2 weeks ago
India Exposition Mart Files Draft Papers for IPO
India Exposition Mart wants to raise money by selling shares to the public.
It has submitted its initial IPO documents to India’s market regulator.
The IPO will include 75 lakh new shares.
Existing shareholders will also sell 23 lakh shares.
The company plans to spend Rs 63.8 crore on upgrading equipment and facilities.
It will spend another Rs 30.8 crore on exhibition-hall work and other company needs.
The company runs an exhibition and convention centre in Greater Noida.
Its centre is called India Expo Centre and Mart.
India Exposition Mart has filed preliminary IPO papers with the Securities and Exchange Board of India.
The proposed IPO includes a fresh issue of 75 lakh equity shares.
Existing shareholders, including Vectra Investments Private Limited, will offer 23 lakh shares for sale.
The company plans to use Rs 63.8 crore from the fresh issue to upgrade facilities at India Expo Centre and Mart.
Another Rs 30.8 crore will fund exhibition-hall renovations, construction of Hall 18 and general corporate purposes.
- Who
- India Exposition Mart Ltd, with existing shareholders including Vectra Investments Private Limited.
- What
- Filed preliminary papers for an IPO comprising a fresh issue of 75 lakh shares and an offer-for-sale of 23 lakh shares.
- Where
- The company is based in New Delhi and operates India Expo Centre and Mart in Greater Noida, Uttar Pradesh.
- When
- The draft red herring prospectus was filed on Monday.
- Why
- To raise funds for facility upgrades, exhibition-hall renovation, construction of Hall 18 and general corporate purposes.
Key facts
- Fresh issue
- 75 lakh equity shares
- Offer-for-sale
- 23 lakh shares by existing shareholders
- Facility upgrades
- Rs 63.8 crore
- Additional capital expenditure and corporate purposes
- Rs 30.8 crore
- Company founded
- Incorporated in 2001
- Operating brand
- India Expo Centre and Mart
- Business
- Integrated exhibition and convention centre services
Sources
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