Eventions IPO: GMP, Price Band, Financials & Review of the ₹38 Cr SME Issue

Eventions Ltd., a Gurugram-based MICE (Meetings, Incentives, Conferences and Exhibitions) and event management company, is launching a ₹38.12 crore SME IPO. The book-built issue is entirely a fresh issue of 32.30 lakh shares, with no offer for sale. It opens on 30 September 2026 and closes on 5 October 2026, with a price band of ₹112 to ₹118 per share. The shares are proposed to list on NSE Emerge, the NSE SME platform.

Eventions IPO Details

Individual investors must apply for a minimum of 2 lots (2,400 shares), which costs ₹2,83,200 at the upper price band. Small HNIs need at least 3 lots (₹4,24,800), and big HNI applications start at 8 lots (₹11,32,800). Of the net offer of 30,68,400 shares, 18,55,200 shares (60.46%) are for retail/individual investors, 10,51,200 shares (34.26%) for NIIs and 1,62,000 shares for QIBs. For the key differences between SME and mainboard issues, see SME IPO vs mainboard IPO.

About Eventions

Incorporated in December 2020, Eventions plans, coordinates and executes corporate events, conferences and related activities, mainly for corporate and institutional clients. Its services include MICE, corporate events, conferences, incentive travel programmes, virtual events, Free Independent Travel (FIT) services, and brand and marketing activations, covering venue coordination, travel and stay, logistics and on-site execution.

The company works mainly on a B2B model and also provides execution support to other event management companies for large or multi-location assignments. It follows an asset-light model, relying on hospitality, logistics and production partners.

Key facts as per the RHP:

• Events executed across India and abroad, including Spain, France, the Netherlands, Switzerland, Hungary, the UAE, Azerbaijan, Singapore and Indonesia
• 107 events with individual billing value above ₹50 lakh across FY24 to FY26, serving more than 50 corporate clients
• The MICE segment contributed 91.29%, 91.77% and 87.39% of revenue from operations in FY26, FY25 and FY24 respectively
• Clients come from sectors such as banking, insurance, FMCG and event management
• Subsidiary Gantu Online Private Limited focuses on B2C travel and customised travel experiences
• A workforce of 35 employees as on 31 March 2026

Financial Performance

Figures in ₹ crore (restated):

• Total income was nearly flat in FY25 (up about 1%) and grew about 14% in FY26.
• PAT grew much faster, rising about 56% in FY25 and about 50% in FY26, as net margin (PAT to total income) improved from about 3.8% in FY24 to about 7.7% in FY26.
• Total borrowings rose to ₹9.44 crore in FY26 from ₹3.57 crore, and total assets more than doubled in the same year.

Key Ratios & Valuation

At the upper band, the post-issue P/E is about 18.61x. Recently listed SME IPOs in the broader consumer services space were priced at P/Es of 22.22x (Mopshop Distribution) and 11.66x (Safecure Services). These are not direct peers, so treat this as indicative. The high ROE also reflects a small equity base, which is worth keeping in mind. See IPO valuation ratios explained.

Objects of the Issue

The net proceeds are proposed to be used for:

1. Repayment or pre-payment of certain borrowings: ₹7.00 crore
2. Investment in subsidiary: ₹1.40 crore
3. Working capital requirements: ₹18.80 crore
4. General corporate purposes

Shareholding & Promoters

The promoters are Cristoo Arora, Ravi Rajak and Kirat Ahluwalia. Promoter and promoter group holding will fall from 99.96% before the issue to 73.46% after it. Since there is no OFS, promoters are not selling shares; the dilution comes from new shares, with total shares rising from 89,53,509 to 1,21,83,909.

Eventions IPO GMP Today

No active grey-market premium had been reported for Eventions as of 29 September 2026 (GMP ₹0). GMP is an unofficial, unregulated grey-market indicator that changes daily and should not be treated as a forecast. Track the live GMP and read how accurate IPO GMP is.

Strengths

• Asset-light business model
• End-to-end event management capabilities and an integrated service model for MICE and corporate events
• Execution experience across multiple geographies in India and abroad
• Established corporate client relationships with repeat engagements
• Experienced promoter and management team
• Improving profitability, with PAT up about 2.3 times between FY24 and FY26

Risks to Consider

• Segment concentration: over 91% of revenue from operations came from the MICE segment in FY25 and FY26, so the business depends heavily on corporate event and incentive spending.
• Slow top-line growth: total income grew only about 1% in FY25 and 14% in FY26; recent profit growth has come mainly from margin expansion, which may not repeat.
• Thin margins: a PAT margin of about 7.7% leaves limited buffer against event cost overruns.
• Rising debt: borrowings nearly tripled in FY26, though ₹7 crore of proceeds is earmarked for repayment.
• Short track record: the company was incorporated in December 2020 and has a small team of 35 employees.
• Valuation: the post-issue P/E of 18.61x and price-to-book of 5.64x are not low for an SME business of this size.
• SME liquidity risk: SME shares trade in large lots and can see low volumes after listing, even with a market maker. Read about SME IPO liquidity risks.

How to Check Allotment Status

Allotment is expected to be finalised on 6 October 2026. Mudra RTA Ventures Private Limited is the registrar, and you can check your status on the registrar's website or via our allotment status page. To understand the lottery process for SME issues, see how IPO allotment works.

Disclaimer: This article is for educational purposes only and is not investment advice. GMP is unofficial and can change quickly. Read the RHP and consult a SEBI-registered adviser before investing.