India Exposition Mart Files DRHP With SEBI For IPO, Plans ₹94.6 Crore Capex
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India Exposition Mart has filed a DRHP with SEBI for an IPO comprising 75 lakh fresh shares and 2.3 crore shares in an OFS. It plans to use ₹94.6 crore for exhibition-centre upgrades and expansion.
India Exposition Mart, which operates the India Expo Centre and Mart in Greater Noida, has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for an initial public offering.
The proposed initial public offering (IPO) will include a fresh issue of up to 75 lakh equity shares and an offer for sale (OFS) of up to 2.3 crore shares by existing shareholders. The shares will have a face value of ₹5 each.
The OFS will include shares held by individual shareholders such as Rakesh Kumar Sharma, Ravinder Kumar Passi and Meenakshi Passi, along with corporate shareholders Vectra Investments and MIL Vehicles and Technologies.
How Will India Exposition Mart Use The IPO Proceeds?
The company plans to use ₹63.8 crore from the fresh issue for capital expenditure at India Expo Centre and Mart. The spending will cover upgrades to air handling units, chillers, cooling towers, lifts and escalators, variable frequency drives and other related works.
Another ₹30.8 crore is earmarked for the renovation of exhibition halls 4 and 6 and the development of exhibition hall 18. The remaining proceeds will be used for general corporate purposes.
The IPO will be offered through the book-building route. Up to 50% of the issue will be reserved for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail investors.
What Does India Exposition Mart Do?
India Exposition Mart operates the 57-acre India Expo Centre and Mart in Greater Noida on a leasehold basis. The venue provides exhibition and convention facilities across the meetings, incentives, conferences and exhibitions, or MICE, segment.
The company also operates hospitality assets around the venue, including ExpoInn, Plume and Mor Stays.
According to the CRISIL report cited in the DRHP, the company is among India's top four exhibition and convention venue providers by total area and is the country's largest privately owned exhibition and convention venue.
How Has India Exposition Mart Performed Financially?
As per the Economic Times report, India Exposition Mart's revenue from operations increased to ₹290.6 crore in FY26 from ₹194.7 crore in FY24. Net profit rose to ₹31.1 crore from ₹23.3 crore over the same period.
The company managed and organised 156 events and exhibitions over the last three financial years. As of 30 June 2026, it had more than 45 confirmed bookings for upcoming events and exhibitions.
The DRHP filing does not provide an IPO opening date or price band. Choice Capital Advisors has been named as the book-running lead manager, while KFin Technologies is the registrar to the issue.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
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