Maxposure IPO Stellar Debut with 339.39 Percent Premium

Maxposure IPO Stellar Debut with 339.39 Percent Premium

VoM News Desk | January 23, 2024 | 10:18 AM IST | Breaking News | Follow on Google News

Maxposure IPO Stellar Debut with 339.39 Percent Premium/PTI

Maxposure IPO Stellar Debut with 339.39 Percent Premium

Maxposure made a remarkable debut on January 23, listing at ₹145, representing an impressive 339.39% premium to the issue price of ₹33 on the NSE SME platform.

The ₹20.26 crore IPO, open for subscription from January 15-17, witnessed robust demand, becoming the most subscribed SME IPO in 2024 at 987.47 times.

The IPO comprised a fresh issue of 61,40,000 equity shares with a face value of ₹10 each, without any offer for sale. The price band was set at ₹31-33 per share, with a lot size of 4,000 shares.

Maxposure, a diverse new-age media and entertainment firm, offers 360-degree services across various distribution platforms. Its focus areas include advertising, content marketing, technology, and in-flight entertainment.

The net proceeds from the IPO will be utilized for various certifications, working capital, debt repayment, and general corporate purposes.

The company’s financial performance saw a notable increase, with revenue rising by 1.03% and profit after tax (PAT) surging by 1162.04% during the financial years ending in March 2023 and March 2022. The promoters of Maxposure are Prakash and Sweta Johari.

Analysts suggest that while the company shows promise, potential investors should carefully consider the sustainability of margins in the changing lifestyle and rising air travel scenarios.

The issue appears fully priced, and informed investors may find it suitable for medium to long-term investment with future trends influencing its success.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.