Maxposure IPO: Check date, price band, GMP and other details
Media and entertainment services company Maxposure is all set to launch its initial public offering (IPO). The SME issue will open for subscirption on January 15, 2024 and closes on January 17, 2024.
According to primary market experts, the company has set the price band for its upcoming public issue at ₹31 to ₹33 per share, with a face value of ₹10 per share. It is book built issue of ₹20.26 and is entirely a fresh issue of 61.4 lakh shares.
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The minimum lot size for an application is 4000 shares. The minimum amount of investment required by retail investors is ₹132,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹264,000.
The allotment for the Maxposure IPO is expected to be finalized on Thursday, January 18, 2024. The shares will list on NSE SME with tentative listing date fixed as Monday, January 22, 2024.
GYR Capital Advisors Private Limited is the book running lead manager of the Maxposure IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Maxposure IPO is Giriraj Stock Broking.
Also read: IPO fund raising likely to surpass ₹4.15 lakh crore this year: Kotak Investment Banking
Around 50% of the issue is reserved for Qualified Institutional Buyers (QIB), Not less than 35% of the net issue is reserved for retail investors and not less than 15% of the net issue is reserved for HNIs.
Maxposure Limited is a company that provides personalized media and entertainment services across various platforms. They specialize in Inflight Entertainment, Content Marketing, Technology, and Advertising.
The Mumbai-based lab facility of the company offers a range of services, including custom editing, metadata creation, duplication, audio enhancement, encoding/transcoding in any format for any system, and post-production services.
Maxposure Limited’s revenue increased by 1.03% and profit after tax (PAT) rose by 1162.04% between the financial year ending with March 31, 2023 and March 31, 2022.
The Company proposes to utilize the Net Proceeds from the issue towards – Funding of expenses proposed to be incurred towards obtaining various certifications from the Federal Aviation Administration (“FAA”) and the European Union Aviation Safety Agency (“EASA”) for Wireless Streaming Server (“AeroHub”) and Patented Inviseo tray table (collectively referred to as the “Proposed Products”); funding working capital requirements of the companypfor manufacturing the proposed oroducts and the working capital requirements of the company in the ordinary course of business; prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and general corporate purposes.
Also read: RK Swamy gets SEBI approval to raise funds through IPO
Maxposure IPO GMP today
The shares of Maxposure IPO are available at a premium of ₹36 in the grey market premium, against the proposed IPO price of ₹33, on Wednesday, January 10.
This means that the shares are likely to list ₹69, which is 109% premium over the issue price.
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Published: 10 Jan 2024, 10:08 PM IST
