Propshop Events & Exhibitions Limited

Here is the overview of Propshop Events & Exhibitions Limited along with its key fundamentals, live subscription details, and Grey Market Premium (GMP).

1. Company Overview & Business Profile

Incorporated in 2019 and headquartered in Mahim, Mumbai, Propshop Events & Exhibitions Limited provides end-to-end solutions for trade shows and exhibition booths.

  • Services Offerings: Custom-built and modular exhibition stalls, concept design, 3D visualization, project management, logistics, installation, fabrication supervision, and dismantling services.

  • Business Model: Follows an asset-light operational strategy. Concept development and designing are handled internally, while actual booth fabrication is managed through vendor networks and subcontractors.

  • Industry Exposure: Has delivered over 5,000 exhibition booths to 1,100+ clients across diverse industries including industrial machinery, building materials, healthcare, cosmetics, chemicals, and F&B.

  • Objects of the Issue: Proceeds from the fresh issue (~₹23.05 Cr) are allocated primarily toward funding working capital requirements (~₹15.5 Cr) and general corporate purposes.

2. Key Company Fundamentals & Financials

The company has shown significant top-line expansion and operational efficiency over the past three fiscal years:

Metric / Financial Indicator FY2023 FY2024 FY2025
Total Revenue ₹25.93 Cr ₹30.57 Cr ₹51.59 Cr
Profit After Tax (PAT) ₹0.97 Cr ₹2.19 Cr ₹6.32 Cr
Net Worth ₹1.05 Cr ₹4.17 Cr ₹11.32 Cr
Total Borrowings — ₹0.43 Cr ₹0.63 Cr
EBITDA Margin — — 14.93%
PAT Margin — — 10.81%
Return on Equity (ROE) — — 44.42%

Key Ratios & Valuation

  • P/E Ratio: ~12.32x (at the upper price band based on FY25 EPS)

  • Price-to-Book (P/B) Ratio: ~4.38x

  • Key Risks: Heavy reliance on unorganized subcontractors, revenue geographic concentration (Gujarat, Maharashtra, Karnataka), and seasonal cash flow patterns typical to trade show schedules.

3. IPO Key Details & Schedule

  • IPO Open Date: July 27, 2026

  • IPO Close Date: July 29, 2026

  • Basis of Allotment: July 30, 2026

  • Initiation of Refunds / Share Credit: July 31, 2026

  • Tentative Listing Date: August 3, 2026 (NSE SME Platform)

  • Price Band: ₹65 to ₹69 per equity share

  • Total Issue Size: ₹28.57 Crore (₹23.05 Cr Fresh Issue + ₹5.52 Cr Offer for Sale)

  • Lot Size & Retail Application: 2,000 shares per lot; minimum retail bidding is 2 lots (4,000 shares) = ₹2,76,000 (at upper band)

  • Book Running Lead Manager: Unistone Capital Pvt. Ltd.

  • Registrar: MUFG Intime India Pvt. Ltd.

4. Live Subscription Status

As of Day 2 (July 28, 2026), public interest in the issue remains slow:

  • Qualified Institutional Buyers (QIB): 0.00x

  • Non-Institutional Investors (NII / HNI): 0.00x

  • Retail Individual Investors (RII): ~0.04x

  • Overall Subscription: ~0.02x

5. Grey Market Premium (GMP)

  • Current Live GMP: ₹0 (0.00%)

  • Estimated Listing Price: ₹69 per share (Equal to the issue price band cap)

Note: Zero activity in the unofficial grey market indicates negligible demand for short-term listing gains. Investors looking at this issue usually focus on the underlying asset-light model and medium-to-long-term growth in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry.

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