Exhibition Venue Operator India Exposition Mart Moves Ahead With IPO Plans
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India Exposition Mart, operator of the India Expo Centre and Mart, has filed its DRHP with SEBI to raise funds through an IPO. The issue will include a fresh share sale and an offer for sale. Read ahead to know more.
India Exposition Mart, which runs the India Expo Centre and Mart in Greater Noida, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company operates the exhibition and convention centre on a leasehold basis.
The India Exposition Mart IPO will include 3.02 crore equity shares. Of these, 75 lakh shares will be issued fresh. Existing shareholders will sell up to 2.27 crore shares through an offer for sale (OFS).
The selling shareholders include Vectra Investments, MIL Vehicles & Technologies, Rakesh Kumar Sharma and Dinesh Kumar Aggarwal. The company filed the draft papers with SEBI on 17 August.
Issue Details And Business Scale
The fresh issue portion of the IPO will bring new capital directly into the company, while proceeds from the OFS will go to the selling shareholders rather than the company itself.
India Exposition Mart claims to be among the top four exhibition and convention venues in India by total area, offering services across the meetings, incentives, conferences and exhibitions ecosystem.
The company organised 156 events and exhibitions over the last three fiscal years and had more than 45 confirmed bookings for upcoming events as of 30 June 2026.
Use Of IPO Proceeds
According to the company, ₹63.8 crore from the net fresh issue proceeds will be used to upgrade air-handling units, chillers, cooling towers, lifts, escalators and variable-frequency drives, along with other ancillary works at the India Expo Centre and Mart.
A further ₹30.8 crore will go towards renovating Exhibition Hall 4 and Exhibition Hall 6, as well as building Exhibition Hall 18, while the remaining funds will be used for general corporate purposes.
Shareholding Pattern
India Exposition Mart is entirely owned by public shareholders, with Vectra Investments as the largest shareholder and corporate promoter, holding a 22.46% stake.
Greater Noida Industrial Development Authority, Vivek Vikas, Vikas Kumar Agarwal and Rakesh Kumar Sharma each hold stakes exceeding 2%.
Financial Performance
The company's financial performance has been mixed, with profit for the year ended March 2026 falling 21% to ₹31.6 crore from ₹40 crore in the previous year, even as revenue grew 20.5% to ₹290.6 crore from ₹241.2 crore over the same period.
Third-party events accounted for 56% of revenue in fiscal 2026, while owned intellectual properties contributed around 11% and hotels and hospitality made up 13.5% of revenue.
The company's shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with Choice Capital Advisors appointed as merchant banker for the issue.
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