Maxposure, a media and entertainment services company, is gearing up for its initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.
According to experts in the primary market, the company has set the price band for its upcoming public issue at Rs 31 to Rs 33 per share, with a face value of Rs 10 per share. This book-built issue amounts to Rs 20.26 crore and comprises an entirely fresh issue of 61.4 lakh shares.
The minimum lot size for an application is 4000 shares, requiring a minimum investment of Rs 132,000 for retail investors. For high-net-worth individuals (HNIs), the minimum lot size investment is 2 lots (8,000 shares) amounting to Rs 264,000.
The allotment for the Maxposure IPO is expected to be finalised on Thursday, January 18, with shares set to list on NSE SME on Monday, January 22.
Prakash Johari, Chairman and Managing Director of Maxposure Limited on the IPO, said, “we take pride in being a leader in the technology-driven new-age media and entertainment industry, with a focus on the aviation market".
"Our commitment to quality and technological innovations sets us apart. We are the only full-service Inflight Entertainment Content Service provider in India and have entered the highly regulated aviation market with two high-margin products: a wireless streaming server and the globally patented Inviseo tray table for airlines," he added.
GYR Capital Advisors is the bookrunner and lead manager for the Maxposure IPO, while Bigshare Services will serve as the registrar. Giriraj Stock Broking is the market maker for the Maxposure IPO.
IPO reservations
About 50 percent of the issue is reserved for qualified institutional buyers (QIBs), not less than 35 percent for retail investors, and not less than 15 percent for high-net-worth individuals (HNIs).
Maxposure Limited specialises in providing personalised media and entertainment services across various platforms, including inflight entertainment, content marketing, technology, and advertising. The Mumbai-based company's lab facility offers services such as custom editing, metadata creation, duplication, audio enhancement, encoding and transcoding, and post-production.
Between the financial years ending March 31, 2023, and March 31, 2022, Maxposure Limited reported a 1.03 percent increase in revenue and a significant 1162.04 percent rise in profit after tax (PAT).
The net proceeds from the IPO are intended to be utilised for various purposes, including obtaining certifications from the Federal Aviation Administration ("FAA") and the European Union Aviation Safety Agency ("EASA") for the wireless streaming server ("AeroHub") and patented Inviseo tray table. Additionally, the funds will support working capital requirements for manufacturing proposed products, prepayment or repayment of outstanding borrowings, and general corporate purposes.
(With PTI inputs)
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