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Noida-based India Exposition Mart Limited, the fourth largest integrated exhibitions and conventions venue, on Monday filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the market regulator SEBI.The initial share sale with a face value of Rs 5 per equity share comprises a fresh issue of equity shares aggregating up to Rs 450 crore and an offer-for-sale (OFS) of up to 11,210,659 equity shares by existing shareholders.The offer is being made through the Book Building Process, wherein note less than 75 per cent of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15 per cent of the Offer shall be available for allocation to Non-Institutional Bidders and not more than 10 per cent of the Offer shall be available for allocation to Retail Individual Bidders.As per industry sources, the company is likely to raise around Rs 600 crore through the IPO.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 be reduced.Of Rs 450 crore fresh issuance, the company is planning to use about Rs 316.91 crore for funding capital expenditure requirements for expansion of our existing infrastructure facilities, Rs 17 crore for the repayment or prepayment of borrowings, in full or part of all or certain borrowings for the company and for general corporate purposes.India Exposition Mart is one of India's major venue planners and providers, providing technology-driven, world-class facilities and safety standards for worldwide business-to-business exhibits, conferences, congresses, product launches, and promotional events, among other things.India Exposition Mart had revenues of Rs 13.30 crore in FY21 and for six months ended September 30, 2021, stood at Rs 10.66 crore which primarily includes income from space rent for fair and exhibitions of Rs 4.78 crore and income from maintenance services of Rs 5.77 crore.Emkay Global Financial Services Limited is the sole book-running lead manager and KFin Technologies Limited is the registrar to the offer.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Noida-based India Exposition Mart files DRHP for Rs 600 cr IPO

Noida-based India Exposition Mart Limited, the fourth largest integrated exhibitions and conventions venue, on Monday filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the market regulator SEBI. ...