Mach Conferences And Events Announces Initial Public Offering On BSE SME

New Delhi, Aug 31 (KNN) Mach Conferences and Events, a prominent player in the event management sector, has unveiled plans for an initial public offering (IPO) aimed at raising Rs 125 crore. 

The company intends to offer 55.68 lakh shares, with listing scheduled on the BSE SME platform.

The IPO structure comprises a fresh issue of 22.29 lakh shares alongside an offer for sale of 33.39 lakh shares. 

The price band has been set at Rs 214 to Rs 225 per share, with a minimum lot size of 600 equity shares.

Specialising in the MICE (Meetings, Incentives, Conferences, Exhibitions) segment, Mach Conferences and Events provides comprehensive event management solutions to leading corporate clients. 

The company has announced plans to expand into the retail holiday segment through the launch of bookmyyatra.com portal and venture into religious tourism.

Amit Bhatia, Chairman and Managing Director of Mach Conferences and Events, stated that the net proceeds from the IPO would be utilised to bolster the company's working capital, enabling it to bid for larger, high-value events.

The company's financial performance has shown significant growth. For the fiscal year 2024, Mach Conferences and Events reported a net profit of Rs 26 crore, a substantial increase from Rs 8 crore in FY 2023. 

Total income rose to Rs 239 crore from Rs 142 crore in the previous year, while EBITDA improved to Rs 35 crore from Rs 11 crore.

(KNN Bureau)