India Expo Centre Operator Files IPO Papers for 75 Lakh Shares
· Business · Economic Times, LiveMint
India Exposition Mart, a New Delhi‑based operator of India Expo Centre and Mart in Greater Noida, has lodged a draft IPO prospectus with SEBI. The listing will issue up to 75 lakh fresh equity shares and allow existing shareholders to offer up to 2.3 crore shares for sale. Shares carry a face value of Rs 5 each and the IPO will be priced via a book‑building process, allocating at least 35% to retail investors. The fresh issue proceeds of Rs 63.8 crore will finance capital expenditure on air‑handling units, chillers, lifts, lifts, variable frequency drives and other ancillary works at the expo centre, while Rs 30.8 crore will fund renovation of exhibition halls 4 and 6 and construction of hall 18. Remaining proceeds will be used for general corporate purposes. The filing lists several individual and corporate shareholders, including Vectra Investments and MIL Vehicles and Technologies, who will sell shares in the offer for sale.
Why it matters
The IPO offers retail and institutional investors a chance to invest in a large exhibition venue that supports trade shows and conventions, and the capital raised will upgrade facilities that can improve event capacity and quality.
Read the original report — Economic Times
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