Greater Noida-based exhibition and convention centre operator proposes a fresh issue of 75 lakh shares alongside an offer for sale by existing shareholders.
India Exposition Mart, which operates the India Expo Centre and Mart in Greater Noida, has reportedly filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), setting the stage for its proposed initial public offering (IPO). The company filed the draft papers recently, as per the filing details.
The proposed IPO will comprise a fresh issue of up to 75 lakh equity shares and an offer for sale (OFS) of up to 2.27 crore shares by existing shareholders. The company has proposed listing its equity shares on both the BSE and NSE.
Funds to be used to improve the company’s existing exhibition infrastructure.
A significant portion of the fresh issue proceeds is expected to be used for improving the company’s existing exhibition infrastructure. According to the draft papers, around ₹63.8 crore of the net proceeds will be allocated to upgrading air-handling units, chillers, cooling towers, lifts, escalators, variable-frequency drives, and other related facilities at the India Expo Centre and Mart.
Another ₹30.8 crore has been proposed for renovation work at Exhibition Halls 4 and 6 and the construction of Exhibition Hall 18. The balance of the proceeds will be used for general corporate purposes.
Business built around the MICE sector.
India Exposition Mart operates in the meetings, incentives, conferences and exhibitions (MICE) segment. The company says it ranks among India’s four largest exhibition and convention venues by total area.
Its operations have included a mix of third-party events, exhibitions, proprietary events and hospitality-related activities. Over the last three financial years, the company organised 156 events and exhibitions. It also had more than 45 confirmed bookings for upcoming events as of June 30, 2026.
The company’s financial performance has been mixed. Revenue increased 20.5% year-on-year to ₹290.6 crore in the financial year ended March 2026, compared with ₹241.2 crore a year earlier. However, profit declined to ₹31.6 crore from ₹40 crore during the same period, representing a fall of about 21%. Third-party events remained the largest contributor, accounting for 56% of revenue in FY26.
The IPO will now go through the regulatory process before the issue can proceed. The proposed listing would give India Exposition Mart access to the public equity markets while allowing existing shareholders to sell part of their holdings through the OFS route. The company has appointed Choice Capital Advisors as the merchant banker for the proposed India Exposition Mart IPO.
