A Gurugram-based MICE and corporate event management company is raising Rs 38.12 crore through an NSE SME issue.
Eventions works in the Meetings, Incentives, Conferences and Exhibitions (MICE) and event management segment. It plans, coordinates and executes corporate events, conferences and related activities, mainly for corporate clients and institutions.
Depending on the engagement, its work covers venues, travel, accommodation, logistics and on-site execution. The company was incorporated in December 2020 and is based in Gurugram.
Work is typically awarded project by project, with clients hiring the company for specific programmes or events, and part of it comes from repeat business with existing corporate clients. Events range in scale and are held across India and at international destinations.
The company runs an asset-light model, working with hospitality providers, destination management companies, logistics partners and event production vendors to deliver programmes in multiple locations.
Across FY24, FY25 and FY26, it executed 107 events with individual billing above Rs 50 lakh, and it has served more than 50 corporate clients in sectors including banking, insurance, event management and FMCG.
Eventions also provides support services to other event management companies. When they need extra help on large, time-bound or multi-location assignments, it takes on specific parts of the work, such as logistics, coordination and on-ground execution.
These arrangements are project-specific and don’t involve long-term commitments. As of March 31, 2026, the company had 35 employees on its payroll.
Issue Details
| Particulars | Details |
|---|---|
| Issue Opens | September 30, 2026 |
| Issue Closes | October 5, 2026 |
| Allotment (expected) | October 6, 2026 |
| Listing | NSE SME Emerge |
| Listing Date (tentative) | October 8, 2026 |
| Issue Type | Book Built |
| Price Band | Rs 112 – Rs 118 per share |
| Face Value | Rs 10 |
| Issue Size | Rs 38.12 crore (32,30,400 shares, entirely fresh) |
| Lot Size | 1,200 shares |
| Min. Retail Application | 2,400 shares (2 lots) |
| Min. Retail Investment | Rs 2,83,200 |
| Post-IPO Market Cap | Rs 143.77 crore |
| IPO as % of Post-IPO Capital | 26.51% |
| Lead Manager | Corporate Professionals Capital Pvt Ltd |
| Market Maker | Aftertrade Broking Pvt Ltd |
| Registrar | Mudra RTA Ventures Pvt Ltd |
| Syndicate Member | Aftertrade Broking Pvt Ltd |
| Underwriting | 15% Corporate Professionals Capital, 85% MNM Stock Broking |
From the net proceeds, Eventions will use Rs 18.80 crore for working capital, Rs 7.00 crore to repay or prepay certain borrowings and Rs 1.40 crore to invest in its subsidiary, with the rest going to general corporate purposes.
Post-IPO, paid-up equity capital rises from Rs 8.95 crore (89,53,509 shares) to Rs 12.18 crore (1,21,83,909 shares).
Price Band
At the Rs 118 upper band, with FY26 earnings attributed to the fully diluted post-IPO equity, the issue is valued at a P/E of 18.61x, or 28.03x on FY25 earnings.
The P/BV is 5.64 on the March 31, 2026 NAV of Rs 20.92. The offer documents don’t include post-IPO NAV data. The post-IPO market cap is Rs 143.77 crore.
Analysts consider the issue exorbitantly priced and are saying avoid.
GMP
As per market channels, the Eventions IPO GMP is ₹0. That indicates a listing price of ₹118, flat to the upper band.
GMP is unofficial, unregulated and unendorsed.
Financial Performance
| Particulars (Rs cr) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 87.29 | 88.02 | 100.62 |
| Net Profit (PAT) | 3.29 | 5.13 | 7.72 |
| PAT Margin (%) | 3.77 | 5.82 | 7.67 |
| RoCE (%) | 88.51 | 68.31 | 48.76 |
Total income was Rs 87.29 crore in FY24 and Rs 88.02 crore in FY25, then rose to Rs 100.62 crore in FY26. Net profit rose from Rs 3.29 crore to Rs 5.13 crore and then Rs 7.72 crore, the highest so far. The PAT margin increased from 3.77% to 7.67% over the three years, while RoCE fell from 88.51% to 48.76%.
Trade receivables stood at Rs 29.87 crore as of March 31, 2026, against FY26 total income of Rs 100.62 crore. Over the last three fiscals, the company reported an average EPS of Rs 7.13 and an average RoNW of 68.75%. It hasn’t declared any dividends during the reported periods.
Peer Comparison
| Company | P/E (x) |
|---|---|
| Eventions (FY26, post-IPO) | 18.61 |
| Mach Conferences | NA |
| E-Factor Experiences | 11.9 |
Risks to Consider
Valuation. The issue is priced at 5.64 times pre-IPO book value and 28.03 times FY25 earnings, and analysts consider it exorbitantly priced.
Profit jump in the pre-IPO year. Total income was nearly flat between FY24 and FY25. In FY26, net profit rose to Rs 7.72 crore and the PAT margin climbed to 7.67%, from 3.77% in FY24.
High receivables. Trade receivables of Rs 29.87 crore as of March 31, 2026 compare with FY26 total income of Rs 100.62 crore, and Rs 18.80 crore of the proceeds is earmarked for working capital.
Project-based revenue. Revenue comes from individual events, with no long-term commitments, and depends on corporate spending on meetings, conferences and incentive programmes.
Dependence on vendors and competition. The asset-light model relies on hospitality providers, destination management companies, logistics partners and production vendors. The company operates in a highly competitive and fragmented segment.
This article is for informational purposes and is not personalised investment advice; investors should do their own due diligence or consult a SEBI-registered adviser before acting.
