Maxposure IPO will open for subscription on January 15. Here’s what you need to know

Maxposure, a media and entertainment services company, is preparing for an initial public offering (IPO), with the SME issue scheduled to open for subscription on January 15.

According to primary market experts, the company has set the price band for its upcoming public issue at Rs 31 to Rs 33 per share, with a face value of Rs 10 per share. The issue created in this book is worth 20.26 billion rupees and consists of a total new issue of 61.4 million shares.

The minimum size for application is 4000 shares, requiring a minimum investment of Rs 132,000 for retail investors. For High Net Worth Individuals (HNIs), the minimum investment size is 2 lots (8,000 shares) amounting to Rs 264,000.

The allotment for the Maxposure IPO is expected to be completed on Thursday, January 18, with the shares listed on the NSE SME account on Monday, January 22.

Prakash Johari, Chairman and Managing Director of Maxposure Limited on the IPO, said, “We are proud to be a leader in the new age technology-driven media and entertainment industry, with a focus on the aviation market”.

“Our commitment to quality and technological innovation sets us apart. We are the only full-service inflight entertainment content provider in India and have entered the highly regulated aviation market with two high-margin products: a wireless streaming server and the globally patented Inviseo. tray table for airlines,” he added.

GYR Capital Advisors is the bookrunner and lead agent for the Maxposure IPO, while Bigshare Services will act as the registrar. Giriraj Stock Broking is the market maker for the Maxposure IPO.

IPO subscription

About 50 percent of the issue is reserved for qualified institutional buyers (QIBs), no less than 35 percent for retail investors, and no less than 15 percent for high net worth individuals (HNIs).

Maxposure Limited specializes in providing personalized media and entertainment services across multiple platforms, including in-flight entertainment, content marketing, technology and advertising. The company’s Mumbai-based lab provides services such as custom editing, metadata creation, dubbing, audio optimization, encoding and conversion, and post-production.

Between the financial years ending March 31, 2023 and March 31, 2022, Maxposure Limited reported a 1.03 percent increase in revenue and a whopping 1162.04 percent increase in profit after tax (PAT).

The net proceeds from the IPO are intended to be used for various purposes, including obtaining certification from the Federal Aviation Administration (“FAA”) and the European Union Aviation Safety Agency (“EASA”) for the wireless streaming server (“AeroHub”) and the patented Inviseo tray table. In addition, the fund will support capital requirements for the production of the proposed product, prepayment or repayment of outstanding loans, and general corporate purposes.