Mach Conference and Events plans to raise ₹125 crore by selling 55.68 lakh shares through initial public offering. The shares will be listed on BSE SME platform.
The issue of company, which provides comprehensive event management solution, includes fresh issue of 22.29 lakh shares and 33.39 lakh shares through offer for sale.
The issue is priced in the range of ₹214 to ₹225 a share and the lot size is fixed at 600 equity shares. The company operates in the MICE (meeting, incentives, conferences, exhibitions) segment offering services to leading corporates. The company plans to arranging holidays for retail segment with the launch of bookmyyatra.com portal and venture into religious tourism.
Amit Bhatia, Chairman and MD, Mach Conferences and Events said the company will use the net proceeds for working capital enabling the company to bid for larger and high-value events.
For FY’24, the company registered a net profit increased to ₹26 crore against ₹8 crore in FY’23. Income was up at ₹239 crore (₹142 crore). Ebitda was at ₹35 crore (₹11 crore).