Home IPO india exposition mart ipo: Noida-based India Exposition Mart gets Sebi nod for IPO

india exposition mart ipo: Noida-based India Exposition Mart gets Sebi nod for IPO

by Chris Williams
New Delhi: India Exposition Mart has received capital market regulator Sebi’s nod to raise funds through an initial public offering (IPO). The Noida-based firm is a venue planner in India with the fourth-largest integrated exhibitions and conventions venue.

The initial share sale comprises a fresh issue of equity shares aggregating up to Rs 450 crore, with a face value of Rs 5 each and an offer-for-sale (OFS) of up to 11,210,659 equity shares by existing shareholders.

The company may consider a private placement of equity shares aggregating up to Rs 75 crore. If such pre-IPO placement is undertaken, the fresh issue size will reduce.

The net proceeds from the fresh issue will be utilised towards funding capital expenditure requirements, expansion of existing infrastructure facilities, repayment/ prepayment of borrowings and general corporate purposes.

India Exposition Mart provides technology-driven facilities and safety standards for worldwide business-to-business exhibits, conferences, congresses, product launches, and promotional events, among other things.

Located in Greater Noida, it is stretched across 58 acres, with a building complex of 2,34,453.29 square metres. The venue planner has approximately 15 years of experience managing and organising exhibitions and trade fairs.

It has hosted an average of 170 events in the last five fiscal years including the Indian Handicrafts and Gifts Fair, Elecrama, Auto Expo – The Motor Show, CPHI&P-MEC, and Print Pack.

As of December 31, 2021, India Exposition Mart had an order book aggregating to Rs 1,21.52 crore from various exhibitions. The company faces intense competition across its market segments.

India Exposition Mart reported a revenue of Rs 13.30 crore in the financial year 2020-21 and for the six months ended September 30, 2021, revenue stood at Rs 10.66 crore, primarily including income from space rent for fairs and exhibitions.

The company has reserved 75 per cent of equity shares for the qualified institutional buyers, whereas 15 per cent of the equity shares for the non-institutional buyers. The remaining 10 per cent of the offer shall be available for retail buyers.

Emkay Global Financial Services is the sole book-running lead manager and Kfin Technologies Limited is the registrar to the offer.

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