Eventions plans to raise Rs38.12 crore through its SME IPO, with a high application size potentially challenging retail investor participation, as the company looks to strengthen its working capital and repay borrowings amid expanding international operations in the MICE sector.
Eventions is set to test investor appetite when its initial public offering opens on 30 September and runs until 5 October, with a price band of Rs112-Rs118 per share. According to GoodReturns, the small-cap issue is a fresh offering of 32.30 lakh equity shares, valuing the float at roughly Rs38.12 crore at the top end of the band. The IPO will be listed on the SME platform, reflecting the smaller scale and higher entry threshold typical of such offers.
The application size is likely to be the biggest hurdle for retail buyers. With a lot size of 1,200 shares, one lot costs Rs1,41,600 at the upper end of the price band. Retail applicants must bid for at least two lots, taking the minimum investment to Rs2,83,200, while non-institutional investors must apply for at least three lots, or Rs4,24,800. Corporate Professionals Capital Private Limited is the book-running lead manager, and Mudra RTA Ventures Private Limited is the registrar.
The company says it plans to use most of the proceeds for working capital, with Rs18.80 crore set aside for that purpose. Another Rs7 crore is earmarked for repayment or prepayment of borrowings, while Rs1.40 crore will go towards its subsidiary, Gantu Online Private Limited. That mix suggests the issue is being positioned as both a balance-sheet support exercise and a source of day-to-day operating capital.
Eventions operates in the MICE business, short for meetings, incentives, conferences and exhibitions, and provides event-management services to corporate and institutional clients. Its work spans corporate events, conferences, incentive travel, virtual events and brand activations, alongside practical arrangements such as hotel bookings, travel logistics and on-site coordination. The company follows an asset-light model, relying on outside hospitality, logistics and production partners rather than owning much of the infrastructure itself.
The business also points to an international footprint, with projects linked to Spain, France, the Netherlands, Switzerland, Hungary, the United Arab Emirates, Azerbaijan, Singapore and Indonesia. Financially, total income rose from Rs87.29 crore in FY24 to Rs88.02 crore in FY25 and Rs100.62 crore in FY26, while profit after tax increased from Rs3.29 crore to Rs5.13 crore and then Rs7.72 crore over the same period. Even so, as with most events-linked businesses, results can swing with corporate spending, travel demand, seasonality and execution costs.
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