Maxposure Limited is set to launch its Initial Public Offering (IPO) as a book-built issue, aiming to raise Rs 20.26 crores. The IPO comprises an entirely fresh issue of 61.4 lakh shares.
**Key Details of Maxposure IPO:**
– **Issue Size:** The IPO is a book-built issue with a total size of Rs 20.26 crores, consisting of a fresh issue of 61.4 lakh shares.
– **Price Band:** Maxposure IPO price band is set at ₹31 to ₹33 per share.
– **Lot Size:** The minimum lot size for an application is 4000 shares.
– **Minimum Investment:** Retail investors need a minimum investment of ₹132,000, while HNI investors need to invest in 2 lots (8000 shares), amounting to ₹264,000.
– **Book Running Lead Manager:** GYR Capital Advisors Private Limited is the book running lead manager.
– **Registrar:** Bigshare Services Pvt Ltd is the registrar for the issue.
– **Market Maker:** Giriraj Stock Broking is the market maker for Maxposure IPO.
– **Listing Date:** The IPO is expected to list on NSE SME on Monday, January 22, 2024.
**IPO Timeline (Tentative Schedule):**
– IPO opens on January 15, 2024, and closes on January 17, 2024.
– Basis of Allotment: Thursday, January 18, 2024.
– Initiation of Refunds: Friday, January 19, 2024.
– Credit of Shares to Demat: Friday, January 19, 2024.
– Listing Date: Monday, January 22, 2024.
– Cut-off time for UPI mandate confirmation: 5 PM on January 17, 2024.
**Promoter Holding:**
– The promoters of the company are Prakash Johari and Sweta Johari.
– Shareholding pre-issue: 84.35%
– Shareholding post-issue: 61.58%
**Reservation Details:**
– QIB Shares Offered: Not more than 50% of the Net Issue
– Retail Shares Offered: Not less than 35% of the Net Issue
– NII (HNI) Shares Offered: Not less than 15% of the Net Issue
**About Maxposure Limited:**
Incorporated in August 2017, Maxposure Limited provides personalized media and entertainment services across various platforms. The company specializes in Inflight Entertainment, Content Marketing, Technology, and Advertising.
Maxposure operates a Mumbai-based lab facility offering a range of services such as custom editing, metadata creation, duplication, audio enhancement, encoding/transcoding in any format for any system, and post-production services.
The company’s services are categorized into four main groups: inflight entertainment, content marketing, technology, and advertising. Maxposure has a wide sales network across India and established offices in Delhi, Mumbai, Bengaluru, and Kolkata. It has also successfully launched and managed projects outside India, particularly in the Indian subcontinent and the Middle East.
During the three-month period ending September 30, 2023, and the financial years 2023, 2022, and 2021, the company earned revenues of ₹1726.28 lakhs, ₹2835.08 lakhs, ₹2815.85 lakhs, and ₹1940.76 lakhs, respectively, from domestic and international operations.
As of October 31, 2023, Maxposure Limited has 81 employees on its payroll.
**Financial Information (Restated):**
– Maxposure Limited’s revenue increased by 1.03%, and profit after tax (PAT) rose by 1162.04% between March 31, 2023, and March 31, 2022.
**Key Performance Indicators:**
– ROE: 14.39%
– ROCE: 19.55%
– Debt/Equity: 0.03
– RoNW: 14.20%
– P/BV (Price-to-Book Value): 1.59
**Objects of the Issue:**
The Net Proceeds from the Issue will be utilized for:
1. Funding expenses for obtaining certifications from the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) for Wireless Streaming Server (“AeroHub”) and Patented Inviseo tray table.
2. Funding working capital requirements for manufacturing the Proposed Products and working capital requirements in the ordinary course of business.
3. Prepayment or repayment of all or a portion of certain outstanding borrowings.
4. General Corporate Purposes.
**IPO Review:**
[Dilip Davda] The company’s H1-FY23 and FY23 bottom lines are on a negative note. Considering this, the issue appears to be fully priced. The review suggests a cautious approach.
**Prospectus:**
Detailed information about the IPO can be found in the Maxposure IPO Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP).
