India Exposition Mart files IPO papers with SEBI
The IPO comprises a fresh issue of up to 75 lakh shares and an offer-for-sale (OFS) of up to 2.3 crore shares by selling shareholders
India Exposition Mart Ltd, a New Delhi-based company, has submitted its draft red herring prospectus to the Securities and Exchange Board of India (SEBI) to initiate an initial public offering (IPO). The IPO includes a potential fresh issue of shares up to 75 lakh and an offer-for-sale (OFS) of up to 2.3 crore shares from existing selling shareholders.
The funds raised from the fresh shares, valued at ₹63.8 crore, will be used for upgrading various systems at India Expo Centre and Mart, while the other ₹30.8 crore will be allocated for renovating exhibition halls 4 and 6, and expanding exhibition hall 18. Founded in Greater Noida, Uttar Pradesh, the company operates an integrated exhibition and convention center under the name "India Expo Centre and Mart".
Since the last three fiscal years, the company has handled and organized 156 events and exhibitions, with over 45 confirmed bookings for future events. The shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Choice Capital Advisors has been appointed as the merchant banker for the IPO.
Investors are required to provide comments in English, using full sentences, and in a respectful manner, adhering to the community guidelines. The company's IPO process is now being facilitated through a new commenting platform.
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