Eventions Limited (CIN U92190HR2020PLC091592) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 32,30,400 shares, priced at ₹112.00 to ₹118.00 per share. In FY26 it reported revenue of ₹100 Cr (+14.0% on FY25) and a net profit of ₹7.7 Cr. Promoters hold 99.4% before the IPO. Our earlier look-up of its claims found 5 medium or high concerns across 16 claims looked up.
Read from public SEBI filings; last updated . Not investment advice.
Key signals
Read from the filing. Signals summarise it; they are not a recommendation or investment advice.
5 to review16 claims looked up earlier: 0 high, 5 medium concern.
How we rate these
Valuation: P/E at the top of the band: up to 25x good, up to 40x watch, above that concern.
Growth: Sales growth per year: 20% or more good, 8% or more watch, below that concern.
Profitability: Net profit margin: 10% or more good, 4% or more watch, below that concern. The trend note compares operating margin with the year before (1.5 points either way).
Debt: Borrowings / net worth: up to 0.5x good, up to 1.5x watch, above that concern.
Profit into cash: Cash from operations as a share of net profit: 80% or more good, 40% or more watch, below that (or negative) concern.
One-off income: Other and one-off income as a share of pre-tax profit: up to 10% good, up to 30% watch, above that concern. Any one-off item management itself describes moves "good" to "watch".
Where the money goes: Offer for sale as a share of the whole issue: under 40% good, under 75% watch, above that concern. In an offer for sale the money goes to the selling shareholders, not the company.
Red flags: Earlier web look-ups of the filing's claims: any high-concern finding is concern, any medium is watch, otherwise good.
Rules are rules of thumb, not a verdict: a fast-growing business can reasonably carry a higher P/E, and some sectors run on debt.
The IPO
What Eventions Limited is offering, at what price, and who owns it today. Read from the RHP; anything the company hasn't fixed yet shows as pending.
IPO dates announced
Bidding 30 Sep 2026 to 29 Sep 2026.
Fresh issue
₹38 Cr
32.3 lakh shares at ₹118.00, the top of the band
Offer for sale
Nil
Not part of this offer: the whole offer is new shares
Price band
₹112.00 – ₹118.00
From NSE -- may be revised once the filing states its own band; lot of 1200 shares, from ₹1,34,400
Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company
7.0
26%
Capex
Investment in Subsidiary
1.4
5.1%
Working capital
To meet working capital requirements
19
69%
General corporate
General Corporate Purpose
Not fixed yet
n/a
Amounts marked “not fixed yet” are left blank in the draft and are set once the price is decided. Source: page 90
Who owns it
Promoters hold before the IPO
99.4%
Promoters 99.4%Promoter group 0.6%Public 0.0%
Holder
Shares
% before IPO
Grand Total (A+B)Promoter group
89.5 lakh
100.0%
Mr. Ravi RajakPromoter
44.8 lakh
50.0%
Mr. Ravi RajakPublic
44.8 lakh
50.0%
Mr. Cristoo AroraPromoter
43.83 lakh
49.0%
Mr. Cristoo AroraPublic
43.83 lakh
49.0%
Mr. Ravi RajakPublic
44.8 lakh
0.6%
Mr. Cristoo AroraPublic
43.83 lakh
0.6%
Mrs. Kirat AhluwaliaPublic
36,450
0.6%
Mrs. Malti VermaPromoter group
43,650
0.5%
Mrs. Kirat AhluwaliaPromoter
36,450
0.4%
Ms. Vincy AroraPromoter group
7,200
0.1%
Valuation
At the price band
Low end
High end
Price per share
₹112.00
₹118.00
Market cap after IPO
₹136 Cr
₹144 Cr
P/E (FY26 profit)
17.68x
18.62x
Price / book value
2.85x
3.00x
Price / sales
1.37x
1.44x
Post-issue market cap divided by FY26 figures from the filing. A loss-making company has no P/E. Total issue size at the top of the band: ₹38 Cr. Price band is from NSE; not yet stated in this filing.
Business model
Is Eventions Limited a good business, and why? Its market, industry, edge and team, each rated by a stated rule.
One-off items management describes in its own discussion of the results. They are real, but they do not come from day-to-day operations and may not repeat, so an analyst would set them aside when judging the recurring business.
Other
Liability written back of ₹ (34.11) lakhs was attributable to the difference in cash flow for FY 2023-24.
As printed in the filing's summary financial information, converted to ₹ crore.
₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.59
Line item
FY24
FY25
FY26
Revenue from operations
87
88
100
Other income
0.72
0.49
0.88
87
88
101
Revenue
Finance costs
0.25
0.39
0.67
Depreciation and amortisation expenses
0.18
0.17
0.19
83
81
90
Expenses
Cost of Services
79
74
83
Employee benefit expenses
2.5
4.9
4.0
Other expenses
1.2
2.0
2.7
Profit before tax and prior period items (III = I - II)
4.4
7.0
10
Profit Before Exceptional and Extraordinary Items and Tax (III = I - II)
4.4
7.0
10
1.1
1.9
2.5
Tax expense
Current tax
1.1
2.0
2.6
Deferred tax (net)
0.08
-0.06
-0.07
Profit from Continuing Operations (III - IV )
3.3
5.1
7.7
Profit from Discontinuing Operations
0.00
0.00
0.00
Total Profit for the year
3.3
5.1
7.7
₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.58
Line item
FY24
FY25
FY26
Long term borrowings
1.1
0.75
1.4
Short term borrowings
0.93
2.8
8.0
Trade payables total outstanding dues of micro enterprise and small enterprises
0.00
0.00
0.09
4.4
2.1
3.5
EQUITY AND LIABILITIES
Shareholders' funds
Share capital
0.01
0.01
9.0
Reserve and surplus
4.7
9.9
9.2
Non current liabilities
Deferred tax liabilities
0.08
0.02
0.00
Long term provisions
1.6
0.04
0.09
Current liabilities
29
24
51
Other current liabilities
16
7.9
18
Short-term provisions
0.04
0.28
1.2
Trade receivables
13
9.9
30
29
24
51
ASSETS
Non-current assets
Property, plant and equipment
Tangible Assets
0.40
0.28
0.74
Non Current Investment
1.3
2.1
1.1
Deferred tax assets (Net)
0.00
0.00
0.06
Long-term loans and advances
0.18
0.18
0.28
Current assets
Cash and bank balances
2.6
0.01
1.5
Short-term loans and advances
12
11
14
Other current assets
0.07
0.02
3.0
₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.60
Line item
FY24
FY25
FY26
Operating profit before working capital changes
4.5
7.6
11
0.29
-2.9
-4.5
Cash flow from operating activities: Net profit before tax
4.4
7.0
10
Adjustments for profit and loss account items:- Depreciation and amortisation expense
0.18
0.17
0.19
Finance Cost
0.25
0.39
0.67
Liability written back
-0.34
0.00
-0.00
Adjustments for changes in working capital:
(Increase)/decrease in trade receivable
-7.8
2.7
-20
(Increase)/decrease in short term loan and advances
-8.3
2.5
-2.5
(Decrease)/increase in trade payable
2.6
-2.3
1.4
(Decrease)/increase in other current liabilities
9.9
-8.3
10
(Decrease)/increase in provisions
0.52
-3.2
0.13
(Increase)/decrease in Other Current Assets
-0.07
0.06
-3.0
Cash generated from operating activities
1.4
-0.94
-2.5
Income tax paid (including tax deducted at source)
-1.1
-2.0
-2.1
-1.7
-0.84
0.36
Cash flow from investing activities:
Purchase of Property, plant and equipment and intangible assets
-0.55
-0.04
-0.65
(Increase)/decrease in long term loan and advances
-0.18
0.00
-0.09
(Increase)/decrease in Non Current Investment
-1.0
-0.80
1.1
1.1
1.2
5.7
Cash flow from financing activities: Proceeds from borrowings
7.0
6.2
8.9
Issue of Equity Shares (Right Issue)
0.00
0.00
0.49
Repayment of borrowings
-5.7
-4.6
-3.0
Finance Cost
-0.25
-0.39
-0.67
Increase/ (decrease) in cash and cash equivalents, net
-0.36
-2.6
1.5
Cash and cash equivalents at the beginning of the year
2.9
2.6
0.01
2.6
0.01
1.5
Cash and cash equivalents includes
Cash on hand
0.00
0.00
0.00
Balances with banks:
On current accounts
2.6
0.01
1.5
Discounted cash flow
What Eventions Limited's cash flow would be worth today. Change the rate, time period or growth to see how sensitive the answer is.
% / yr
years
% / yr
Worth today (10 years of cash)
₹60 Cr
Per share
₹49.29
Top of the price band
₹118.00
DCF value is 58.2% below it.
Projected cash flow (₹ Cr) Worth today at 12.5% a yearAlong the bottom: years from now
Starting rate 12.5%: the cost of equity for the whole market, September 2026. It is the 10-year government bond yield of 7.41% less India's default spread of 1.87%, plus beta 0.98 from 2,111 listed companies times an equity risk premium of 7.08%. The yield is from Investing.com, India 10-year bond yield (historical data page); the premium is from Damodaran, Country Default Spreads and Risk Premiums (NYU Stern). This company's own industry group is not set yet, so the whole market's rate is used. Change the rate above to test other views.
Starts from FY26 net profit of ₹7.7 Cr, grown 7.3% a year (based on revenue growth FY24–FY26, capped at 20%) and discounted at 12.5% a year, with no value counted beyond year 10. Per share uses the shares outstanding after the IPO at the top of the band. A simple illustration from the filing's numbers, not a forecast or investment advice; small changes to the rate or growth move the answer a lot.
The short version
Start here. The story in a few minutes, with every fact tied to the page it came from.
Here’s a detail about the IPO of Eventions Limited that almost nobody notices: one search result points to GST proceedings against the promoter, totaling about 1.75 crore rupees. But here’s the catch—the search results don't even confirm what those proceedings actually were.
IPO Mechanics and Key Intermediaries
So how does the IPO actually happen? The filing details the timeline for the issue, starting with the bid opening on Wednesday, September 30, 2026, and concluding with the closing on Monday, October 05, 2026. This shows the precise window the company had to complete the offering.
Read more · 3 points, 4 supporting facts
So how does the IPO actually happen? The filing details the timeline for the issue, starting with the bid opening on Wednesday, September 30, 2026, and concluding with the closing on Monday, October 05, 2026. This shows the precise window the company had to complete the offering.
Bid/Issue Opens on Wednesday, September 30, 2026p.62
When you look at who was involved in the process, it's important to note the key roles. Corporate Professionals Capital Private Limited was listed as the Book Running Lead Manager, which means they played a central role in determining the price band for the issue.
Book Running Lead Manager is Corporate Professionals Capital Private Limitedp.64
The structure of the deal also points to specific agreements. The company entered into a Market Making Agreement with Aftertrade Broking Private Limited, which obligated them to provide two-way quotes for 75% of the trading time, linking their performance directly to the price bands set for the issue.
Market Making Agreement with Aftertrade Broking Private Limitedp.64
Analyzing Financial Performance Trends
When we look at the profit and loss statement, we see a clear trend in revenue growth. Revenue in FY26 hit Rs. 100 crore, which is a 13.9% increase compared to the previous year. This shows a consistent yearly growth rate of 7.3% from FY24 to FY26.
Read more · 3 points, 6 supporting facts
When we look at the profit and loss statement, we see a clear trend in revenue growth. Revenue in FY26 hit Rs. 100 crore, which is a 13.9% increase compared to the previous year. This shows a consistent yearly growth rate of 7.3% from FY24 to FY26.
Revenue in FY26 was Rs. 100 crore, which is a 13.9% increase versus the year before.p.110
However, the cash flow shows a significant disconnect. While the profit shows a decent margin, the cash from operations was negative. Specifically, cash from operations was negative Rs. 5 crore, which is 59% lower than the accounting profit.
Cash from operations was Rs. -5 crore against Rs. 8 crore of accounting profit.p.110
Net cash from operating activities was -4.5 crore.p.110
Finally, let's look at the balance sheet structure. The total assets have seen a substantial jump, moving from Rs. 29.0 crore in FY24 to Rs. 50.6 crore in FY26. This growth is mainly driven by the increase in short-term borrowings, which went from Rs. 0.9 crore to Rs. 8.0 crore over this period.
Total assets grew from Rs. 29.0 crore in FY24 to Rs. 50.6 crore in FY26.p.110
Short term borrowings increased from Rs. 0.9 crore to Rs. 8.0 crore.p.110
Key Operational and Profitability Risks
We need to look at how dependent the company is on its clients. The prospectus clearly states that a significant portion of the revenue comes from a limited number of customers. This means if any of those key clients reduce or stop their business, it could materially impact the company's revenue and profitability.
Read more · 3 points, 4 supporting facts
We need to look at how dependent the company is on its clients. The prospectus clearly states that a significant portion of the revenue comes from a limited number of customers. This means if any of those key clients reduce or stop their business, it could materially impact the company's revenue and profitability.
The company derives a significant portion of its revenues from a limited number of customers, and any reduction or discontinuation of business from such customers could materially affect revenues and profitability.p.27
The profitability itself isn't guaranteed to be stable. The filing points out that the increased profitability levels and this reliance on a few customers might not be sustainable in the future. This is because the profitability margins can fluctuate depending on the mix, pricing, and location of the events they execute.
The increased profitability levels and dependence on a limited number of customers may not be sustainable in future periods.p.27
The company's profitability margins may fluctuate depending upon the nature, scale, location, pricing and mix of events executed during a particular period.p.28
Finally, there's the risk associated with new investments and potential conflicts. The company is investing in a new subsidiary, Gantu Online Private Limited, which is still at an early stage. If that subsidiary underperforms, it could negatively affect the main company's business and financial results.
The investment in the subsidiary, Gantu Online Private Limited, which is at an early stage, may adversely affect the company's business, financial condition, and results of operations if it underperforms.p.28
Medium concern
Litigation and Regulatory Compliance Check
When we look at the litigation history, we see several consumer complaints filed against Eventions and its subsidiaries concerning travel arrangements. Specifically, a case was filed by Mr. Prashant Kumar and Ms. Soni against Eventions, Holiday Tram, Vietjet Air, and Bird Travels Pvt. Ltd., seeking recovery of principal amounts and compensation. This pending consumer case has a next hearing date scheduled for October 1, 2026.
Read more · 3 points, 6 supporting facts
When we look at the litigation history, we see several consumer complaints filed against Eventions and its subsidiaries concerning travel arrangements. Specifically, a case was filed by Mr. Prashant Kumar and Ms. Soni against Eventions, Holiday Tram, Vietjet Air, and Bird Travels Pvt. Ltd., seeking recovery of principal amounts and compensation. This pending consumer case has a next hearing date scheduled for October 1, 2026.
A consumer complaint was filed seeking recovery of ₹1,68,896 along with interest at 18% per annum and compensation of ₹5.0 for legal expenses, breach of trust, harassment, and loss of enjoyment.p.268
The pending consumer case has a next hearing date of October 1, 2026.p.268
Moving to tax matters, the filings show several outstanding demands related to GST non-filing. We see an outstanding demand totaling Rs. 53,62,080, which includes default of TDS across the years 2025-26 down to 2022-23. Furthermore, there are two outstanding indirect tax matters, including a show cause notice for non-filing of GST returns and an assessment order for non-filing of GSTR-3B returns.
An outstanding demand totalling Rs. 53,62,080 including default of TDS for the years 2025-26, 2024-25, 2023-24, and 2022-23.earlier look-up
There are two outstanding indirect tax (GST) matters, including a show cause notice for non-filing of GST returns and an assessment order for non-filing of GSTR-3B returns.p.271
The regulatory disclosures confirm that the company has secured key approvals for the IPO process. This includes receiving in-principle approval from the NSE for using its name in the Draft Red Herring Prospectus for listing on the Emerge Platform. Additionally, the company has entered into an agreement with the Book Running Lead Manager to ensure compulsory market making for a minimum of three years.
The company received in-principle approval from NSE vide their letter dated June 02, 2026, for using its name in the DRHP for listing of equity shares on the Emerge Platform.p.285
The company has entered into an agreement dated September 22, 2026, with the Book Running Lead Manager and a Market Maker to ensure compulsory Market Making for a minimum period of three (3) years.p.286
Who Controls the Promoters?
Let's look at who controls the company. The promoters—Mr. Cristoo Arora, Mr. Ravi Rajak, and Mrs. Kirat Ahluwalia—together hold a massive stake. The filing states they own 99.39% of the pre-issue equity share capital. This means they control almost the entire company before the IPO.
Read more · 3 points, 4 supporting facts
Let's look at who controls the company. The promoters—Mr. Cristoo Arora, Mr. Ravi Rajak, and Mrs. Kirat Ahluwalia—together hold a massive stake. The filing states they own 99.39% of the pre-issue equity share capital. This means they control almost the entire company before the IPO.
The promoters hold 99.39% of the pre-issue paid-up Equity Share capital.p.167
We need to see how these promoters are structured within the company. Mr. Cristoo Arora is the Whole Time Director and CFO, while Mr. Ravi Rajak is the Whole Time Director and CEO. They are the key executives running the show.
Mr. Cristoo Arora is the Whole Time Director and CFO of the Company.p.167
Mr. Ravi Rajak is the Whole Time Director and CEO of the Company.p.168
The document also clarifies some relationship stipulations. It mentions that the promoters have signed a non-compete agreement with a related entity, Eventions (Proprietorship), because it operates in a similar business line. This is a key detail regarding their business dealings.
The Promoters have entered into a non-compete agreement with respect to Eventions (Proprietorship) due to its engagement in a similar line of business.p.169
Bottom line
So, to summarize, we've looked at the timeline, the financial trends, the operational dependencies, and the regulatory hurdles. That's the picture the filing paints—what you make of it is up to you. Take all these factors into account before making any decisions.
Red flags from earlier look-ups
For this filing we looked up selected claims (promoters, court cases, subsidiaries) on the open web earlier. We no longer check what a filing says; SEBI reviews it.
MediumLitigation
Eventions Limited
60% confidence
What the filing says
There are two outstanding indirect tax (GST) matters, including a show cause notice for non-filing of GST returns and an assessment order for non-filing of GSTR-3B returns.
One search result corroborates the existence of GST proceedings involving the promoter, reporting an aggregate amount of Rs 1.7546 crore in such proceedings. However, the search results do not specifically confirm the exact nature of the two mentioned matters (show cause notice and assessment order for GSTR-3B) as described in the claim.
4 days ago ... Eventions Limited has disclosed four goods and services tax, or GST, proceedings involving its promoter with an aggregate amount involved of ...
1 day ago ... 19Litigation and regulatory matters. The company: Matter, Party, Amount ₹ lakh, Status. Consumer complaint over a Bali trip, Gurgaon forum ...
5 days ago ... ... last three years. Year, Total Revenue (Cr) ... Investors can check the Eventions Ltd IPO allotment status using their PAN, application number ...
5 days ago ... Eventions Ltd. has announced public offering of 3230400 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 108.00 per share.
MediumRegulatory
Eventions Limited
50% confidence
What the filing says
The Issue is being made under Regulation 229(2) of Chapter IX of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 via the book building process.
The search results confirm that Eventions Limited has filed a Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO), which is relevant to the claim about the issue process. However, the search results do not explicitly mention the specific regulation cited (Regulation 229(2) of Chapter IX of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018) or the book building process in relation to the filing.
21 hours ago ... Our Company was incorporated on December 15, 2020, under the name of `Eventions Private Limited', as a private limited Company under the ...
19 hours ago ... Eventions Ltd. · Propshop Events & Exhibitions shares list at 20% discount to IPO price on NSE SME platform · Goldman CEO says markets may take ' ...
2 days ago ... Eventions Limited, a Haryana-based MICE and event management company, has filed its Draft Red Herring Prospectus (DRHP) for an initial ...
3 days ago ... “As we enter the next phase of our growth, the IPO will strengthen our financial foundation, support our working capital needs and help us ...
10 hours ago ... Vikalp Mishra is registered with SEBI under SEBI (Research Analyst) Regulations, 2014 with registration no. INH000025391. All information ...
MediumRegulatory
Eventions Limited
50% confidence
What the filing says
The Issue is being made in terms of Regulation 229 (2) of Chapter IX of SEBI (ICDR) Regulations, 2018, for companies with post-issue paid-up capital between ten and twenty-five crore rupees.
The search results confirm that Eventions Limited has filed a DRHP and is involved in an IPO, with one result mentioning a fresh issue amount of ₹27.20 crore. However, the search results do not explicitly state the post-issue paid-up capital figure to directly verify the ten to twenty-five crore rupee range mentioned in the claim.
21 hours ago ... Our Company was incorporated on December 15, 2020, under the name of `Eventions Private Limited', as a private limited Company under the ...
19 hours ago ... Eventions Ltd. · Propshop Events & Exhibitions shares list at 20% discount to IPO price on NSE SME platform · Goldman CEO says markets may take ' ...
2 days ago ... Eventions Limited, a Haryana-based MICE and event management company, has filed its Draft Red Herring Prospectus (DRHP) for an initial ...
3 days ago ... “As we enter the next phase of our growth, the IPO will strengthen our financial foundation, support our working capital needs and help us ...
10 hours ago ... Vikalp Mishra is registered with SEBI under SEBI (Research Analyst) Regulations, 2014 with registration no. INH000025391. All information ...
MediumLitigation
Eventions Limited
50% confidence
What the filing says
There is an outstanding demand totalling Rs. 53,62,080 including default of TDS for the years 2025-26, 2024-25, 2023-24, and 2022-23.
The search results mention GST proceedings involving the promoter with an aggregate amount, but none directly corroborate the specific outstanding demand figure mentioned in the DRHP claim (Rs. 53,62,080 including default of TDS for four specific years).
4 days ago ... Eventions Limited has disclosed four goods and services tax, or GST, proceedings involving its promoter with an aggregate amount involved of ...
1 day ago ... 19Litigation and regulatory matters. The company: Matter, Party, Amount ₹ lakh, Status. Consumer complaint over a Bali trip, Gurgaon forum ...
5 days ago ... ... last three years. Year, Total Revenue (Cr) ... Investors can check the Eventions Ltd IPO allotment status using their PAN, application number ...
5 days ago ... Eventions Ltd. has announced public offering of 3230400 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 108.00 per share.
MediumLitigation
Eventions Limited
50% confidence
What the filing says
The pending consumer case has a next hearing date of October 1, 2026.
The search results mention a consumer complaint involving Eventions, but none of the provided snippets specify a next hearing date of October 1, 2026 for a pending case. One result mentions a consumer complaint over a Bali trip, but this does not confirm the specific date mentioned in the DRHP claim.
4 days ago ... Eventions Limited has disclosed four goods and services tax, or GST, proceedings involving its promoter with an aggregate amount involved of ...
1 day ago ... 19Litigation and regulatory matters. The company: Matter, Party, Amount ₹ lakh, Status. Consumer complaint over a Bali trip, Gurgaon forum ...
5 days ago ... ... last three years. Year, Total Revenue (Cr) ... Investors can check the Eventions Ltd IPO allotment status using their PAN, application number ...
2 days ago ... 38.12 Crore. Eventions Limited (“Company”), a growing player in the MICE and corporate events space, with capabilities spanning event planning, ...
5 days ago ... Eventions Ltd. has announced public offering of 3230400 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 108.00 per share.
Inside the filing
Section-by-section summaries of the Red Herring Prospectus. Turn on Detailed view at the top to expand everything.
The IPO terms and where the money goes
Cover & definitions
Headline offer terms and the glossary the rest of the document relies on.
The definitions section identifies the company as Eventions Limited, a public limited company incorporated under the Companies Act, 2013. The registered office is located in Gurgaon, Haryana, India. Key personnel such as the Chief Executive Officer is Mr. Ravi Rajak and the Chief Financial Officer is Mr. Cristoo Arora. The Statutory Auditors are M/s Sanjeev Sharma & Associates, Chartered Accountants. The promoter(s) include Mr. Cristoo Arora, Mr. Ravi Rajak, and Mrs. Kirat Ahluwalia.
This section details various definitions related to the process of collecting and distributing the issue. It defines terms such as Collecting Depository Participants, Registrar to an Issue and share transfer agents, and the nature of the bid process concerning the Cut-off Price. It also specifies the parties involved in the issue, including the Lead Managers and Market Makers, and the various investor categories such as QIBs and Individual Investors. Furthermore, it outlines the documentation and payment methods related to the issue, including the issuance of a Draft Red Herring Prospectus and the use of various electronic transfer systems.
This section primarily lists various legal and technical terms, abbreviations, and regulatory circulars relevant to the issuance process. It details several SEBI circulars and notices issued by various bodies, including the NSE and BSE, which are referenced for context. It also defines terms related to UPI mechanisms, various financial instruments, and industry-specific acronyms.
This section primarily lists various acronyms and terms used within the Draft Red Herring Prospectus (DRHP) without providing specific facts about the issuer or the issue itself. It defines terms related to corporate bodies, financial metrics, legal acts, and various transaction/identification standards.
Key points (21)
The company is Eventions Limited, a public limited company incorporated under the Companies Act, 2013. p.5
The Registered Office of the company is Plot No. 108, Sector 44, Institutional, Gurgaon Sector 45, Haryana, India, 122003. p.5p.7
The Chief Executive Officer of the company is Mr. Ravi Rajak. p.5
The Chief Financial Officer of the company is Mr. Cristoo Arora. p.5
The Statutory Auditors are M/s Sanjeev Sharma & Associates, Chartered Accountants, with peer review certificate no. 022581. p.5
The company's subsidiary is Gantu Online Private Limited. p.5
The Promoter(s) of the company include Mr. Cristoo Arora, Mr. Ravi Rajak, and Mrs. Kirat Ahluwalia. p.6
The company's MOA is the Memorandum of Association of Eventions Limited as amended from time to time. p.6
The issue is a Draft Red Herring Prospectus dated March 31, 2026, issued in accordance with Sections 26 & 32 of the Companies Act, 2013. p.10
The Market Maker to the Issue is Aftertrade Broking Private Limited. p.11
The Market Maker Reservation Portion is 1,62,000 Equity Shares of INR 10 each at an Issue price of INR [●] each aggregating to INR [●] Lakhs to be subscribed by the Market Maker in this issue. p.11
The Issue is defined as the Initial Public Issue of upto 32,30,400*/- Equity shares of INR 10 each at issue price of INR [●]/- per Equity share, including a premium of INR [●]/- per equity share aggregating to INR [●] lakhs. p.11
The Issue Price is defined as the price at which the Equity Shares are being issued by the Company under this Red Herring Prospectus. p.12
The Book Running Lead Manager is the BRLM (Underwriter I), and MNM Stock Broking Private Limited is the Underwriter II. p.14
Several SEBI circulars and notices are referenced for context. p.15
A request for fund blocking via UPI mandate is defined. p.15
Definitions for various financial and industry terms are provided. p.15p.16
The text defines terms such as OCB (Overseas Corporate Body) and various financial metrics like PBT (Profit Before Tax) and ROE (Return on Equity). p.20
The text lists various regulatory and financial terms, including those related to SEBI regulations and banking/insurance standards. p.20
The text defines time periods for transactions, such as T+3 and T+6, and various identification numbers like TIN and UDIN. p.21
The offer
How many shares are being sold, by whom, and on what terms.
The section provides details regarding the company's incorporation history, including its conversion from a private to a public limited company. It outlines key details about the bid/issue programme, specifying the opening and closing dates for the issue. Furthermore, it details various intermediaries involved in the process, such as Book Running Lead Managers, registrars, legal counsel, and banker.
The section details various regulatory consents, the appointment of a monitoring agency, and the process for filing the Red Herring Prospectus. It clarifies that certain consents have not been withdrawn and specifies that the issue is equity-based, thus exempting the requirement for appointing trustees. Furthermore, it outlines disclosure requirements regarding the net proceeds and material deviations, and confirms that no Green Shoe Option is applicable. The filing process involves submission to NSE, and the prospectus will be made available on various platforms. The book-building process involves the company and the Book Running Lead Manager in determining the price band.
The company entered into a Market Making Agreement with Aftertrade Broking Private Limited, which is designated as the Market Maker. This agreement outlines various obligations for the Market Maker, including providing 2-way quotes for 75% of the trading time and adhering to specific spread requirements. Key details cover minimum contract sizes, minimum quote depth, and conditions related to the market maker's inventory level. Furthermore, the agreement details how price bands are determined based on the issue size and how the market maker's presence and performance are monitored by the Stock Exchange.
Key points (25)
The Bid/Issue Opens on Wednesday, September 30, 2026. p.62
The Bid/Issue Close on Monday, October 05, 2026. p.62
Anchor Bid Opens on Tuesday, September 29, 2026. p.62
The Book Running Lead Manager is Corporate Professionals Capital Private Limited. p.64
The Registrar to the Issue is Mudra RTA Ventures Private Limited. p.64
The Legal Advisor to the Issue is Zenith India Lawyers, Law Firm. p.64
HDFC Bank Limited is listed as the Banker to the Issue/Sponsor Bank. p.64
Aftertrade Broking Private Limited is listed as a Syndicate Member. p.64
Written consent was received from Sharma Charu & Associates Practicing Company Secretary to include their name as an 'expert' for the Red Herring Prospectus. p.67
The company is not required to appoint trustees because the issue is of equity shares. p.67
The company has voluntarily appointed Infomerics Valuation and Rating Limited as the monitoring agency for the issue. p.67
The Red Herring Prospectus is being filed with NSE. p.68
Book Building involves the company, the Book Running Lead Manager, Syndicate Members, the Registrar to the Issue, and Designated Intermediaries and Sponsor bank as principal parties. p.68
50% of the Net Issue shall be available for allocation on a proportionate basis to QIBs, with provisions for allocation to Anchor Investors. p.68
A total of 100% of the issue is underwritten by the Book Running Lead Manager and other entities. p.68
The Market Making Agreement was entered into with the Book Running Lead Manager and Market Maker on September 22, 2026. p.72
Aftertrade Broking Private Limited is the entity designated as the Market Maker. p.72
The Market Maker is required to provide a 2-way quote for 75% of the time in a day, which is monitored by the Stock Exchange. p.72
The Market Maker shall not sell in lots less than the minimum contract size allowed for trading on the NSE Emerge. p.72
The minimum depth of the quote shall be INR 1.00 Lakhs. p.72
The market maker would be exempted to provide quotes if the shares of the market maker in the company reach 25% after three months. p.72
The Market Maker shall have the right to terminate the arrangement by giving a three-month notice or on mutually acceptable terms. p.73
The Emerge Platform of NSE will monitor obligations in real time and punitive action may be initiated for exceptions and non-compliances. p.73
Applicable price bands for the first day of listing depend on the issue size, with different thresholds for buy quote exemptions and re-entry. p.73
Trading shall take place in the TFT segment for the first 10 days from the commencement of trading. p.73
Capital structure
Who owns what today, past share issues and what the shareholding looks like after the IPO.
The company's capital structure details the authorized, issued, and subscribed share capital, including various provisions for future issues. The company currently has only one class of equity shares with a face value of INR 10 each, and no outstanding convertible instruments or preference share capital as of the DRHP date. The section also details the history of share allotments, including initial subscriptions, bonus issues, and right issues, which show changes in the cumulative paid-up capital. Furthermore, the section discloses the shareholding of the promoters, who collectively hold approximately 99.39% of the issued, subscribed, and paid-up equity share capital.
The section details various capital structure events, including right issues, bonus issues, and private placements over different dates. It also outlines the shareholding pattern as per Regulation 31 of the SEBI (LODR) Regulations, 2015, as of the Red Herring Prospectus date. Furthermore, it confirms that all promoter equity shares were fully paid-up on the respective dates and that no equity shares held by promoters were under pledge. The text also specifies restrictions on future capital issuance and the status of convertible instruments.
The section details the promoter and promoter group's shareholding, the absence of recent share transactions, and provisions related to promoter contributions and lock-in periods for equity shares. It specifies that the Promoters and Promoter Group hold 99.96% of the pre-issue paid-up share capital as of the date of the Red Herring Prospectus. Furthermore, it outlines various regulations concerning the financing, transferability, and pledge of equity shares, including specific lock-in periods for promoter contributions.
Key points (30)
The aggregate nominal value of the Issued, Subscribed and Paid-Up Share Capital before the Issue is 89,53,509 Equity Shares. p.75
The company has no preference share capital as of the date of this Red Herring Prospectus. p.76
The Promoters hold an aggregate of 88,99,059 Equity Shares, representing approximately 99.39% of the issued, subscribed and paid-up Equity Share capital. p.79
Mr. Cristoo Arora's shareholding percentage as of December 15, 2020, was 0.08 of the pre-issue capital. p.79
Mr. Ravi Rajak's shareholding percentage as of May 26, 2025, was 0.03 of the pre-issue capital. p.79
The shareholding of Mr. Cristoo Arora after the Bonus Issue on September 29, 2025, was 2.68 of the post-issue capital. p.79
The shareholding of Mr. Ravi Rajak after the Right Issue on September 29, 2025, was 2.68 of the post-issue capital. p.79
The shareholding of Mr. Cristoo Arora after the Bonus Issue on March 5, 2026, was 43.33 of the post-issue capital. p.79
Mr. Ravi Rajak's shareholding percentage as of December 15, 2020, was 0.03 of the pre-issue capital. p.79
Mr. Cristoo Arora's shareholding percentage as of May 26, 2025, was 0.03 of the pre-issue capital. p.79
A Right Issue occurred on September 29, 2025, involving 2,45,000 shares. p.80
A Bonus Issue occurred on March 5, 2026, involving 39,60,000 shares. p.80
A Private Placement occurred on March 10, 2026, involving 24,980 shares. p.80
The total shareholding as calculated (A+B+C) was 99.39% on a certain date. p.80
All Equity Shares held by Promoters were fully paid-up on the respective dates of acquisition. p.80
None of the Equity Shares held by Promoters were under pledge. p.80
The shareholding pattern shows Promoters holding 99.96% of the total shares. p.81
The Public category holds 0.04% of the total shares. p.81
The total number of shares held by all categories (A+B+C) was 89,53,509. p.81
Mr. Cristoo Arora held 48.95% of the Paid-up Capital. p.82
Mr. Ravi Rajak held 50.04% of the Paid-up Capital. p.82
Mrs. Kirat Ahluwalia held 0.41% of the Paid-up Capital. p.82
There are 7 shareholders as on the date of filing of the Red Herring Prospectus. p.82
The Company has not issued any convertible instruments like warrants, debentures etc. since its incorporation. p.83
The Promoters and Promoters Group held 99.96% of the pre-issue paid up share capital as on the date of the Red Herring Prospectus. p.85
Specific details of Equity Shares held by Promoters that are locked in for three years include contributions from Mr. Cristoo Arora, Mr. Ravi Rajak, and Mrs. Kirat Ahluwalia. p.86
The total number of Equity Shares being locked in for three years amounts to 25,0 shares. p.86
The lock-in period for Equity Shares in excess of the minimum promoter contribution is specified as two years and one year from the date of allotment in the initial public offer. p.87
Locked-in Equity Shares may be pledged only with scheduled commercial banks or public financial institutions as collateral security for loans. p.87
The Company confirms that the minimum Promoters’ Contribution does not consist of Equity Shares acquired during the preceding three years for consideration other than cash and revaluation of assets or capitalization of intangible assets. p.87
Use of proceeds
What the money raised will be spent on: growth, debt repayment or promoters cashing out.
The company intends to raise funds through a fresh issue up to 32,30,400 Equity Shares at a specified issue price. The proceeds are earmarked for several purposes, including debt repayment, investment in a subsidiary, funding working capital needs, and general corporate purposes. The utilization of funds is based on internal management estimates, and the company clarifies that the entire fund requirement is to be financed from the issue proceeds. The utilization plan includes specific amounts for debt servicing and working capital requirements.
The company intends to utilize INR 140.00 lakhs from the net proceeds to invest in its subsidiary, Gantu Online Private Limited, primarily through debt financing. This investment is aimed at strengthening the subsidiary's technology-driven travel and experiential platform. The proposed funds are earmarked for various technology enhancements, including backend engineering, mobile application development, quality assurance, cloud infrastructure, and AI tool integration. Furthermore, the company plans to allocate INR 1880.00 lakhs from the net proceeds to meet its working capital requirements, which are expected to increase due to anticipated business growth.
The section details the assumptions underlying the working capital projections, covering various current assets and liabilities over projected periods. These include assumptions on trade receivables, short-term loans and advances, other current assets, trade payables, short-term provisions, and other current liabilities. Furthermore, the section outlines the flexibility of management in utilizing proceeds for general corporate purposes, subject to certain limits, and details the estimated issue-related expenses.
The company is required to disclose the uses and application of net proceeds to the Audit Committee on a half-yearly basis, and to furnish statements on material deviations to the Stock Exchange. The company is restricted from varying the objects of the Issue without shareholder authorization via a special resolution. Furthermore, no part of the issue proceeds will be paid to promoters or promoter groups except in the normal course of business and compliance with applicable law.
The provided text primarily details various financial performance indicators and historical comparisons of key performance metrics against industry peers. It lists indicators such as PAT margin, RoE, EPS, and various financial ratios, which are used to assess the company's profitability and efficiency. Furthermore, the text includes sections related to the weighted average cost of acquisition for primary and secondary transactions, along with a statement regarding possible tax benefits for the company and its shareholders in the context of an initial public offering.
This section primarily details the special tax benefits available to the company and its shareholders under both Direct and Indirect Taxation laws. Regarding Direct Taxation, the company has opted for Section 115BAA for the assessment years 2024-25, 2025-26, and 2026-27. Furthermore, the company does not have any investment, rendering certain provisions of Section 80M of the Income-tax Act inapplicable. In terms of Indirect Taxation, there are no special tax benefits available to the company or its shareholders under the GST law.
Key points (38)
A portion of the issue proceeds is designated for the repayment or pre-payment of certain borrowings availed by the company. p.90p.92
The utilization plan includes funds for investment in a subsidiary. p.90
Funds are intended to be used to meet working capital requirements. p.90
Funds are allocated for general corporate purposes, subject to a limit of 15% of gross proceeds or INR 10 Cr., whichever is lower. p.91
INR 140.00 lakhs from the Net Proceeds is proposed to be utilized towards investment in the subsidiary, Gantu Online Private Limited, in the form of debt. p.95
The investment is intended to support the development, enhancement, and scaling of the subsidiary's technology-driven travel and experiential platform. p.95
The technology outlay is proposed to be utilized towards strengthening core backend and frontend engineering capabilities, mobile application development, quality assurance, cloud infrastructure, and DevOps operations. p.95
The investment will support user experience and design enhancements, deployment of artificial intelligence tools for customer support, integration with third-party travel service providers, and implementation of security frameworks. p.95
An estimated annual technology budget for Grappus Technologies Private Limited is INR 140.00 lakhs. p.96
An estimated annual technology budget for Axeno Consulting Private Limited is INR 158.00 lakhs. p.96
The company proposes to utilize an estimated amount of INR 1880.00 lakhs from the Net Proceeds towards funding its working capital requirements. p.98
Trade receivable days are projected to be 65 days for the period. p.100
Short-term loans and advances are expected to increase from Rs 1,471 lakhs in FY27 to Rs 2,052 lakhs in FY28. p.100
Other current assets are expected to increase from Rs 2.09 lakhs in FY27 to Rs 2.30 lakhs in FY28. p.100
Trade payable days are expected to be maintained at around 10 days during the projected period. p.100
Management has flexibility to utilize proceeds for general corporate purposes, subject to a limit of 15% of the Gross Proceeds or INR 10 Crore, whichever is lower. p.101
The maximum utilization of funds for general corporate purposes is capped at 15% of the Gross Proceeds of the Issue or INR 10 Crore, whichever is lower. p.101
Issue related expenses include underwriting and management fees, printing and distribution expenses, advertisement expenses, legal fees, and listing fees. p.102
The company must disclose the uses and application of Net Proceeds to the Audit Committee on a half-yearly basis. p.105
The company shall furnish a statement to the Stock Exchange on a half-yearly basis indicating material deviations in the utilization of Net Proceeds. p.105
The company shall not vary the objects of the Issue without shareholder authorization by way of a special resolution through postal ballot. p.105
No part of the proceeds of the Issue will be paid by the company to the Promoters and Promoter Group, Directors, Associates, Key Management Personnel, or Group Companies except in the normal course of business and compliance with applicable law. p.105
EPS is defined as the portion of a company's profit allocated to each outstanding share of equity. p.110
PAT Margin (%) is an indicator of the overall profitability and financial performance of the business. p.110
RoE provides insight into how efficiently the company generates profits from shareholders’ funds. p.110
PAT margin is calculated as PAT divided by Total income. p.110
ROE is calculated as PAT divided by Average shareholders’ equity. p.110
EPS is mentioned as EPS for the period (The calculation has been presented after giving effect to the bonus issue dated March 5, 2026). p.110
Revenue from operations is the total revenue generated by the company from its operation. p.111
EBITDA is calculated as Profit after tax + Depreciation + Interest Expenses – Other Income. p.111
ROCE is calculated as EBIT divided by capital employed, which is defined as shareholders’ equity + Total Debt + Deferred Tax Liability. p.111
Current Ratio is calculated as Current Asset divided by Current Liability. p.111
Debt to Equity is calculated as Total Debt divided by Shareholder’s Equity. p.111
Weighted average cost of acquisition for primary issuances is listed as 10 [●] [●]. p.113
Weighted average cost of acquisition for secondary sale/acquisition is listed as 10 [●] [●]. p.113
The company has opted for a tax rate of 22% (plus applicable surcharge and education cess) for the financial year 2019-20 onwards under Section 115BAA. p.116
Provisions of Section 80M of the Act are not applicable to the company because it has no investment as on date. p.116
What could go wrong, per the company
Risk factors
The risks the company is legally required to disclose, in its own words.
Investors should be aware of several material risks associated with the company's operations and business model. Key risks include high customer concentration, which exposes the company to revenue volatility if key customers reduce or discontinue their business. Furthermore, the company's profitability levels, which have increased significantly, are not guaranteed to be sustainable due to factors like the nature of the event mix and pricing pressures. There are also risks related to the investment in a new subsidiary and potential conflicts of interest arising from related party transactions with promoter group entities.
The prospectus highlights several risks related to related party transactions, the company's history of non-compliance with statutory provisions, and potential future regulatory issues. There are concerns about the potential adverse effect of such transactions on the company's financial condition. Furthermore, the company has faced delays in filing various statutory forms with the Registrar of Companies (RoC), which may attract penalties. The prospectus also details past qualifications by statutory auditors concerning accounting and compliance issues, including non-compliance with PF/ESI laws, GST registration cancellation, and issues with recognizing foreign exchange fluctuations. Finally, there are concerns regarding the realization of unbilled revenue and the potential for negative cash flows due to mismatches between cash outflows and inflows.
The company faces several risks related to client relationships, operational execution, regulatory compliance, and financial stability. Risks include dependency on short-term purchase orders, potential issues with obtaining necessary statutory approvals, delays in paying statutory dues, and concentration of revenue in certain geographical regions. Furthermore, the reliance on third-party vendors and IT systems exposes the company to execution failures, cyber threats, and potential contractual disputes. There are also concerns regarding the ownership and enforcement of the company's trademark and the potential for delays in these legal processes.
The risk factors outlined in this section cover several areas, including reputational damage from incidents, uncertainty regarding leased office premises, business seasonality, and dependence on client satisfaction. The company operates in a competitive industry where service quality is paramount, and reliance on third-party vendors introduces execution risks. Furthermore, the business is sensitive to macroeconomic conditions, geopolitical tensions, and the potential for disruptions to affect revenue. Finally, there are significant risks related to data security due to the handling of confidential client and operational information.
The prospectus highlights several risks related to data security, pricing, ownership structure, operational dependencies, and financial exposure. Risks include potential data breaches, issues with the price of equity shares, the control exerted by promoters, reliance on key personnel, dependence on third-party service providers for logistics, exposure to foreign exchange fluctuations, potential losses in a subsidiary, and risks associated with financing and market data. Furthermore, there are concerns about conflicts of interest, the reliability of industry data, and the potential for issues with internal controls and access to external financing.
The risk factors outlined in this section cover several areas concerning internal controls, governance, employee conduct, financing, and marketability. Risks include potential failures in internal control systems, the inexperience of the Board in addressing regulatory requirements, and the risk of employee misconduct. Furthermore, there are concerns regarding the utilization of net proceeds, the uncertainty of future dividend payments, the volatility of the equity share market, and potential constraints on raising foreign capital due to exchange controls. Finally, the company faces risks related to the listing process, differences in accounting standards, and potential adverse impacts from economic slowdowns or political instability.
The provided text details the authorization of an Issue by the Board and Shareholders, referencing specific sections of the Companies Act, 2013, and SEBI (ICDR) Regulations, 2018. It outlines various components of the public issue, including different investor categories such as Market Maker Reservation, QIB, Non-Institutional, and Individual Investor Portions. Furthermore, it specifies the allocation rules for these portions, including reservations for different application sizes and the proportionate allocation of the net issue to various investor categories.
The company reported having no contingent liabilities or capital commitments for the financial years ended March 31, 2026, 2025, and 2024. The section also details various related party transactions involving directors and other entities, including remuneration, loans received, and repayments across different financial periods.
Key points (87, showing 60)
There is a potential for a real or perceived conflict of interest between the business activities of the Company and that of a promoter group entity. p.26
A non-compete agreement exists with a promoter group entity, and there is no assurance that such measures will be adequate to fully eliminate the possibility of conflicts of interest. p.26
Any breach of the non-compete obligations or divergence in business interests may adversely affect the company's business operations, client relationships, and financial performance. p.26
The company derives a significant portion of its revenues from a limited number of customers, and any reduction, delay, or discontinuation of business from such customers could materially affect revenues and profitability. p.27
The company's customers are not obligated to provide future business, and they may reduce, delay, or discontinue their engagements with the company at any time. p.27
Any default or financial distress on the part of a major customer could adversely impact the working capital position and profitability. p.27
The increased profitability levels and dependence on a limited number of customers may not be sustainable in future periods. p.27
The company's profitability margins may fluctuate depending upon the nature, scale, location, pricing and mix of events executed during a particular period. p.28
The investment in the subsidiary, Gantu Online Private Limited, which is at an early stage, may adversely affect the company's business, financial condition, and results of operations if it underperforms. p.28
The business performance is significantly dependent on demand for MICE services, which is influenced by factors such as corporate travel budgets, marketing and promotional expenditure, economic conditions, and client-specific requirements. p.29
The business model and operational strategy of the subsidiary are subject to risks including customer acquisition challenges, technological disruptions, dependency on third-party service providers, changing consumer preferences, intense competition from established travel platforms, and inability to achieve anticipated growth or profitability. p.29
There can be no assurance that the diversification of service offerings will be sufficient to mitigate risks arising from concentration in the MICE segment in the future. p.30
Working capital requirements may increase with the growth in the scale of operations, number of concurrent projects, and expansion of the business. p.30
A delay in the realization of receivables, failure of clients to make timely payments, or inability to recover advances from vendors may result in liquidity constraints. p.30
If the company is unable to arrange additional working capital through internal accruals, bank facilities, or other sources of funding on commercially acceptable terms, it may affect its ability to meet operational expenses and pursue growth opportunities. p.30
There is a risk that related party transactions might have been conducted on more favourable terms than arms-length transactions. p.31
There is a likelihood that the company will enter into related party transactions in the future. p.31
Related party transactions could have an adverse effect on the company's financial condition and results of operation. p.31
There have been instances of delays in filing with the Registrar of Companies (RoC) and non-compliance with certain statutory provisions of the Companies Act, 2013 and rules framed thereunder, which may attract penalties. p.31
The possibility of future delays in reporting requirements or imposition of penalties by regulatory authorities is noted. p.31
The adjudication application has been filed with the ROC for contravention of Section 10A (1) of the Companies Act, 2013. p.32
Deficiencies in internal controls may occur as the company grows, and there is no guarantee they will be addressed in a timely manner. p.32
The promoter has been associated with a company under the process of striking off by the Registrar of Companies, which may attract regulatory scrutiny. p.32
Past qualifications and adverse observations by statutory auditors relate to delays and non-compliances under applicable statutory laws and accounting matters. p.32
Past issues included non-compliance with provisions relating to Employees’ Provident Fund and Employees’ State Insurance Act. p.33
A Goods and Services Tax registration in the State of Kerala was cancelled by the GST authority. p.33
An outstanding amount of INR 8.22 lakhs towards interest and other charges related to GST was not provided for in the financial statements. p.33
Foreign exchange transactions during the course of business were not recorded in the financial statements, which could impact profit/loss. p.33
A portion of revenue is recognized prior to invoicing, resulting in unbilled revenue being reflected in financial statements. p.34
Delays in billing or collection of unbilled revenue may adversely affect cash flows and financial condition. p.34
Negative net cash flows have been experienced in certain periods, primarily due to working capital-intensive operations and delays in realizing receivables. p.34
Potential disputes with clients regarding the scope of services or pricing could delay the realization of unbilled revenue. p.34
The inability to generate sufficient cash flows in the future may require reliance on additional borrowings or external funding. p.35
Outstanding litigation exists against the company, and adverse outcomes may affect business, reputation, and results of operations. p.35
The company is vulnerable to legal action by employees or former employees regarding grievances, such as termination of employment. p.36
Revenue depends primarily on purchase orders or event-specific work orders rather than long-term contracts, and reductions or delays in such orders may negatively impact revenues and profitability. p.36
Clients are not necessarily obligated to issue future purchase orders and may cancel, postpone, or reduce the scope of events based on their internal business requirements. p.36
A significant portion of event management expenses is concentrated among a limited number of suppliers, which poses a risk if vendors change terms or become unavailable. p.36
There have been instances of delays in filing statutory forms with government authorities, and there is no assurance that regulators will not initiate proceedings. p.37
Delays in filing GST returns and payment/filing of TDS returns have occurred, which are being regularized, but such delays may cause fines or penalties. p.37
Revenue concentration in certain states may expose the business to risks from unfamiliar market conditions, local competition, and logistical challenges in new geographies. p.38
There may not be assurance regarding the ability to retain or renew current lease agreements for the registered office premises on the same or similar terms. p.41
Relocation of offices due to lease non-renewal or termination may involve additional costs, including increased rental expenditure, brokerage charges, fit-out costs, and operational disruptions. p.41
Business revenues and cash flows are subject to seasonality and fluctuations due to corporate budgeting cycles, marketing calendars, and travel patterns. p.41
Delays, rescheduling, or cancellations of events by clients may accentuate fluctuations in revenue and impact operating performance. p.41
Failure to meet client expectations may expose the company to service deficiency claims. p.41
Deficiencies in service delivery, such as delays or coordination issues, may result in client dissatisfaction, reputational harm, and loss of repeat business. p.42
Reliance on third-party vendors for event execution exposes operations to risks from delays, non-performance, or non-compliance with agreed service standards. p.42
Fluctuations in vendor pricing, particularly for logistics and technical equipment, may lead to cost escalations that are not fully recoverable from clients. p.42
The event management industry is highly competitive, with competitors possessing greater resources or market presence, leading to pressure on operating margins. p.43
Dependence on domestic corporate clients exposes revenue to risks from fluctuations in corporate travel, marketing, and employee engagement expenditure. p.43
Adverse macroeconomic developments, such as inflationary pressures or recessionary trends, may lead to deferment or cancellation of corporate events. p.44
Geopolitical tensions, war situations, or travel restrictions may disrupt global and domestic economic conditions, affecting operations and increasing costs. p.44
The inability to adapt to evolving event formats, including digital and hybrid events, may affect competitiveness and growth prospects. p.45
Inadequate protection of client data or digital content may expose the company to data privacy, confidentiality, and regulatory risks. p.45
Breaches of information security systems could lead to legal claims, regulatory scrutiny, reputational damage, and loss of client confidence. p.45
There is no assurance that data breaches, cyber incidents, or loss of confidential information will not occur in the future, which may affect reputation, client relationships, and financial performance. p.46
Certain industry and market data included in the prospectus have not been independently verified. p.46
Ability to access external financing may be limited in the absence of a credit rating, and an unfavourable credit assessment may adversely affect business prospects. p.49
Failure to maintain an effective system of internal controls may prevent the accurate reporting of financial results. p.50
Litigation and regulatory matters
Litigation
Court cases, tax disputes and regulatory proceedings involving the company, promoters and directors.
The section outlines the absence of outstanding criminal proceedings, statutory or regulatory actions, direct or indirect tax liabilities, or material proceedings involving the Company, its Directors, Promoters, or Subsidiaries, except as specified. It details a consumer complaint filed against the Company, Holiday Tram, Vietjet Air, and Bird Travels Pvt. Ltd. concerning travel arrangements, and the claim sought recovery of principal amounts, interest, and compensation for damages. Furthermore, the section lists various outstanding tax proceedings, including demands for default of TDS and scrutiny notices related to GST non-filing.
The section details several past and pending litigation matters, primarily related to Goods and Services Tax (GST) proceedings in Haryana and Delhi. There are several instances where scrutiny notices and show cause notices were issued, leading to proposed demands, some of which have been confirmed by orders, and some of which are currently under appeal. Furthermore, the section outlines various approvals obtained by the company for the issue, including corporate approvals, stock exchange in-principle approval, agreements with depository services, and a Lender's No Objection Certificate (NOC).
The provided section details various certificates and registrations related to Goods and Services Tax across several Indian states, including Delhi, Goa, Haryana, Karnataka, Kerala, Maharashtra, Rajasthan, Tamil Nadu, Telangana, and Uttarakhand. It also lists various professional tax enrollments and business operational approvals. These include certificates for GST registration, professional tax, and various licenses under different acts, with specified dates for issuance and expiry.
The section details various registrations and certificates held by the company, primarily related to Shops and Establishments across different Indian states, including Karnataka, West Bengal, and Punjab. It also mentions a Labour Identification Number certification. Furthermore, it discloses an assignment deed for a trade mark and lists several applications for professional tax, new trade licenses, and shop and establishment registrations that have been applied for but not yet received.
Key points (33)
A consumer complaint was filed by Mr. Prashant Kumar and Ms. Soni against Mr. Neeraj Gill, Eventions, Holiday Tram, and Vietjet Air concerning ticketing and travel arrangements. p.268
The consumer complaint sought recovery of ₹1,68,896 along with interest at 18% per annum and compensation of ₹5,0 for legal expenses, breach of trust, harassment, mental pain and agony, and ₹5,0 for loss of enjoyment of the trip. p.268
The pending consumer case has a next hearing date of October 1, 2026. p.268
There is an outstanding demand totalling Rs. 53,62,080 including default of TDS for the years 2025-26, 2024-25, 2023-24, and 2022-23. p.271
There are two outstanding indirect tax (GST) matters, including a show cause notice for non-filing of GST returns and an assessment order for non-filing of GSTR-3B returns. p.271
A scrutiny notice was issued for FY 2022–23 under the Central Goods and Services Tax Act, 2017 and the Haryana Goods and Services Tax Act, 2017, identifying various discrepancies in the GST. p.271
A scrutiny notice in Form GST ASMT-10 was issued for FY 2019-20, leading to a show cause notice proposing a demand of ₹88,74,249, which was subsequently confirmed by an order proposing a final demand of ₹69,84,817, currently under appeal. p.272
A show cause notice for FY 2017–18 proposed a demand of ₹9,18,940 concerning excess and ineligible input tax credit, which resulted in a final demand of ₹9,64,886. p.272
A scrutiny notice for FY 2019–20 resulted in a show cause notice proposing a demand of ₹95,95,823, which was confirmed by an adjudication order, and this order was challenged in the High Court, leading to a direction for fresh adjudication. p.273
A Contempt Petition was filed by the Promoter against the Union Government and other authorities for not enabling the GST portal for reply submissions, which was disposed of by the High Court with liberty to seek remedies. p.273
There is an outstanding demand in default of TDS for the year 2025-26 amounting to Rs 2,44,070. p.274
The Board of Directors approved a materiality threshold for dues owed to small scale undertakings and other creditors exceeding 5% of total trade payables, with a threshold set at 17.88 Lakhs. p.274
The total trade payables for the year ended on March 31, 2026 were INR 357.51 Lakhs. p.274
The company obtained various approvals for the issue, including corporate approvals from the Board of Directors and shareholders, an in-principle approval from NSE for using the name in offer documents, and agreements with CDSL and NSDL for share dematerialization. p.275
A Lender’s No Objection Certificate (NOC) for the Issue was received from HDFC Bank Limited. p.275
The company has obtained various licenses/registrations/approvals from the Government, including a Permanent Account Number (PAN) and a Tax Deduction Account Number (TAN), and a Certificate of Registration of Goods. p.275
Certificate of Registration of Goods and Services Tax (Delhi) was cancelled. p.277
Certificate of Enrolment of Profession Tax (Maharashtr a) was cancelled. p.279
Assignment of Profession Tax (Greater Chennai Corporation) was cancelled. p.280
Udyam Registration Certificate was cancelled. p.280
Legal Entity Identifier Certification was valid until March 27, 2029. p.281
Registration under Employees’ Provident Funds was valid until cancelled. p.281
Employees’ State Insurance Registration was valid until cancelled. p.281
Shops & Establishments Registration Certificate (A9 Northex Itl Tower New Delhi) was valid until cancelled. p.281
A Registration Certificate of Shops and Commercial Establishment was issued in Karnataka. p.282
A Registration Certificate of Shops and Establishments was issued in West Bengal. p.282
A Labour Identification Number (LIN) certification was verified. p.282
A Shops & Commercial Establishments Registration Certificate was issued in Kerala. p.283
A Trade Mark Registration for the mark 'EVENTIONS' was obtained. p.283
An assignment deed was executed by Mr. Cristoo Arora, assigning trade mark rights to the Company, and the Company is in the process of registering it. p.284
An application for registration under the Telangana Tax on Professions, Trades, Callings and Employments Act was made. p.284
An application for a New Trade License in Karnataka was made. p.284
An application for the registration of a Shop and Establishment in Goa was made. p.284
Regulatory disclosures
Approvals, licences, and any regulatory actions or compliance matters.
The section details various authorizations and confirmations related to the issuance of equity shares, including resolutions passed by the Board and shareholders. It confirms that the company has received in-principle approval from NSE for using its name in the DRHP for listing on the Emerge Platform. Furthermore, it outlines several compliance confirmations regarding the company's status, eligibility for the issue under SEBI (ICDR) Regulations, and agreements made with the Book Running Lead Manager for the issuance process.
The section primarily addresses compliance with various regulations, including those of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company confirms that intermediaries are registered with the Board and that certain provisions related to promoter contributions and securities have been complied with. It also details undertakings regarding the issuance of dematerialized shares and the process of due diligence. Furthermore, it includes disclaimers concerning the listing on the NSE Emerge platform and various regulatory filings procedures.
The section details various consents required for the Red Herring Prospectus, including those from various company officials and auditors, which must be filed with the Registrar of Companies (RoC). It also mentions agreements with Statutory Auditors to provide consent for reports on tax benefits and restated financial statements. Furthermore, the text outlines the legal framework governing the issue, including adherence to various Acts and Regulations, and specifies the mandatory application process through the ASBA mechanism or the UPI mechanism as per SEBI circulars. The section also covers the authority for the issue, which was granted by a Board resolution and a Special Resolution from the shareholders.
This section details various aspects related to the issuance process, including the determination of price bands, the required compliance with SEBI (ICDR) Regulations, and the rights of equity shareholders. It specifies minimum application sizes and trading lot sizes, mandates the use of dematerialized equity shares, and outlines procedures for allotment, including timelines and handling of bid revisions. Furthermore, it covers jurisdiction and provisions related to joint holders and nomination facilities for equity shares.
This section details various provisions related to the issue, including conditions for subscription, refund procedures, and requirements under SEBI regulations. It outlines penalties for failure to subscribe to the issue within specified timeframes and sets minimum requirements for prospective allottees. Furthermore, it specifies rules regarding the listing of securities and the market-making arrangements for the shares.
This section details various procedural aspects related to the issuance of equity shares, including the mode of application, bid size limits, and allocation provisions under the SEBI (ICDR) Regulations. It outlines rules for allocating shares to Anchor Investors, including provisions for domestic Mutual Funds and insurance/pension funds, with changes effective from December 1, 2025. Furthermore, it specifies the percentage of post-issue paid-up equity share capital that must be allocated to certain investor categories. The text also covers rules regarding the handling of bids, the process for withdrawing an issue, and various timelines for listing shares on the stock exchange.
This section details various regulatory frameworks and procedures related to the public issue, including the implementation of the UPI mechanism across different phases. It outlines requirements for investor grievances, the role of sponsor banks, and the process for collecting and releasing processing fees. Furthermore, it specifies which entities are eligible to receive applications and the requirements for providing necessary bidder details, such as UPI IDs, in the application forms.
This section details the procedures for applications submitted by investors to intermediaries, particularly concerning the use of UPI for payments. It outlines the flow of application details, the role of sponsor banks in initiating fund blocking requests through NPCI, and the acceptance of mandate requests on investors' mobile applications. It also specifies rules regarding the sharing of bid details with sponsor banks and the cut-off time for pending mandate requests. Furthermore, the text discusses the audit trail maintained by NPCI for bids and the liability for failed transactions, as well as the ability to modify certain bid details and the authorization granted to the company by bidders upon submission.
This section details various procedural requirements and restrictions concerning the bidding process for the issue, including rules for filing prospectuses, handling of bid forms, and eligibility criteria for different investor categories. It outlines specific rules for Anchor Investors, Qualified Institutional Buyers (QIBs), Eligible NRIs, Foreign Portfolio Investors (FPIs), and various other investor groups. Furthermore, it specifies documentation requirements for bids from certain entities like Mutual Funds and Systemically Important Non-Banking Financial Companies.
This section details various requirements and restrictions concerning bids and applications for the issue, depending on the type of bidder. It outlines specific documentation needed from different entities such as insurance companies, FIIs, mutual funds, provident funds, and banking companies. Furthermore, it specifies procedures for Application Supported by Blocked Amount (ASBA) and the handling of applications by various intermediaries and syndicate banks. It also covers rules for allotment, payment mechanisms, and the use of electronic registration facilities.
This section details various procedural and compliance requirements related to the bidding and allotment process for the issue. It outlines verification procedures for DP ID, Client ID, and PAN, the process for confirming blocked funds, and rules regarding bid modifications and withdrawal. Furthermore, it specifies rules for allocation, including spillover provisions for under-subscription, and various instructions for bidders concerning the submission of forms, payment methods, and ensuring correct details are provided.
This section outlines extensive rules and prohibitions concerning various aspects of the equity share bidding and allotment process. It details numerous criteria for bid rejection, including mismatches in financial amounts, identity documentation, bid pricing violations, and procedural failures. Furthermore, it specifies rules regarding the eligibility of bidders, the handling of various investor categories (Individual, Non-Institutional, QIB, Anchor), and the procedures for allocating shares, such as using draw of lots or proportionate allotment based on oversubscription levels.
This section details various procedural requirements and undertakings related to the issuance and allotment of equity shares, including responsibilities of various parties and timelines for completing the process. It outlines procedures for allotment advice, the handling of applications, communication protocols, and the company's commitments regarding the utilization of issue proceeds. Furthermore, it specifies conditions under which applications may be rejected and the company's obligations concerning delays or non-listing scenarios.
This section outlines various restrictions and guidelines concerning foreign investment in Indian securities, primarily governed by the Industrial Policy, 1991, and FEMA regulations. It details limits on foreign investment, including provisions related to multi-brand retail trading and inventory-based e-commerce. Furthermore, it specifies restrictions on non-resident participation in the issue of securities, including limits on individual and aggregate holdings of Foreign Portfolio Investors (FPIs). The text also discusses the consolidation and supersession of previous FDI policies by the DPIIT and the ongoing updates by the government.
This section primarily details various definitions, provisions related to the interpretation of the Articles, and the powers concerning share capital and rights. It outlines how various terms are to be construed, the power of the Board to allot and issue shares, and the conditions under which shares can be classified or increased. Furthermore, it covers procedures for the issue of further share capital, including requirements for offers and the disposal of shares, as well as provisions related to the lien of the company on shares and the process for calling for and recovering unpaid amounts.
This section details various provisions related to shareholder rights, transfers, and the handling of securities, including provisions concerning calls, the transfer of shares, and the dematerialization of securities. It outlines procedures for recording transfers, the requirement for certain forms of transfer, and the Board's power to manage the closure of transfer books. Furthermore, the text covers rules for dealing with the death, insolvency, or lunacy of shareholders and the recognition of their legal representatives as shareholders. A significant part of the section addresses the dematerialization of securities through Depositories, including the rights and obligations of Depositories and Beneficial Owners.
This section details various provisions related to share forfeiture, the power of the Board to annul such forfeitures, and the procedures for the sale or disposal of forfeited shares. It also outlines the Company's power to alter its share capital, including increasing, consolidating, dividing, converting, or cancelling shares. Furthermore, the text covers the power to reduce capital, the power to purchase the Company's own securities through buy-back arrangements, and the ability to modify rights attached to different classes of shares. The section also discusses the maintenance of statutory registers, inspection rights for members, and the issuance and dematerialization of share certificates.
This section details various procedural and governance aspects related to the company's operations, including resolutions for capitalizing profits and the issue of shares. It outlines the Board's powers regarding appropriations, the issuance of fully paid shares, and the handling of securities premiums and capital redemption reserves. Furthermore, the text covers requirements for Annual General Meetings, including notice periods, venue stipulations, and the rights of shareholders and auditors to attend. It also discusses provisions for Extraordinary General Meetings, including requisitions from shareholders, and rules concerning the quorum and conduct of meetings.
This section outlines various provisions related to the appointment, removal, and duties of directors, including provisions for Debenture Directors, Independent Directors, and Nominee Directors. It details conditions under which Nominee Directors' appointments may cease, such as the repayment of money owed by the company or the corporation's holding of debentures. Furthermore, the text discusses the power of Directors to agree on terms for contracts with various entities and the rights of such appointed directors regarding remuneration and the ability to be removed by the appointer.
This section details various powers and provisions related to the Company's operations, including its capacity to act in insolvency matters, provide for personal liabilities of directors or others, and manage various financial aspects. It outlines the Board's authority to delegate powers to officers or committees, and the requirements for passing resolutions through circulation. Furthermore, the text covers the maintenance of minutes, the appointment of a Secretary, the power to provide and substitute the Company Seal, and the procedures for serving documents and notices on shareholders.
This section primarily outlines various provisions related to winding up the company, indemnity for officers, signing of instruments, and the power to amend the Memorandum and Articles of Association. It also details restrictions on shareholder inspection of company works and duties of officers regarding secrecy. Furthermore, it lists numerous material contracts and documents, including agreements with various financial intermediaries and reports, which are subject to inspection by the Registrar of Companies (RoC) during the filing period.
Key points (271, showing 60)
The Fresh Issue of Equity Shares was authorized by a resolution by the Board of Directors passed on March 26, 2026, under Section 62(1)(c) of the Companies Act 2013. p.285
The Fresh Issue of Equity Shares was authorized by the shareholders by special resolution at the Extra Ordinary General Meeting held on March 27, 2026, under Section 62(1)(c) and other applicable provisions of the Companies Act 2013. p.285
The Company received in-principal approval from NSE vide their letter dated June 02, 2026, for using its name in the DRHP for listing of equity shares on the Emerge Platform of NSE. p.285
The Book Running Lead Manager shall underwrite a minimum of 15% of the Total Issue Size in accordance with Regulation 260 of the SEBI (ICDR) Regulations. p.286
The Book Running Lead Manager is required to submit a due diligence certificate as prescribed by SEBI along with the prospectus in accordance with Regulation 246 (3) of the SEBI (ICDR) Regulations, 2018. p.286
The company has entered into an agreement dated September 22, 2026, with the Book Running Lead Manager and a Market Maker to ensure compulsory Market Making for a minimum period of three (3) years. p.286
The company has fulfilled eligibility criteria for the Emerge platform of NSE, including the post-issue paid-up capital being less than Rs. 25 crores. p.286
The Draft Red Herring Prospectus has been filed with NSE and the company made an application to NSE for listing of its Equity Shares on the Emerge Platform of NSE. p.288
The entire pre-Issue share capital of the Company is fully paid-up and the Equity Shares proposed to be issued will be fully paid-up. p.288
The Issue consists only of a Fresh Issue of Equity Shares and there is no offer for sale of Equity Shares by any Promoter or Promoter Group. p.288
The amount for general corporate purposes mentioned in the objects of the issue does not exceed 15% of the issue size or INR 10 crore, whichever is lower of the amount being raised. p.288
The company confirms that all applicable provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, related to securities ineligible for computation of promoter contribution, have been complied with. p.290
Arrangements have been made to ensure that the promoters’ contribution will be received at least one day before the opening of the issue and that auditors’ certificates will be submitted to the Board/Exchange. p.290
Arrangements have been made to ensure that promoters’ contribution will be kept in an escrow account with a scheduled commercial bank and released along with the proceeds of the public issue. p.290
Necessary arrangements have been made to ensure that the money received pursuant to the issue is kept in a separate bank account as per Section 40 of the Companies Act, 2013, and released only after permission from all mentioned stock exchanges. p.290
The proposed activities of the issuer for which funds are being raised fall within the ‘main objects’ listed in the Memorandum of Association or charter of the issuer. p.290
All shares shall be issued in dematerialized form in compliance with the provisions of Section 29 of the Companies Act, 2013 and the Depositories Act, 1996. p.291
Undertakings have been made to comply with the regulations pertaining to advertisement in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. p.291
Agreements have been entered into with the depositaries for the dematerialisation of the specified securities of the issuer. p.292
The issuer has redressed at least ninety-five percent of the complaints received from investors till the end of the quarter immediately preceding the month of filing of the offer document with the Registrar of Companies. p.292
Undertakings have been made regarding underwriting and market making arrangements as per the requirements of Regulation 261 and 262 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. p.292
A copy of the Red Herring Prospectus and Prospectus shall be filed electronically with the SEBI through the SEBI intermediary portal in terms of the circular dated January 19, 2018. p.293
The Equity Shares have not been, and will not be, registered under the U.S. Securities Act 1933, as amended, and may not be issued or sold within the United States to 'U.S. persons' except pursuant to an exemption. p.294
The Equity Shares have not been, and will not be, registered, listed or otherwise qualified in any other jurisdiction outside India. p.294
The Equity Shares of the company are proposed to be listed on the Emerge platform of NSE, and the company obtained in principle approval from June 02, 2026, for this listing. p.294
Consents in writing from various directors, promoters, company secretary, and auditors are required and must be filed with the RoC. p.295
Statutory Auditors have agreed to provide written consent for the inclusion of their reports on 'Statement of Tax Benefits' and restated financial statements. p.295
The Equity Shares being issued are subject to provisions of various laws, including the Companies Act, SCRA, SCRR, SEBI (ICDR) Regulations, and SEBI Listing Regulations. p.299
Applicants must compulsorily apply through the ASBA Process or the Unified Payments Interface (UPI) mechanism as introduced by SEBI circulars. p.299
The Public Issue of Equity Shares was authorized by a Board resolution and a Special Resolution of the shareholders. p.299
The company shall comply with all requirements of the SEBI (ICDR) Regulations, 2018. p.300
The company shall comply with all disclosure and accounting norms as specified by SEBI from time to time. p.300
The minimum application size shall not be less than two lots in accordance with Regulation 267 (2) of the SEBI ICDR Regulations. p.301
Equity Shares to be allotted must be in Dematerialized form as per the Depositories Act, 1996 & regulations made thereunder. p.301
A tripartite agreement dated May 28, 2025, exists between NSDL, the Company, and the Registrar to the Issue. p.301
A tripartite agreement dated February 05, 2026, exists between CDSL, the Company, and the Registrar to the Issue. p.301
The minimum number of allottees in the Issue shall be 200 shareholders in accordance with Regulation 268(1) of SEBI (ICDR) Regulations, 2018. p.301
Exclusive jurisdiction for the purpose of this Issue is with the competent courts/authorities in Haryana, India. p.301
The Anchor Investor Bid/Issue Period shall be one Working Day prior to the Bid/Issue Opening Date in accordance with SEBI (ICDR) Regulations. p.302
The Bid/Issue Opening Date is scheduled for Wednesday, September 30, 2026. p.302
The Bid/Issue Closing Date is scheduled for Monday, October 05, 2026. p.302
The Book Running Lead Manager may consider participation by Anchor Investors in accordance with SEBI (ICDR) Regulations. p.302
The Book Running Lead Manager considers closing the Bid/Issue Period for QIBs one Working Day prior to the Bid/Issue Closing Date. p.302
The Registrar to the Issue shall submit details of cancelled/withdrawn/deleted applications to the SCSBs on a daily basis within 60 minutes of the Bid closure time. p.303
The Bid/Issue Period (except the Bid/Issue Closing Date) for submissions is between 10.00 a.m. and 5.00 p.m. (Indian Standard Time). p.303
The Bid/Issue Closing Date for electronic applications is between 10.00 a.m. and 4.00 p.m. (IST) for individual investors and non-individual bidders. p.303
Downward modification and cancellation of bids are not applicable to any category of bidding. p.303
The Book Running Lead Manager reserves the right to revise the Price Band during the Bid/Issue Period, with a limit of 20% on either side. p.303
Failure to receive 100% subscription within sixty (60) days of the issue closure may result in a refund of the entire subscription amount. p.305
Failure to obtain listing or trading permission from stock exchanges may result in a refund of monies received within four days of receiving intimation from the stock exchange. p.305
The number of prospective allottees to whom Equity Shares will be allotted shall not be less than 200. p.305
The Issue is 100% underwritten as per Regulation 260 of the SEBI (ICDR) Regulations, 2018. p.305
The minimum application size shall be two lots per application and the minimum application size shall be above INR 2,0. p.305
The Book Running Lead Manager shall ensure compulsory Market Making through registered Market Makers for a minimum period of 3 years from the listing date on the Emerge platform. p.306
Equity Shares in the Issue shall be allotted only in dematerialized form pursuant to Section 29 of the Companies Act, 2013. p.306
The Issue is being made in terms of Regulation 229 (2) of Chapter IX of SEBI (ICDR) Regulations, 2018, for companies with post-issue paid-up capital between ten and twenty-five crore rupees. p.308
Up to 60% of the Q1B Portion may be allocated to Anchor Investors on a discretionary basis in accordance with the SEBI (ICDR) Regulations. p.310
One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid bids at or above the Anchor Investor Allocation Price. p.310
Effective December 1, 2025, 33.33% of the Anchor Investor Portion shall be available for allocation to domestic Mutual Funds, and 6.67% for life insurance companies and pension funds, subject to valid bids. p.310
The issue is for at least 25% of the post-issue paid-up Equity share capital of the Company, as per Rule 19(2) of the SCRR read with Regulation 252 of the SEBI (ICDR) Regulations. p.310
Eventions Limited IPO: common questions
Short answers drawn from the filings above.
How big is the Eventions Limited IPO?
Eventions Limited's IPO comprises a fresh issue of 32,30,400 shares, according to its Red Herring Prospectus. The price band is ₹112.00 to ₹118.00 per share.
What are Eventions Limited's revenue and profit?
Eventions Limited reported revenue from operations of ₹100 Cr in FY26, +14.0% versus FY25. Net profit was ₹7.7 Cr (FY25: ₹5.1 Cr). Revenue grew at a compound rate of 7.3% a year from FY24 to FY26. Figures are read from the RHP, as printed there.
How much do promoters own in Eventions Limited?
Promoters hold 99.4% of Eventions Limited before the IPO. Largest holders listed: Grand Total (A+B) (100.0%); Mr. Ravi Rajak (50.0%); Mr. Cristoo Arora (49.0%).
How will Eventions Limited use the IPO money?
The fresh-issue proceeds are earmarked for: Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company (₹7.0 Cr); Investment in Subsidiary (₹1.4 Cr); To meet working capital requirements (₹19 Cr); General Corporate Purpose (amount not fixed yet).
What are the red flags in Eventions Limited's RHP?
Earlier, we looked up 16 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 5 medium and 2 low. The most notable: One search result corroborates the existence of GST proceedings involving the promoter, reporting an aggregate amount of Rs 1.7546 crore in such proceedings.… The search results confirm that Eventions Limited has filed a Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO), which is relevant to… The search results confirm that Eventions Limited has filed a DRHP and is involved in an IPO, with one result mentioning a fresh issue amount of ₹27.20 crore.… This is an automated screen, not a verdict; each finding links to its sources.
What does Eventions Limited do?
Here’s a detail about the IPO of Eventions Limited that almost nobody notices: one search result points to GST proceedings against the promoter, totaling about 1.75 crore rupees. But here’s the catch—the search results don't even confirm what those proceedings actually were.
Who manages the Eventions Limited IPO?
Book running lead managers: Corporate Professionals Capital Private Limited. Registrar to the offer: Mudra RTA Ventures Private Limited. Shares are proposed to list on NSE.
Where can I read the original Eventions Limited IPO documents?
All 1 filing for Eventions Limited (RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document.
Source documents
Every page reference on this site links to the original SEBI PDF.
