The Offer for Sale includes sale of equity shares up to 30.04 lakh equity shares by Amit Bhatia, and up to 3.34 lakh equity shares by Laveena Bhatia.
FinTech BizNews Service
Mumbai, July 26, 2024: Delhi-based Event Management Company Mach Conferences and Events Limited providing comprehensive array of services for MICE (Meeting, Incentives, Conferences, Exhibitions) and Events sector, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO) on the SME platform of BSE Limited (BSE SME).
The IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of up to 22.29 lakh equity shares and an offer of sale up to 33.39 lakh equity shares by Promoters. The offer also includes a reservation for a subscription by market makers in the market maker reservation portion.
The Offer for Sale includes sale of equity shares up to 30.04 lakh equity shares by Amit Bhatia, and up to 3.34 lakh equity shares by Laveena Bhatia.
The issue is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional investors, and not less than 35% of the net offer shall be available for allocation to retail individual investors.
The proceeds from its fresh issuance to the extent of Rs 33.26 crore for meeting the working capital requirement and general corporate purpose.
Mach Conferences and Events Ltd were founded under the leadership of Amit Bhatia and Laveena Bhatia, specializing in conference management, exhibition management, and global event planning. The company handles all logistical aspects of events at various destinations, including venue selection, accommodation arrangements, transportation logistics, local activities, and on-site coordination. It has a team of MICE (Meetings, Incentives, Conferences, and Exhibitions) and Events professionals dedicated to attention to detail; continuous budget control, and boundless creativity, helping clients explore new venues and innovative ways to impress their attendees.
The company provides comprehensive services for corporate meetings, conferences, trade shows, and other gatherings, ensuring seamless planning, execution, and coordination, serving clients from the Banking, Finance, and Insurance sectors, it has also worked with various other industries including hospitality, infrastructure, and FMCG. Over the past three years, Mach Conferences and Events Ltd has successfully completed 90 events in locations such as London, Mussoorie, Bangalore, South Korea, Paris, Goa, Srinagar, and Singapore. The average revenue for each event in FY 2023-24 was ₹ 263.62 lakhs.
Currently, it focuses on B2B customers, the company plans to expand into the B2C segment with the launch of a travel portal, “BookMyYatra.com,” aiming to leverage its existing customer base and broaden its market reach. Additionally, the company is looking to diversify its services into religious tourism, recognizing the blend of spirituality, economic opportunity, and cultural stewardship that makes investing in this sector both a wise business decision and a meaningful contribution to India's tourism landscape.
Mach Conferences and Events Ltd has a presence in over 18 states and union territories, including Delhi, Maharashtra, Kolkata, Assam, Tamil Nadu, Jammu & Kashmir, Himachal Pradesh, Goa, and Rajasthan.
Mach Conference’s revenue from operations increased 67.92% to Rs 237.26 crore in fiscal 2024 from Rs 141.29 crore in fiscal 2023. Profit after tax increased more than two times to Rs 26.18 crore in fiscal 2024 from Rs 8.81 crore in fiscal 2023.
Beeline Capital Advisors Private Limited is the sole book running lead manager, and Skyline Financial Services Private Limited is the registrar of the issue.
