues depend upon increasing the number of consumers of the products that they sell - this is something that is not easy to influence, especially in the case of niche electronic equipment.