The Maxposure Limited has launched its Initial Public Offering (IPO) to raise ₹20.26 through a fresh issue of 61.40 lakh shares. The subscription for the Maxposure Limited IPO will remain open from January 15, 2024 to January 17, 2024. The IPO will be listed on NSE SME on January 22, 2024.
About Company
Maxposure Limited was incorporated as Maxposure Media Group India Private Limited on August 17, 2006. The company is a pioneer in the modern media and entertainment sector, concentrating especially on the aviation sector. It provides services via several channels of distribution. Maxposure’s services include inflight entertainment, content marketing, advertising and technology.
The company’s lab facility in Bombay provides a variety of services, such as duplication, bespoke editing, encoding/transcoding in any format for any system, post-production services, and metadata development. Recently Maxposure Limited has expanded its horizons by acquiring Bluebird Advertising Pvt Ltd., which is a prominent media buying and planning agency.
As of October 31, 2023, It has 81 people on payroll. The company has offices in Delhi, Mumbai, Bengaluru, Kolkata, and has a broad sales network throughout India. It has also successfully started and overseen projects outside of India, mostly in the Middle East and the Indian subcontinent. Gulf Air (Kingdom of Bahrain), Air Arabia (Sharjah), VFS (UAE), and Jazeera Airways (Kuwait) are a few of these projects.
Objects of the Issue
The company plans to utilise the net proceeds from the issue to fund expenses to be incurred for obtaining certifications such as FAA, EASA, AeroHub and proposed products, funding working capital required to manufacture the proposed products, prepayment or repayment of loans, ordinary expenses and general corporate purposes.
IPO Details at a Glance
| Offer Dates | |
| Opening | January 15, 2024 (Monday) |
| Closing | January 17, 2024 (Wednesday) |
| Issue Details | |
| IPO Type | Book Built, Fresh Issue |
| Issue Size | 61,40,000 shares aggregating up to ₹20.26 Crores |
| Fresh Issue | 61,40,000 shares aggregating up to ₹20.26 Crores |
| Offer for Sale | None |
| Market Maker Reservation | 3,72,000 shares |
| Net offering | 57,68,000 Shares (excluding market maker reservation) |
| Face Value | ₹10 per Share |
| Price Range | ₹31 to ₹33 per share |
| Lot Size | 4000 Shares |
| Lot Amount | ₹1,32,000 |
| Holding before issue | 1,66,00,950 Shares |
| Holding after issue | 2,27,40,950 Shares |
| IPO Organizer | |
| Listing at | NSE SME |
| BRML | GYR Capital Advisors Private Limited |
| Registrar | Bigshare Services Pvt Ltd |
| Market maker | Giriraj Stock Broking |
| Reservation & Lot details | |
| – Retailer investors: Not less than 35% of net offering. Can apply for maximum 1 lot (4000 Shares). – NIIs are allotted 15% quota which must bid 2 lots minimum. – QIB investors are offered maximum 50% of the net offering. | |
| Share Allotment & listing | |
| Finalization of allotment basis | January 18, 2024 (Thursday) |
| Credit of Shares to Demat / Refunds / Unblocking of Funds | January 19, 2024 (Friday) |
| IPO Listing Date / Share Trading | January 22, 2024 (Monday) |
Company’s financials
Maxposure Limited recorded an 1.03% growth in revenue and a 1162.04% rise in profit after tax (PAT) in the financial year ending in 2023 as compared to FY2022.
| Financial Period Ending in | 30 Sep’23 | 31 Mar’23 | 31 Mar’22 | 31 Mar’21 |
| Net Worth | 3,478.21 | 3,107.38 | 2,666.17 | 2,631.21 |
| Total Assets | 5,355.21 | 4,878.51 | 4,485.18 | 4,009.97 |
| Revenue from operations | 2016.13 | 3178.92 | 3268.00 | 2015.85 |
| EBITDA | 639.99 | 707.3 | 105.53 | 118.63 |
| EBITDA Margin | 31.08% | 21.08% | 3.18% | 5.28% |
| Profit After Tax (PAT) | 370.83 | 441.21 | 34.96 | 36.22 |
| PAT Margin | 18.39% | 13.88% | 1.07% | 1.80% |
| Debt-Equity Ratio | 0.04 | 0.03 | 0.01 | 0.03 |
| Cash flow from operations | -22.02 | 71.12 | 101.58 | -191.21 |
| Reserves & Surplus | 3,146.19 | 2,775.36 | 2,334.15 | 2,299.19 |
| Total Borrowing | 462.31 | 333.76 | 293.65 | 418.52 |
| Amount in ₹ Lakhs | ||||
IPO Valuation – Key Performance Indicator
| KPI | Values |
| P/E | 12.42 |
| P/E Post IPO | 10.12 |
| D/E Ratio | 0.03 |
| Earnings Per Share (EPS) | ₹2.66 |
| Return on equity (ROE) | 14.39% |
| Return on capital employed (RoCE) | 19.55% |
| Return on Net Worth (RoNW) | 14.20% |
Note: Refer to the Maxposure IPO RHP document for more details.
