Over the past one year, many Small and Medium Enterprise (SME) companies have shown an increased interest in raising funds through an IPO. The latest in a long line of upcoming IPOs in the SME sector is from Party Cruisers Ltd. If you’re interested in getting to know more about the Party Cruisers Ltd IPO details, continue reading.
About the company
Party Cruisers Ltd is a company that’s been in business since the year 1994. The company is in the business of providing event management and wedding planning services. Party Cruisers Ltd service portfolio includes pre-wedding activities, post-wedding activities, designing and decor, staffing, entertainment services, and more.
The company provides its wedding planning and management service through two brands - ‘Vivaah’ and ‘Vows-Away and Beyond’. On the other hand, Party Cruisers’ event management services are provided under its Event Factory brand. That’s not all. The company also has another brand named ‘Live Space’ that is involved in venue designing and set construction.
More than 75% of the revenues generated by Party Cruisers Ltd comes from its wedding planning and management services, whereas the rest of the revenue of the company comes from its event management service segment.
Party Cruisers Ltd IPO details
Now that you’re aware of the company, let’s take a look at some of the important details of this new IPO such as the Party Cruisers Ltd IPO date and the Party Cruisers Ltd IPO share price.
Party Cruisers Ltd IPO date
The date of opening of the latest IPO from Party Cruisers Ltd has been notified as February 22, 2021. After staying open for around 3 days, the issue would come to a close on February 25, 2021.
Party Cruisers Ltd IPO issue size
The total issue size of the upcoming IPO from Party Cruisers Ltd has been notified to be around 1,520,000 equity shares, which is likely to net the company around Rs. 7.75 crores.
Party Cruisers Ltd IPO share price
Unlike the other latest IPOs, the Party Cruisers Ltd IPO is a fixed price issue and not a book built issue. And so, the company has decided to set the share price of the new IPO at Rs. 51 per equity share.
Party Cruisers Ltd IPO listing
The company’s shares are likely to be listed under the EMERGE platform of the National Stock Exchange (NSE), which is dedicated solely towards SME companies.
Party Cruisers Ltd IPO objectives
Party Cruisers Ltd has notified that it would use the net proceeds from the IPO issue towards the furtherance of the following objectives.
- Expansion of business through strategic investments
- Working capital requirements
- Other general corporate purposes.
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