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Propshop Events and Exhibitions Ltd IPO
Status: Current
Overview
IPO date
27 Jul 2026 to 29 Jul 2026
Face value
₹ 10 per share
Price
₹ 65 to ₹69 per share
Issue Size
4,140,000 shares
(aggregating up to ₹ 28.57 Cr)
(aggregating up to ₹ 28.57 Cr)
Allotment Date
30 Jul 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Miscellaneous
Unlock Stock of the Month
T&C*
Strengths vs Risks of Propshop Events and Exhibitions Ltd
Know the pros & cons
Strengths
- Established track record in a fragmented industry.
- Agile, asset-light business model enabling scalable growth.
- Global execution framework enabled by established practices and local integration.
- Brand-led booth design by skilled in-house marketing & branding team.
Risks
- The majority of the company's sales is concentrated in the states of Gujarat, Maharashtra and Karnataka. Any adverse developments affecting its operations in these states could have an adverse impact on the company's business, financial condition, results of operations and cash flows.
- The company is dependent on third-party outsourced subcontractors for providing its services.
- The company's Registered Office and Godown Facilities are located on leased premises. There may or may not be assurance that its will be able to retain or renew such leases on the same or similar terms, or that the company will find alternate locations for the existing offices on terms favorable to its, or at all.
- The company's funding requirements and the proposed deployment of the Net Proceeds of the Offer has not been appraised by any bank or financial institution are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company has witnessed negative cash flow from operating activities in the past. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company's ability to operates its business and the company's financial condition.
- The company has significant working capital requirements for its smooth day to day operations of business and discontinuance or the company's inability to acquires adequate working capital timely and on favourable terms may have an adverse effect on its operations, profitability and growth prospects.
- A significant portion of the company's domestic sales is derived from the West zone, any adverse developments in this market could adversely affect its business.
- The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
- The company's business is dependent on certain major customers, with whom its does not has firm commitment agreements. The loss of such customers, a significant reduction in purchase of services by such customers, or a lack of commercial success of a particular project of which the company is a supplier could adversely affect its business, results of operations and financial condition.
- Regulatory uncertainties arising from tariff impositions in India and other countries may contribute to heightened volatility in the Indian and international markets.
- Any delays and/or defaults in payments by customers could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operations and financial condition.
- The company's Promoters has extended personal guarantee in connection with some of its debt facilities to the company. There can be no assurance that such personal guarantee will be continued to be provided by the company's Promoters in future or can be called at any time, affecting the financial arrangements.
- The company's contingent liabilities as stated in its Restated Financial Statements could affect the company's financial condition.
- The company faces significant competition for skilled professionals, and its success depends in large part upon the company's ability to attract and retain these personnel. Any inability on its part to attract and retain the company's key managerial personnel and/or talented professionals may adversely affect its business and results of operations.
- Failures to protect the company's intellectual property could harm its ability to compete effectively.
- There has been some instances of delays in filing/incorrect filings in the past with the Registrar of Companies (RoC) and further the Company has not complied with certain statutory provisions of the Companies Act, 2013 and rules framed thereunder. Such non-compliances/lapses may attract penalties.
- The company has outstanding litigation against its, an adverse outcome of which may adversely affect the company's business, reputation and results of operations.
- There has been instances of delays in payment of statutory dues, i.e., ESIC and EPF by the Company. In case of any delay in payment of statutory dues in future by the Company, the Regulatory Authorities may impose monetary penalties on its or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
- The company's inability to collect receivables in time or at all and default in payment from its customers could result in this Reduction of the company's profits and affect its cash flows.
- The company is dependent on third party transportation providers for delivery of raw materials to the company's godown and/or event site from its suppliers. The company has not entered into any formal contracts with its transport providers and any failures on part of such service providers to meet their obligations could adversely affect the company's business, financial condition and results of operation.
- The Company has unsecured loans with a total outstanding amount of Rs. 117.99 Lakhs as of June 30, 2026, that may be recalled by the lenders at any time. In addition to its existing indebtedness for the company's existing operations, its may incur further indebtedness during the course of business. The company cannot assure that its would be able to service the company's existing and/or additional indebtedness.
- The company operates in a highly competitive environment. Any failures to compete effectively could harm its business, future prospects and financial stability.
- The company's insurance coverage may not adequately protect its against potential risks, leading to uninsured losses or losses exceeding the company's coverage, which could have a material adverse effect on its business.
- The Company's failure to maintain the quality standards of the service could adversely impact its business, results of operations and financial condition.
- The company is exposed to casualty that may occur during Events.
- Any inefficiencies in or failures of the company's billing and management information systems may adversely affect its business, financial condition and results of operations.
- The company relies on the availability of plywood, commercial ply, nylon carpet rolls, and other construction or finish items for the supply of these materials. The company does not has continuing or exclusive arrangements with any supplier, and the company's top 10 suppliers contribute 51.05% of its total supply costs for Fiscal Year ended March 31, 2025. The loss of key suppliers or delays in the deliveries could adversely impact the company's business, financial condition, results of operations, and cash flows.
- The company's business may expose its to potential service deficiency claims, which could adversely affect the company's results of operation, goodwill and the marketability of its services.
- The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of its business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if its faces failures of the company's information technology systems, its may not be able to compete effectively which may result in higher costs and would adversely affect the company's business and results of operations.
- The company's promoters were directors in other companies which are now struck off.
- The company has in past entered into related party transactions and its may continue to does so in the future.
- Conflict of interest may arise as the company's promoter group entity is authorized to carry on similar line of business as its Company which may lead to real or potential conflicts of interest for the company's Promoters or Directors.
- The company's directors hold Equity Shares in its Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by its, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- The company may faces difficulties in implementing its strategies including the company's expansion and diversification plans of entering new geographical areas, development and commercialization of new products.
- The company's success depends heavily upon its individual Promoters, Directors, KMPs and SMPs for their continuing services, strategic guidance, and financial support.
- The company's directors does not has any prior experience of being a director in any other listed company in India and this may present certain potential challenges for the Company and in the event of any material non-compliance where its directors are held liable and responsible, the company may has to appoint new directors.
- The company's inability to establish and maintain effective internal control systems, compliance frameworks, and mechanisms for tracking key operational and business metrics may have a material adverse effect on its business, results of operations, financial condition, and reputation.
- If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operates the company's business, it may have a material adverse effect on its business, results of operations and financial condition.
- The company may not be able to identify or effectively respond to evolving preferences, expectations or trends in a timely manner and a failures to derives the desired benefits from its services development efforts may impact the company's competitiveness and profitability.
- The company has not identified any alternate source of financing the "Objects of the Offer". If the company fails to mobilize resources as per the company's plans, its growth plans may be affected.
- The deployment of funds is entirely at the company's discretion and as per the details mentioned in the chapter titled "Objects of the Offer" on page 106 of this Red Herring Prospectus.
- This Red Herring Prospectus contains information from an industry report prepared by Dun & Bradstreet Information Services India Private Limited, commissioned by the company for the purpose of the Offer for an agreed fee.
- The company may requires additional equity or debt in the future in order to continue to grow its business, which may not be available on favourable terms or at all.
- The company's employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The average cost of acquisition of Equity Shares held by the company's Promoters could be lower than the Offer Price.
- The company has not paid any dividends in the past Financial Years. Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company may not be successful in implementing its business strategies.
- The company will continue to be controlled by its Promoters and Promoter Group after the completion of the Offer, which will allow them to influence the outcome of matters submitted for approval of the company's shareholders.
- The requirements of being a listed company may strain its resources.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Selling Shareholders shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by them in the Offer for Sale. Its Promoters is therefore interested in the Offer in connection with the Equity Shares offered by them in the Offer for Sale.
- The company's business is substantially affected by prevailing economic, political and other prevailing conditions in India.
- The company's Equity Shares has never been publicly traded, and after the Offer, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the Offer Price may not be indicative of the market price of the Equity Shares after the Offer.
- There are restrictions on daily/ weekly/ monthly movement in the price of the equity shares, which may adversely affect the Shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.
- QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Offer.
- Any future issuance of Equity Shares may dilute the shareholding of the Investors, or any sale of Equity Shares by the company's Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
Propshop Events and Exhibitions Ltd Peer Comparison
Understand the company’s industry standing
Propshop Events & Exhibitions Ltd
Exhicon Events Media Solutions Limited
Face Value
10
10
Standalone / Consolidated
Standalone
Consolidated
Total Income Rs. Cr.
51.5182
143.5122
EPS-Basis
6.09
20.06
EPS-Diluted
6.09
15.56
NAV Per Share
10.9
86.46
P/E-Basic EPS
---
27.31
P/E-Diluted EPS
---
---
RONW(%)
55.86
27
Latest NAV Period
---
---
Latest NAV
---
---
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The IPO opens on 27 Jul 2026 & closes on 29 Jul 2026.
'Propshop Events and Exhibitions Private Limited' was incorporated as a private limited Company on August 22, 2019 by Prathamesh Pusalkar in Mumbai, India. It was later converted into a public Limited Company, reflecting the change in name of the Company to Propshop Events and Exhibitions Limited' on February 10, 2025 via fresh certificate of incorporation issued by the Registrar of Companies, Mumbai. As of today, Company has grown into a full-fledged global enterprise, with strategic expansions marking the presence in key markets including India, Dubai, US, UK, Germany, and beyond.
Company carries business in Event Management and Exhibition Services. Their services extend from concept design and 3D visualization to project management, logistics, on-site supervision, fabrication, installation, and post-event dismantling support. The clientele consists of a diverse range of industries, including Industrial Machinery & Equipment, Building Materials, Furnishing and Décor, Chemicals, Media & Entertainment, Healthcare and Cosmetics, Food & Beverages, and more.
The Company engage subcontractors based on the specific needs of each project, with both partial and full subcontracting models employed as required. It also take on subcontracted work from other firms. Apart from these, Company operate from its registered office located in Mumbai, Maharashtra and two rented godown facilities located in Vasai, Maharashtra and Bengaluru, Karnataka, which serve as base for storage, logistics, and fabrication support within and around the regions.
Company is planning the aggregate issuance of 40,90,000 equity shares of face value of Rs 10 each, via IPO, comprising a fresh issue of 32,90,000 equity shares and 8,00,000 equity shares through offer for sale.
Propshop Events and Exhibitions Ltd IPO will close on 29 Jul 2026.
- Established track record in a fragmented industry.
- Agile, asset-light business model enabling scalable growth.
- Global execution framework enabled by established practices and local integration.
- Brand-led booth design by skilled in-house marketing & branding team.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Prathamesh Shantaram Pusalkar | 8468154 | 75 | 7968154 | 51.64 |
| 2 | Aarti Prathamesh Pusalkar | 2207842 | 19.55 | 1907842 | 12.36 |
- The majority of the company's sales is concentrated in the states of Gujarat, Maharashtra and Karnataka. Any adverse developments affecting its operations in these states could have an adverse impact on the company's business, financial condition, results of operations and cash flows.
- The company is dependent on third-party outsourced subcontractors for providing its services.
- The company's Registered Office and Godown Facilities are located on leased premises. There may or may not be assurance that its will be able to retain or renew such leases on the same or similar terms, or that the company will find alternate locations for the existing offices on terms favorable to its, or at all.
- The company's funding requirements and the proposed deployment of the Net Proceeds of the Offer has not been appraised by any bank or financial institution are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company has witnessed negative cash flow from operating activities in the past. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company's ability to operates its business and the company's financial condition.
- The company has significant working capital requirements for its smooth day to day operations of business and discontinuance or the company's inability to acquires adequate working capital timely and on favourable terms may have an adverse effect on its operations, profitability and growth prospects.
- A significant portion of the company's domestic sales is derived from the West zone, any adverse developments in this market could adversely affect its business.
- The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
- The company's business is dependent on certain major customers, with whom its does not has firm commitment agreements. The loss of such customers, a significant reduction in purchase of services by such customers, or a lack of commercial success of a particular project of which the company is a supplier could adversely affect its business, results of operations and financial condition.
- Regulatory uncertainties arising from tariff impositions in India and other countries may contribute to heightened volatility in the Indian and international markets.
- Any delays and/or defaults in payments by customers could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operations and financial condition.
- The company's Promoters has extended personal guarantee in connection with some of its debt facilities to the company. There can be no assurance that such personal guarantee will be continued to be provided by the company's Promoters in future or can be called at any time, affecting the financial arrangements.
- The company's contingent liabilities as stated in its Restated Financial Statements could affect the company's financial condition.
- The company faces significant competition for skilled professionals, and its success depends in large part upon the company's ability to attract and retain these personnel. Any inability on its part to attract and retain the company's key managerial personnel and/or talented professionals may adversely affect its business and results of operations.
- Failures to protect the company's intellectual property could harm its ability to compete effectively.
- There has been some instances of delays in filing/incorrect filings in the past with the Registrar of Companies (RoC) and further the Company has not complied with certain statutory provisions of the Companies Act, 2013 and rules framed thereunder. Such non-compliances/lapses may attract penalties.
- The company has outstanding litigation against its, an adverse outcome of which may adversely affect the company's business, reputation and results of operations.
- There has been instances of delays in payment of statutory dues, i.e., ESIC and EPF by the Company. In case of any delay in payment of statutory dues in future by the Company, the Regulatory Authorities may impose monetary penalties on its or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
- The company's inability to collect receivables in time or at all and default in payment from its customers could result in this Reduction of the company's profits and affect its cash flows.
- The company is dependent on third party transportation providers for delivery of raw materials to the company's godown and/or event site from its suppliers. The company has not entered into any formal contracts with its transport providers and any failures on part of such service providers to meet their obligations could adversely affect the company's business, financial condition and results of operation.
- The Company has unsecured loans with a total outstanding amount of Rs. 117.99 Lakhs as of June 30, 2026, that may be recalled by the lenders at any time. In addition to its existing indebtedness for the company's existing operations, its may incur further indebtedness during the course of business. The company cannot assure that its would be able to service the company's existing and/or additional indebtedness.
- The company operates in a highly competitive environment. Any failures to compete effectively could harm its business, future prospects and financial stability.
- The company's insurance coverage may not adequately protect its against potential risks, leading to uninsured losses or losses exceeding the company's coverage, which could have a material adverse effect on its business.
- The Company's failure to maintain the quality standards of the service could adversely impact its business, results of operations and financial condition.
- The company is exposed to casualty that may occur during Events.
- Any inefficiencies in or failures of the company's billing and management information systems may adversely affect its business, financial condition and results of operations.
- The company relies on the availability of plywood, commercial ply, nylon carpet rolls, and other construction or finish items for the supply of these materials. The company does not has continuing or exclusive arrangements with any supplier, and the company's top 10 suppliers contribute 51.05% of its total supply costs for Fiscal Year ended March 31, 2025. The loss of key suppliers or delays in the deliveries could adversely impact the company's business, financial condition, results of operations, and cash flows.
- The company's business may expose its to potential service deficiency claims, which could adversely affect the company's results of operation, goodwill and the marketability of its services.
- The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of its business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if its faces failures of the company's information technology systems, its may not be able to compete effectively which may result in higher costs and would adversely affect the company's business and results of operations.
- The company's promoters were directors in other companies which are now struck off.
- The company has in past entered into related party transactions and its may continue to does so in the future.
- Conflict of interest may arise as the company's promoter group entity is authorized to carry on similar line of business as its Company which may lead to real or potential conflicts of interest for the company's Promoters or Directors.
- The company's directors hold Equity Shares in its Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by its, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- The company may faces difficulties in implementing its strategies including the company's expansion and diversification plans of entering new geographical areas, development and commercialization of new products.
- The company's success depends heavily upon its individual Promoters, Directors, KMPs and SMPs for their continuing services, strategic guidance, and financial support.
- The company's directors does not has any prior experience of being a director in any other listed company in India and this may present certain potential challenges for the Company and in the event of any material non-compliance where its directors are held liable and responsible, the company may has to appoint new directors.
- The company's inability to establish and maintain effective internal control systems, compliance frameworks, and mechanisms for tracking key operational and business metrics may have a material adverse effect on its business, results of operations, financial condition, and reputation.
- If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operates the company's business, it may have a material adverse effect on its business, results of operations and financial condition.
- The company may not be able to identify or effectively respond to evolving preferences, expectations or trends in a timely manner and a failures to derives the desired benefits from its services development efforts may impact the company's competitiveness and profitability.
- The company has not identified any alternate source of financing the "Objects of the Offer". If the company fails to mobilize resources as per the company's plans, its growth plans may be affected.
- The deployment of funds is entirely at the company's discretion and as per the details mentioned in the chapter titled "Objects of the Offer" on page 106 of this Red Herring Prospectus.
- This Red Herring Prospectus contains information from an industry report prepared by Dun & Bradstreet Information Services India Private Limited, commissioned by the company for the purpose of the Offer for an agreed fee.
- The company may requires additional equity or debt in the future in order to continue to grow its business, which may not be available on favourable terms or at all.
- The company's employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The average cost of acquisition of Equity Shares held by the company's Promoters could be lower than the Offer Price.
- The company has not paid any dividends in the past Financial Years. Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company may not be successful in implementing its business strategies.
- The company will continue to be controlled by its Promoters and Promoter Group after the completion of the Offer, which will allow them to influence the outcome of matters submitted for approval of the company's shareholders.
- The requirements of being a listed company may strain its resources.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Selling Shareholders shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by them in the Offer for Sale. Its Promoters is therefore interested in the Offer in connection with the Equity Shares offered by them in the Offer for Sale.
- The company's business is substantially affected by prevailing economic, political and other prevailing conditions in India.
- The company's Equity Shares has never been publicly traded, and after the Offer, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the Offer Price may not be indicative of the market price of the Equity Shares after the Offer.
- There are restrictions on daily/ weekly/ monthly movement in the price of the equity shares, which may adversely affect the Shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.
- QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Offer.
- Any future issuance of Equity Shares may dilute the shareholding of the Investors, or any sale of Equity Shares by the company's Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
The Issue type of Propshop Events and Exhibitions Ltd is Book Building - SME.
The minimum application for shares of Propshop Events and Exhibitions Ltd is 4000.
The total shares issue of Propshop Events and Exhibitions Ltd is 4140000.
Initial public offering of up to 41,40,000* equity shares of face value of Rs. 10/- each ("Equity Shares") of Propshop Events And Exhibitions Limited ("Company" or the "Issuer") for cash at a price of Rs. 65-69 per equity share (Including a Share Premium Of Rs. 55-59 Per Equity Share) ("Offer Price") aggregating up to Rs. 26.91-28.57 Crores comprising a fresh issue of up to 33,40,000 equity shares aggregating up to Rs. 21.71-23.05 Crores by the company ("Fresh Issue") and an offer for sale of up to 8,00,000 equity shares aggregating up to Rs. 5.2-5.52 Crores (the "Offered Shares") comprising up to 5,00,000 equity shares by Prathamesh Shantaram Pusalkar aggregating up to Rs. 3.25-3.45 Crores and up to 3,00,000 equity shares by Aarti Prathamesh Pusalkar aggregating up to Rs. 1.95-2.07 Crores (the "Selling Shareholders" and such offer, the "Offer for Sale") (the "Offer For Sale" and together with the fresh issue,the "Offer") of which 2,16,000 equity shares aggregating to Rs. 1.40-1.49 Crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer, less market maker reservation, i.e. Net offer 39,24,000 equity shares of face value of Rs. 10/- each at price of Rs. 65-69 per equity share aggregating to Rs. 25.51-27.08 Crores is herein after referred to as the "Net Offer". The offer and the net offer will constitute 28.30% and 26.82% respectively of the fullydiluted post-offer paid-up equity share capital of the company. The face value of equity shares is Rs. 10/- each.
Price Band: Rs. 65/- to Rs. 69/- per equity share of face value of Rs. 10/- each.
The floor price 6.5 times of the face value and the cap price is 6.9 times of the face value.
Bids can be made for a minimum of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.