According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 450 crore will be issued under this IPO of India Exposition Mart.
India Exposition Mart IPO: India Exposition Mart Limited (India Exposition Mart), a company providing integrated exhibition and convention venue, is going to bring its IPO. The company has filed a draft paper with the market regulator SEBI for this. This Noida-based company wants to raise Rs 600 crore through IPO. According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 450 crore will be issued under this IPO. At the same time, 11,210,659 equity shares will be sold by the existing shareholders under the offer-for-sale (OFS).
IPO details
Share offerers under OFS include Vectra Investments, MIL Vehicles & Technologies, Overseas Carpet, RS Computech, Navratan Samdaria, Dinesh Kumar Agarwal and Pankaj Garg. According to market sources, the company can raise around Rs 600 crore through this IPO. The company may consider private placement of equity shares up to Rs 75 crore. If such a pre-IPO placement is done, the size of the fresh issue will be reduced.
Suraj Estate Developers will bring 500 crore IPO, documents filed with SEBI
Fund will be used here
Out of Rs 450 crore to be raised from new shares, Rs 316.91 crore will be used on capital expenditure for expansion of the company. Apart from this, an amount of Rs 17 crore will be used for repayment of loans and other general corporate purposes.
Titan breaks 13% from record high, buy cheap Rakesh Jhunjhunwala’s trusted stock, forecast for strong growth ahead
Know about the company
India Exposition Mart located in Greater Noida is one of the leading venue planners and providers in the country. The company provides technology-driven, world class facilities and safety standards for business exhibitions, conventions, conferences, product launches and promotional events across the globe. India Exposition Mart had a revenue of Rs 13.30 crore in FY21 and Rs 10.66 crore in the six months ended September 30, 2021. Emkay Global Financial Services is the sole book-running lead manager and Keffin Technologies is the registrar of the offer.
(Input-PTI)
,