India Exposition Mart IPO: According to DRHP, under this IPO, fresh shares up to Rs 450 crore will be issued under this IPO.
India Exposition Mart IPO: There is good news for the people investing in IPO. The IPO of India Exposition Mart Limited (India Exposition Mart), a company providing integrated exhibition and convention venues, has received the approval of market regulator SEBI. The company wants to raise Rs 600 crore through this 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).
The company had filed papers related to the IPO with SEBI in March and it has received the observation letter on June 16. It is necessary for any company to obtain an observation letter from SEBI before bringing an IPO.
PM Modi Amid Agnipath Protests: PM Modi without saying the name of Agnipath, some reforms seem bad at first but later the country benefits
IPO related 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.
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. In addition, an amount of Rs 17 crore will be used for repayment of loans and other general corporate purposes.
Inox Green Energy Services will bring 740 crore IPO, papers filed with SEBI
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)
