Propshop Events and Exhibitions Ltd IPO
Miscellaneous
Price Band
₹65 – ₹69
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹276000
Issue Size
₹28.57Cr
Opens
2026-07-27
Closes
2026-07-29
Listing
03-08-2026
Subscription Status
Qualified Institutional Buyers
1.37 x
Non-Institutional Investor
1.31 x
Retail Individual Investor
1.74 x
Total
1.49 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1FFX01018
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Propshop Events & Exhibitions Limited provides trade show and exhibition booth solutions, offering both custom-built and modular exhibition booths for business events and exhibitions. The company handles booth design and conceptualisation in-house and through project-based collaborations, while fabrication and related services are outsourced under its supervision. Its services include concept design, 3D visualisation, project management, logistics, on-site supervision, fabrication, installation, and post-event dismantling. The company serves clients across industries such as industrial machinery and equipment, building materials, furnishing and décor, chemicals, media and entertainment, healthcare, cosmetics, and food and beverages. Incorporated in 2019, the company operates from its registered office in Mumbai, Maharashtra, and has rented godown facilities in Vasai, Maharashtra, and Bengaluru, Karnataka, to support storage, logistics, and fabrication activities. It also rents temporary storage facilities near event venues when required and has operations across India as well as select international markets, including the US, the UK, Germany, Dubai, Singapore, and Spain.
Pros
- • The company has expanded its presence across multiple international exhibition markets in a relatively short period. Since its incorporation in 2019, it claims to have executed projects across countries including the US, UK, Germany, Dubai, Singapore, and Spain. The number of international markets served increased from 11 in FY23 to 17 in FY25.
- • The company claims to operate an asset-light business model that allows it to scale without significant investment in fixed assets. Instead of owning fabrication machinery and permanent facilities, it rents infrastructure and equipment on a project basis. This approach is intended to provide operational flexibility while optimising working capital and cash flows.
- • The company claims to have built a global execution network supported by local subcontractors and in-house project management. As of FY25, it had 36 active subcontractors globally and delivered 381 exhibition booths worldwide. It states that this model helps execute projects across different geographies while adapting to local regulations and market requirements.
Cons
- • The company’s domestic revenue is heavily concentrated in Gujarat, Maharashtra, and Karnataka, which together contributed Rs 36.05 crore (74.79%), Rs 24.26 crore (80.44%), and Rs 21.99 crore (85.40%) of its domestic revenue in FY25, FY24, and FY23, respectively. Any adverse economic, political, social, regulatory, or natural developments in these states could hurt the company’s business, financial condition, cash flows, and results of operations.
- • The company is significantly dependent on third-party subcontractors for executing its exhibition booth projects. Revenue generated through subcontracted work accounted for Rs 47.45 crore (92.11%), Rs 23.03 crore (75.48%), and Rs 16.68 crore (64.40%) in FY25, FY24, and FY23, respectively. Any failure by these subcontractors to meet quality standards, delivery timelines, or contractual obligations, or disruption in their services, could adversely affect the company’s operations, profitability, reputation, and financial performance.
- • The company reported negative cash flow from operating activities of Rs 0.09 crore in FY24, primarily due to changes in working capital, despite remaining positive in FY25 and FY23. According to the prospectus, the negative operating cash flow was mainly driven by higher working capital requirements. If the company continues to experience adverse working capital movements or negative operating cash flows in the future, it could affect its liquidity, business operations, growth plans, and financial condition.
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