- Price band
- ₹112 – ₹118
- Issue size
- ₹38.12 Cr
- Lot size
- 1200 sh
- Bidding
- 30 Sep – 5 Oct
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 8 Oct 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
The question this issue poses
In one sentence
Eventions Limited was incorporated in Gurugram in December 2020 and plans and runs corporate events and MICE programmes; the record describes MICE work as 91.77% of FY25 revenue and puts headcount at 35 as of 31 March 2026. Revenue was Rs 41.60 Cr in FY23 and Rs 99.74 Cr in FY26, while EBITDA was Rs 1.78 Cr and Rs 10.19 Cr in those same years — margins of 4.28% and 10.22% respectively. The Rs 38.12 Cr issue was entirely fresh, with no offer for sale, priced at a band of Rs 112-118, and was subscribed 2.39 times overall on day three. It listed on NSE Emerge at Rs 111 against a band top of Rs 118, closed day one at Rs 105.45 and last traded at Rs 60 on 23 October 2026.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Eventions, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2020 · Gurugram, Haryana · 35 employees
Eventions Limited plans and runs corporate events and MICE programmes — meetings, incentives, conferences and exhibitions — for Indian corporate and institutional clients. A client hires it for a specific programme: an annual conference, a dealer or distributor meet, an employee incentive trip, or a brand activation. Eventions books the venue, arranges travel and accommodation, manages logistics and staffs the event on site, at destinations across India and abroad. It owns none of that infrastructure, contracting hotels, airlines, destination management companies, transport providers and production vendors for each job. MICE work supplied 91.77% of revenue in FY25, with standalone events most of the rest. The company was incorporated in Gurugram in December 2020 and had 35 employees as of March 31, 2026. A subsidiary, Gantu Online Private Limited, sells consumer travel bookings.
Revenue is the billed value of each event, booked against purchase orders and work orders rather than long-term contracts, so visibility resets with every assignment. Because Eventions subcontracts almost everything, bought-in cost dominates: cost of services was ₹73.54 crore of ₹87.53 crore of FY25 revenue from operations, leaving an 8.10% EBITDA margin that year, improving to 10.22% in FY26. The structural strain is working capital — vendors and venues require advances before an event, clients pay after it, and ₹18.80 crore of the issue proceeds was earmarked for working capital. Concentration is severe: one customer was 52.07% of revenue in the six months to September 30, 2025, and the top ten 93.90%.
The company on paper
- Legal name
- Eventions Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 15 Dec 2020
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U92190HR2020PLC091592
- Sector
- Consumer Discretionary · MICE and corporate event management services
- Employees
- 35
- Registered office
- Gurugram, Haryana
- Promoters
- Cristoo Arora, Ravi Rajak
- Promoter holding, pre-issue
- 100.0%
- Promoter holding, post-issue
- 73.5%
- Website
- eventions.in
The numbers
Financial performance
Revenue has compounded at 33.8% a year across the 4 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹38.12 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹38.12 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,62,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 26.5% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹118.00
- Listed at
- ₹111.00
- Listing gain
- down 5.9%
- Since listing
- down 49.3%
- Against the issue price
- down 52.3%
Trading at ₹56.30 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 2,400
- At cut-off price
- ₹118.00
- Amount blocked
- ₹2,83,200
One lot is 1200 shares at ₹1,41,600. This issue requires a minimum of 2 lots, so the smallest application is ₹2,83,200. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~72%
chance of one lot, per application
- Retail subscription
- 1.38×
- Applicants per share available
- 1.4× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹111.00
listed at, −5.9% against the issue price
- Issue price
- ₹118.00
- Premium said
- —
- If allotted 1200 shares
- −₹8,400
Listing-day figures are as reported by the exchanges.
Our read
The case for and against
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
What works
- Revenue rose in each year after FY23: Rs 41.60 Cr in FY23, Rs 86.57 Cr in FY24 (up 108.10%), Rs 87.53 Cr in FY25 (up 1.11%) and Rs 99.74 Cr in FY26 (up 13.95%).
- EBITDA margin was 4.28% in FY23 (Rs 1.78 Cr on Rs 41.60 Cr) and widened in each year after: 4.77% in FY24 (Rs 4.13 Cr on Rs 86.57 Cr), 8.10% in FY25 (Rs 7.09 Cr on Rs 87.53 Cr) and 10.22% in FY26 (Rs 10.19 Cr on Rs 99.74 Cr).
- Profit after tax rose in each year after FY23 — Rs 1.39 Cr, Rs 3.29 Cr, Rs 5.13 Cr and Rs 7.72 Cr — with FY26 50.49% above FY25 on revenue 13.95% higher. Net worth likewise rose in each year after FY23: Rs 1.44 Cr, Rs 4.73 Cr, Rs 9.86 Cr and Rs 18.13 Cr.
- The whole Rs 38.12 Cr issue was fresh, with the offer-for-sale component at Rs 0 Cr at both ends of the band. Promoter holding is recorded at 99.96% pre-issue and 73.46% post-issue.
What to weigh against it
- The record states that one customer was 52.07% of revenue in the six months to 30 September 2025, and the top ten 93.90%. It names no customers — the key-customers list is empty.
- The record puts cost of services at Rs 73.54 Cr of the Rs 87.53 Cr of FY25 revenue from operations, or 84.02%, and describes revenue as billed against purchase orders and work orders rather than long-term contracts, with visibility resetting at each assignment.
- Total borrowings rose in each year after FY23: Rs 0.68 Cr, Rs 2.01 Cr, Rs 3.57 Cr and Rs 9.44 Cr, the FY26 figure being 164.43% above FY25. Set against net worth, borrowings were 0.47x in FY23 (Rs 0.68 Cr on Rs 1.44 Cr), 0.42x in FY24 (Rs 2.01 Cr on Rs 4.73 Cr), 0.36x in FY25 (Rs 3.57 Cr on Rs 9.86 Cr) and 0.52x in FY26 (Rs 9.44 Cr on Rs 18.13 Cr).
- The record carries no total assets, no total expenses and no operating cash flow for any of the four years, and no valuation, peer, anchor, allocation or offer-object data, so coverage, asset-turn and per-share valuation measures cannot be computed from it.
Easy to miss in the prospectus
- Customer concentration is recorded for one period only — the six months to 30 September 2025, at 52.07% for the largest customer and 93.90% for the top ten. The record carries no equivalent split for FY26 or any full year.
- The record's business-model note states that Rs 18.80 Cr of the Rs 38.12 Cr issue proceeds was earmarked for working capital, 49.32% of the issue, and describes vendors and venues as requiring advances before an event with clients paying after it. Operating cash flow is null for all four years on record.
- Price data stops at 23 October 2026, when the share last traded at Rs 60, against a day-one close of Rs 105.45 and a band top of Rs 118. The record holds a single subscription snapshot, day three (QIB 26.18x, retail 1.38x, NII 0.52x, total 2.39x), and no grey-market series.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Corporate Professionals Capital Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- Mudra RTA Ventures Private Limited
How these figures were checked
Reconciled to Eventions's own prospectus and to exchange disclosures, then cross-checked against 6 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Eventions Limited — Draft Red Herring Prospectus (filed with NSE Emerge, dated March 31, 2026) · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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