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Eventions
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Eventions

What they do: The company generates revenue primarily through event and conference management services, targeting corporate clients. It operates on a service-based model, recognizing revenue as services are rendered.

By IPO Milega Research · Published

Our score
6.6/10Strong

Eventions Limited shows a stable financial performance with consistent revenue growth and profitability.

GMP (unofficial)
+0%
₹0 a share
Opens
30 Sept
Closes 5 Oct
Min. investment
₹2,83,200
2400 shares

GMP is an unofficial grey market indication.

Price band
₹112-118
Lot size
2400 shares
Min. investment
₹2,83,200
Issue size
38.12 Cr.
Issue timeline
  1. Open30 Sept 2026
  2. Close5 Oct 2026
  3. Allotment6 Oct 2026
  4. Listing8 Oct 2026

Overview

Estimated listing from GMP (unofficial)

₹118 (+0.00%)

GMP trend

Unofficial grey market quotes, times in IST

Outer ring: estimated gain

How the score adds up

The overall score is the average of these five, nudged by QIB demand once bidding closes.

  • Financials7.0
  • Performance7.0
  • Flexibility8.0
  • Timing7.0
  • Risk4.0
Estimated gain (fundamentals only)
0%

The Grey Market Premium (GMP) is currently at 0.00%, indicating no expected premium on listing. Despite the company's strong financial performance and adaptability, the high customer concentration and reliance on MICE services pose significant risks, which may deter investor enthusiasm.

Strengths3

  • Acquired a 70% stake in Gantu Online Private Limited, expanding into tourism and travel services.
  • Increased authorized share capital significantly, indicating growth and expansion plans.
  • Successfully converted from a private to a public company, enhancing its market presence.

Concerns5

  • High customer concentration with 42.72% revenue from one client.
  • Dependence on MICE services for 91.29% of revenue.
  • Significant working capital requirements.
  • Potential conflicts of interest with promoter group entities.
  • Outstanding consumer litigation with potential financial impact.

Who gets shares

Quota split
  • QIB50%
  • NII15%
  • Retail35%
Application size
  • Retail Minimum2,83,200
    2 lots, 2400 shares
  • Retail Maximum2,83,200
    2 lots, 2400 shares
  • S-HNI Minimum4,24,800
    3 lots, 3600 shares
  • S-HNI Maximum9,91,200
    7 lots, 8400 shares
  • B-HNI Minimum11,32,800
    8 lots, 9600 shares

Timing

7.0/10

The timing of the IPO appears favorable given the company's recent transition to a public limited entity, which may attract investors looking for growth opportunities in emerging companies. The use of the NSE Emerge platform aligns with the company's size and growth stage, potentially appealing to investors interested in SMEs. However, the overall market conditions and investor sentiment towards SMEs at the time of the IPO will play a crucial role in its success.

Time to market
The company's transition to a public limited entity and the strategic use of the NSE Emerge platform suggest a well-timed market entry. This move is likely to attract investors interested in emerging companies, particularly in the SME sector. The timing aligns with the company's growth strategy and capital raising needs.
How allotment works
Basis of allotment finalized and shares credited to demat
Market timing
Favourable
Time to market
8.0
Listing on
NSE SME

Key milestones

  1. 30 Sept 2026IPO Opens
  2. 5 Oct 2026IPO Closes
  3. 6 Oct 2026Basis of Allotment
  4. 7 Oct 2026Refunds Initiated
  5. 7 Oct 2026Credit to Demat Account
  6. 8 Oct 2026Listing Date

Financials

7.0/10
Period ended 2026
Change against 2025
Revenue
₹101 Cr
+14.3%
Profit after tax
₹7.72 Cr
+50.5%
Net margin
7.7%
+1.8 pts
Assets
₹50.63 Cr
+113.0%
Return on equity
42.6
Debt to equity
0.53
Current ratio
1.56
Revenue CAGR
7.5%
ROCE
48.76%
Return on net worth
55.16%
NAV per share (₹)
20.92

Financial performance trend

Amount ₹ in crores

Eventions Limited shows a stable financial performance with consistent revenue growth and profitability. The company has a strong asset base and manageable liabilities, indicating a solid financial position.

Risk

4.0/10

Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.

Where the risks sit

  • Financial risks5
  • Market risks1
  • Operational risks1

High customer concentration and reliance on MICE services pose significant financial and operational risks.

How the company offsets these

Diversifying customer base and revenue streams can reduce dependency risks.

Financial risks5

  • High customer concentration with 42.72% revenue from one client.
  • Dependence on MICE services for 91.29% of revenue.
  • Significant working capital requirements.
  • Outstanding consumer litigation with potential financial impact.
  • TDS and GST-related tax demands and penalties.

Market risks1

  • Revenue volatility due to reliance on repeat engagements.

Operational risks1

  • Potential conflicts of interest with promoter group entities.

Performance

7.0/10

Eventions Limited, operating in the MICE and event management sectors, has shown consistent revenue growth and profitability improvements over the past three fiscal years. The company has effectively leveraged its MICE segment, which constitutes the majority of its revenue. However, it faces challenges from a fragmented market and dependency on a few key clients.

Historical growth
consistent, moderate
Market comparison
Eventions Limited operates in a competitive and fragmented market, with established players and new entrants. The company's reliance on repeat clients and a few key customers poses a risk compared to peers with more diversified client bases.
Future potential
The company is expected to continue its growth trajectory, driven by the expanding MICE industry and its strategic acquisitions.
Operational consistency
Eventions Limited has maintained a consistent growth pattern, with increasing revenues and profits over the past three years, supported by strategic focus on high-margin international events and acquisitions.
Management quality
8.0/10
Experience
The management team has demonstrated capability in scaling operations and managing financial growth, as evidenced by the company's consistent revenue and profit increases.
Track record
The management has a strong track record of financial performance, with increasing revenues and profits over the past three years.

Key achievements

  1. 01Acquired a 70% stake in Gantu Online Private Limited, expanding into tourism and travel services.
  2. 02Increased authorized share capital significantly, indicating growth and expansion plans.
  3. 03Successfully converted from a private to a public company, enhancing its market presence.

Flexibility

8.0/10
Market adaptability
8.0/10

The company has a strong presence in both domestic and international markets, executing events across Europe, the Middle East, and Asia-Pacific. Its ability to adapt to different market demands is evidenced by its diverse client base across various industries, including banking, insurance, and FMCG.

Financial stability
7.0/10

The company shows a solid financial performance with increasing revenue and EBITDA margins over the years. However, the high concentration of revenue from a few clients poses a risk to financial stability.

Operational agility
9.0/10

Eventions Limited operates through an asset-light model, allowing it to scale operations efficiently based on project requirements. This model provides significant operational flexibility and agility in managing events of varying scales and complexities.

Eventions Limited demonstrates strong flexibility and adaptability in the MICE and event management sector, leveraging an asset-light model and a diverse service offering to cater to a wide range of corporate clients across multiple geographies.

Product diversification
The company offers a wide range of services, including MICE, corporate events, FIT services, and brand activations, catering to both B2B and B2C segments through its subsidiary Gantu Online Private Limited.
Future adaptability
The company's strategic focus on expanding its MICE business and strengthening client relationships, along with its investment in the Gantu travel platform, positions it well for future adaptability and growth in both B2B and B2C markets.

The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.