New Delhi-based India Exposition Mart Ltd files DRHP for IPO

New Delhi-based India Exposition Mart Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

The IPO, with a face value of Rs 5 per equity share, comprises a fresh issue of up to 7,500,000 equity shares and an offer-for-sale (OFS) of up to 23,000,000 equity shares.

Individual selling shareholder includes Rakesh Kumar Sharma, Ravinder Kumar Passi and Meenakshi Passi, Vivek Vikas and Asha Ahlawat, Dinesh Kumar Aggarwal, Navratan Samdaria, Asha Goel, Esh Sharma, and Raj Kumar Malhotra.

Corporate selling shareholder includes Vectra Investments Private Limited, and MIL Vehicles & Technologies Private Limited. 

The proceeds from its fresh issuance worth Rs 63.8 crore will be utilized for funding capital expenditure requirements of the company for upgradation of air handling units, chillers, cooling towers, lifts and escalators, variable frequency drives and other ancillary works at India Expo Centre and Mar, and Rs 30.8 crore for funding capital expenditure requirements of the company for renovation of exhibition hall 4 and exhibition hall 6, and build-up of exhibition hall 18, at India Expo Centre and Mart, and general corporate purposes.

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).

Incorporated in 2001, the company is among the top four exhibition and convention venues in India in terms of the total area (Source: Crisil Report), with the objective of establishing infrastructure for hosting exhibitions, trade shows, conferences, and promotional and business events, among others, in India.

The company operates an integrated exhibition and convention centre under the brand name “India Expo Centre and Mart”, located in Greater Noida, Uttar Pradesh, India on a leasehold basis (“India Expo Centre and Mart”) and provide a comprehensive range of services across the meetings, incentives, conferences and exhibitions (“MICE”) ecosystem.

The foundation stone of India Expo Centre and Mart was laid in 2003 by then Hon’ble Deputy Prime Minister of India and inaugurated in 2006 by the then Hon’ble Prime Minister of India and has since developed into one of India’s largest integrated exhibition and convention centres, spanning 57 acres in Greater Noida, Uttar Pradesh, India (Source: Crisil Report).

In addition, the company operate ExpoInn, a guest-house situated within the same land parcel as their India Expo Centre and Mart and certified as 5-star by the Ministry of Tourism. The company also operate Plume, a hotel located adjacent to our India Expo Centre and Mart, on a leasehold basis, and Mor Stays, which they operate on a managed basis under which the company receive a monthly revenue share.

In terms of total exhibition space, the company is one of the largest exhibition venue providers in India and the largest privately owned exhibition and convention venue in the country (Source: Crisil Report).

The company have managed and organised 156 events and exhibitions during the last three Fiscals and have more than 45 confirmed bookings for forthcoming events and exhibitions, as on June 30, 2026.

The Indian MICE industry is predominantly driven by hotels, which account for the largest share of the market. Hotels: 65–68% Convention Centres: 30–32% Others including exhibition grounds, educational institutes etc, 2–3% (Source: Crisil Report).