The scrip was listed at Rs 96, a premium of 28% over the initial public offer (IPO) price. The stock is currently frozen in its lower limit of 5% over its listing price.

The counter hit a high of Rs 100.80 and a low of Rs 96. About 12.02 lakh shares of the company changed hands at the counter.

Macobs Technologies' IPO was subscribed 157.59 times. The issue opened for bidding on 16 July 2024 and it closed on 19 July 2024. The price band of the IPO was fixed at Rs 71 to Rs 75 per share.

The IPO comprised fresh issue of 25,95,200 shares. The company intends to utilize the net proceeds for customer acquisition - marketing & awareness, prepayment or repayment of a portion of certain outstanding borrowings, working capital requirements, general corporate purposes and to meet the issue expenses.

Ahead of the IPO, Macobs Technologies on 15 July 2024, raised Rs 3.32 crore from anchor investors. The board allotted 4.43 lakh shares at Rs 87 per share to 3 anchor investor.

Macobs Technologies is an online men's grooming company focusing on below-the-belt care. They sell products like trimmers and hygiene items specifically designed for men, and operate solely through their website Menhood.in. With 15 employees, they've carved a niche in the male grooming market through e-commerce.

The company recorded revenue from operations of Rs 20.61 crore and net profit of Rs 2.21 crore for the period as on 31 March 2024.