January 23, 2023
New Delhi, India
Maxposur IPO
Maxposure Limited, a diversified new-age media and entertainment firm, witnessed a stellar debut on Tuesday, January 23, as its Initial Public Offering (IPO) hit the market with overwhelming demand.
IPO Success and Premium Debut:
The Maxposure IPO, valued at ₹20.26 crore, garnered extraordinary attention during its subscription period from January 15 to 17. The subscription reached an astonishing 987.47 times, reflecting the robust confidence investors have in the company. The stock debuted at ₹145, an impressive 339.39% premium over the issue price of ₹33.
Subscription Breakdown:
Breaking down the subscription figures, the Non-Institutional Investors (NII) category led with an astounding 1,947.55 times oversubscription, followed closely by the retail category at 1,034.23 times. Even the Qualified Institutional Buyers (QIB) showed strong interest, with a subscription rate of 162.35 times.
Utilization of Funds:
The net proceeds from the IPO, earmarked at ₹145 per share, will be directed towards various avenues. These include funding expenses for certifications from regulators, catering to working capital requirements, debt repayment, and supporting general corporate purposes.
Company Profile and Services:
Maxposure is defined by its 360-degree services across various distribution platforms. Specializing in custom solutions, the company’s pillars encompass advertising, content marketing, technology, and in-flight entertainment. Prakash and Sweta Johari, the company’s promoters, have played a crucial role in Maxposure’s success.
Financial Growth:
Maxposure’s positive financial trajectory further fueled investor enthusiasm. Reports indicate a 1.03% increase in revenue and an astonishing 1162.04% rise in profit after tax (PAT) during the financial year ending March 31, 2023, compared to the previous year.
In summary, Maxposure’s IPO has proven to be a resounding success, with strong investor participation, an exceptional oversubscription rate, and a premium debut. The company’s robust financials and diverse service offerings position it as a promising entity in the new-age media and entertainment sector.
Disclaimer:
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