Propshop Events and Exhibitions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 1.22×
- Big non-institutionalbNII · above ₹10 lakh
- 0.90×
- Small non-institutionalsNII · ₹2–10 lakh
- 1.22×
- Retail individualRII · up to ₹2 lakh
- 1.52×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 03 Aug 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 02 Aug 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 01 Aug 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 31 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 30 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 29 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
| 28 Jul 2026 | ₹0 | — | ₹0 | — | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 27 Jul 2026 – 29 Jul 2026
- Listing date
- 03 Aug 2026
- Face value
- ₹10 per share
- Price band
- ₹65 – ₹69
- Issue price
- ₹69 per share
- Lot size
- 2,000 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹28.57 Cr
- Fresh issue
- ₹21.56 Cr 31,24,000 shares
- Offer for sale
- ₹5.52 Cr 8,00,000 shares
- Market cap at offer price
- ₹101 Cr
- Promoter holding
- 94.55% → 67.50% pre-issue → post-issue
- ISIN
- INE1FFX01018
- CIN
- U92490MH2019PLC329470
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Unistone Capital Pvt.Ltd.
- Registered office
- 18E AC Shed, Plot No. 837, TPS 3, Mori Road, Mahim West, Mahim, Mumbai - 400016, Maharashtra, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 11,82,000 | 30.12% | 28.55% |
| Anchor investor · within QIB | 0 | — | 0.00% |
| NII (HNI) | 12,06,000 | 30.73% | 29.13% |
| bNII > ₹10L · within NII | 8,04,000 | — | 19.42% |
| sNII < ₹10L · within NII | 4,02,000 | — | 9.71% |
| Retail (RII) | 15,36,000 | 39.14% | 37.10% |
| Employee | 0 | — | 0.00% |
| Market maker | 2,16,000 | — | 5.22% |
| Total issue | 41,40,000 | — | 100.00% |
Net offer to the public of 39,24,000 shares, out of a total issue of 41,40,000. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 2,000 shares per lot, in multiples, at ₹69
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,38,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,76,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,66,000 |
| B-HNI (min) | 8 | 16,000 | ₹11,04,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹69 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.60 | 4.82 |
| P/E (×) | 12.32 | 14.32 |
| Price to book (×) | 4.38 | — |
| Market cap | — | ₹101 Cr |
Key performance indicators
Latest reported period, standalone
- Return on net worth
- 55.86%
- ROCE
- 74.14%
- Debt / equity
- 0.06
- PAT margin
- 12.27%
- EBITDA margin
- 16.60%
- NAV per share
- ₹10.9
- Price to book
- 4.38
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Standalone ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 59.94 | 51.59 | 30.57 |
| Revenue from operations | 59.81 | 51.52 | 30.51 |
| Other income | 0.14 | 0.07 | 0.05 |
| Total expenses | 51.08 | 43.16 | 27.62 |
| Operating profit | 8.86 | 8.43 | 2.95 |
| Operating margin | 14.78% | 16.34% | 9.65% |
| Profit before tax | 8.86 | 8.42 | 2.95 |
| Profit after tax | 6.46 | 6.32 | 2.19 |
| PAT margin | 10.78% | 12.25% | 7.16% |
| Balance sheet | |||
| Total assets | 25.71 | 18.46 | 11.1 |
| Current assets | 25.22 | 18.17 | 10.94 |
| Current liabilities | 7.7 | 6.99 | 6.85 |
| Total liabilities | 7.92 | 7.14 | 6.94 |
| Net worth | 17.78 | 11.32 | 4.17 |
| Current ratio | 3.28× | 2.60× | 1.60× |
| Return on equity | 36.33% | 55.83% | 52.52% |
| Cash flow | |||
| Operating cash flow | 2.25 | 0.14 | -0.09 |
| Investing cash flow | -0.14 | -1.55 | -0.44 |
| Financing cash flow | -0.78 | 0.87 | 1.2 |
| Net cash flow | 1.33 | -0.54 | 0.67 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding working capital requirements of the Company ₹16.62 Cr
The company proposes to utilize funds to enhance operational capabilities and expand into higher-margin verticals in the event management industry. This includes strengthening working capital base to manage multiple concurrent projects, pre-event preparations, vendor advances, material procurement, and logistics under compressed timelines.
2 General Corporate Purposes —
The company proposes to deploy funds towards general corporate purposes including business development initiatives, meeting expenses such as salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes and duties, and similar expenses incurred in ordinary course of business.
1 of 2 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
Selling shareholders
Existing holders selling into the offer — these proceeds go to the seller, not to the company
| Seller | Capacity | Shares offered | Avg. cost |
|---|---|---|---|
| Prathamesh Shantaram Pusalkar | Promoter | 5,00,000 | ₹0.03 |
| Aarti Prathamesh Pusalkar | Promoter | 3,00,000 | ₹7.03 |
2 sellers offering 8,00,000 shares.
About Propshop Events and Exhibitions
Propshop Events and Exhibitions Limited is an India-based company incorporated on August 22, 2019, and converted to a public limited company in February 2025. The company is engaged in the business of trade show and exhibition booth solutions, offering both custom-built and modular exhibition options. Services span the entire project lifecycle from concept design and 3D visualization to fabrication, logistics, on-site supervision, installation, and post-event dismantling support. The company serves clients across Industrial Machinery & Equipment, Building Materials, Furnishing and Décor, Chemicals, Media & Entertainment, Healthcare, Cosmetics, and Food & Beverages sectors. With over 12 years of experience and a physical presence in India with working relationships across global exhibition hubs (US, UK, Dubai, Germany, Spain, Singapore), the company executes both B2B and B2C-focused events, providing end-to-end booth services adapted to specific regional needs, branding goals, and regulatory requirements.
Management
Prathamesh Shantaram Pusalkar
MD
Shreyas Shrikant Rumade
COO
Aarti Prathamesh Pusalkar
Director
Ajay Jangir
Director
Bhavesh Rameshkumar Jain
Director
Priyanka Akshat Lad
CFO
Saloni Priyank Doshi
Director of Operations
Muthumani Thangadurai Nadar
VP of Sales
Tushar Sudhakar Khanvilkar
VP of Sales
Strengths
As stated in the offer document
Established track record in a fragmented industry
The company has successfully executed over 5,000 exhibition stands for more than 1,100 clients with an in-house team of 100+ professionals, establishing itself as a structured and process-driven service provider in the traditionally unorganised exhibition sector.
Agile, asset-light business model enabling scalable growth
The company operates an asset-light model with strategic rental of godowns and equipment, enabling a CAGR of 30.13% over 2 years in booths delivered globally and 245% growth in international clientele from 20 to 69 clients.
Global execution framework enabled by established practices and local integration
The company operates with over 100 trained professionals and maintains a hybrid delivery model combining in-house capabilities with a curated network of 53 active subcontractors globally, serving 24 international markets.
Brand-led booth design by skilled in-house marketing & branding team
The company integrates marketing strategy with creative spatial design through its in-house marketing and branding team, creating booth experiences that serve as immersive brand environments beyond traditional fabrication.
Strong financial foundation for future growth
The company achieved revenue CAGR of 41.70% from ₹2,591.09 lakhs in FY2023 to ₹5,151.82 lakhs in FY2025, with PAT growing at CAGR of 157.10% and margins improving from 3.74% to 12.28%.
Experienced Promoters and senior management team
The company is led by Promoter Prathamesh Pusalkar with over one decade of experience in marketing and project management, supported by co-promoter Aarti Pusalkar with 11+ years in HR and Administration.
Risk factors
As stated in the offer document
Geographic Revenue Concentration Risk
The company's sales are heavily concentrated in Gujarat, Maharashtra and Karnataka, representing 68.21% of revenue for the period ended February 28, 2026. Any adverse developments in these states could significantly impact the company's business operations and financial performance.
Dependency on Third-Party Subcontractors
The company outsources 90.89% of its services through subcontractors without formal agreements, exposing it to quality, delivery and cost risks. Any failure by subcontractors to meet standards or timelines could damage the company's reputation and client relationships.
Leased Premises Dependency
The company operates its registered office and godown facilities on leased premises with short-term agreements. Inability to renew leases or find alternative locations could disrupt operations and increase costs significantly.
Negative Cash Flow from Operations
The company experienced negative cash flows from operating activities in Fiscal 2024 (₹9.34 lakhs). Continued negative cash flows could materially impact the company's ability to operate and implement growth plans.
Significant Working Capital Requirements
The company's net working capital requirements increased from ₹91.53 lakhs in FY2023 to ₹1,597.39 lakhs in February 2026. Inability to secure adequate working capital financing could adversely affect operations and growth prospects.
Customer Concentration Risk
The company's top 10 customers represent 22.66% of total revenue without firm commitment agreements, relying only on purchase orders. Loss of key customers or significant reduction in their demand could adversely affect business performance.
Counterparty Credit Risk
The company faces significant credit risk with trade receivables of ₹911.22 lakhs as of February 28, 2026. Delays in payment collection or customer defaults could materially impact cash flows and operations.
Regulatory and Tariff Uncertainties
The company derives 32.26% of export revenue from the United States, making it vulnerable to tariff impositions and trade policy changes. Such regulatory uncertainties could reduce competitiveness and adversely impact demand.
Unsecured Loan Recall Risk
The company has ₹117.99 lakhs in outstanding unsecured loans as of June 30, 2026, which may be recalled by lenders at any time. Such recalls could force the company to seek alternative financing on unfavorable terms or affect liquidity.
Supplier Dependency and Material Cost Volatility
The company's top 10 suppliers contribute 51.05% of total supply costs without long-term agreements. Material price volatility and supply disruptions could significantly impact profitability and operational capabilities.
Company Analysis
from DRHPPropshop is a trade show and exhibition booth solutions provider offering custom-built and modular exhibition stands for international MICE (Meetings, Incentives, Conferences & Exhibitions) events across B2B and B2C sectors.
Propshop Events and Exhibitions Limited is an India-based company incorporated on August 22, 2019, and converted to a public limited company in February 2025. The company is engaged in the business of trade show and exhibition booth solutions, offering both custom-built and modular exhibition options. Services span the entire project lifecycle from concept design and 3D visualization to fabrication, logistics, on-site supervision, installation, and post-event dismantling support. The company serves clients across Industrial Machinery & Equipment, Building Materials, Furnishing and Décor, Chemicals, Media & Entertainment, Healthcare, Cosmetics, and Food & Beverages sectors. With over 12 years of experience and a physical presence in India with working relationships across global exhibition hubs (US, UK, Dubai, Germany, Spain, Singapore), the company executes both B2B and B2C-focused events, providing end-to-end booth services adapted to specific regional needs, branding goals, and regulatory requirements.
Objects of the Issue
- Funding working capital requirements of the Company ₹1,550.00 Lakhs p.110
- General corporate purposes [●] p.110
Issue Structure
- Total Issue
- Up to 40,90,000 Equity Shares aggregating up to ₹ [●] Lakhs
- Fresh Issue
- Up to 32,90,000 Equity Shares aggregating up to ₹ [●] Lakhs
- Offer for Sale
- Up to 8,00,000 Equity Shares aggregating up to ₹ [●] Lakhs
- Price Band
- ₹ [●] per Equity Share (Floor Price) to ₹ [●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue through providing exhibition booth solutions including design, fabrication, logistics, installation, and on-site supervision. Revenue is generated from both custom-built exhibitions (unique, one-time structures) and modular exhibitions (reusable, adaptable stand solutions offered under its 'Exhibit365' offering). The business operates on a project-based model with clients placing purchase orders; the company outsources booth fabrication while handling design, conceptualization, and project management in-house.
Business Segments
SWOT Analysis
- • Over 12 years of execution experience in MICE industry with global reach(p.31)
- • Diversified customer base across multiple industries reduces dependence on single sector(p.31)
- • Both custom-built and modular exhibition solutions offering flexibility to clients(p.31)
- • End-to-end service capability from design to post-event support(p.31)
- • Significant dependence on third-party outsourced subcontractors for booth fabrication(p.39)
- • Concentration of revenue in three states (Gujarat, Maharashtra, Karnataka)(p.43)
- • High dependence on top 10 customers representing significant revenue concentration(p.45)
- • No formal long-term agreements with suppliers, exposed to supply chain risks(p.61)
- • Absence of insurance coverage during Fiscal Years 2023 and 2024(p.59)
- • Negative cash flow from operating activities in past years(p.43)
- • Significant working capital requirements increasing substantially(p.43)
- • Expansion into full-fledged event solutions provider beyond execution services(p.117)
- • MICE industry growth driven by business travel and globalization trends(p.157)
- • Government infrastructure investments supporting exhibition ecosystem development(p.159)
- • India positioned as emerging MICE destination with G20 success(p.159)
- • Increasing demand for experiential marketing and immersive brand experiences(p.153)
- • Global tariff uncertainties and US trade policies impacting international business(p.46)
- • Global economic slowdown affecting business travel and MICE participation(p.73)
- • Intense competition in exhibition booth solutions market(p.59)
- • Volatility in raw material prices (plywood, commercial ply, nylon carpet rolls)(p.61)
- • Geopolitical uncertainties and potential disruption to international travel(p.75)
- • Regulatory changes and compliance requirements in exhibitions industry(p.203)
- • Cyclicality and demand fluctuations based on global economic conditions(p.34)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Prathamesh Shantaram Pusalkar | Promoter | 75.00% | — |
| Aarti Prathamesh Pusalkar | Promoter | 19.55% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.