Eventions Open
What they do: The company generates revenue primarily from event and conference management services, targeting corporate clients. It recognizes revenue based on service completion and has a diversified income stream including other income sources.
By IPO Milega Research · Published
Eventions Limited shows a stable financial performance with consistent revenue growth and profitability.
- GMP (unofficial)
- N/A
- Grey market premium
- Opens
- 30 Sept
- Closes 5 Oct
- Min. investment
- ₹2,83,200
- 2400 shares
GMP is an unofficial grey market indication.
- Price band
- ₹118
- Lot size
- 2400 shares
- Min. investment
- ₹2,83,200
- Issue size
- N/A
- Open30 Sept 2026
- Close5 Oct 2026
- Allotment6 Oct 2026
- Listing8 Oct 2026
Overview
Grey market data isn't available for this issue, so the gains estimate uses fundamentals only and ignores listing-day sentiment.
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
The approximate gains potential is based on the company's strong fundamentals, including consistent revenue growth, profitability improvements, and strategic expansion plans. However, the lack of GMP data limits the precision of this estimate. The company's high-margin MICE engagements and expansion into tourism services through its subsidiary Gantu Online Private Limited are expected to drive future growth.
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.
- Achieved a revenue exceeding INR 75 crores in FY 2024-25.
Concerns5
- High dependency on a single customer contributing 42.72% of revenue.
- Sustainability of profit growth is uncertain due to reliance on repeat business.
- Fluctuations in demand for MICE services, which account for 91.29% of revenue.
- Working capital requirements may strain financial resources.
- Potential conflicts of interest within the promoter group.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,83,2002 lots, 2400 shares
- Retail Maximum2,83,2002 lots, 2400 shares
- S-HNI Minimum4,24,8003 lots, 3600 shares
- S-HNI Maximum9,91,2007 lots, 8400 shares
- B-HNI Minimum11,32,8008 lots, 9600 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2400 | 2,83,200 |
| Retail Maximum | 2 | 2400 | 2,83,200 |
| S-HNI Minimum | 3 | 3600 | 4,24,800 |
| S-HNI Maximum | 7 | 8400 | 9,91,200 |
| B-HNI Minimum | 8 | 9600 | 11,32,800 |
Timing
7.0/10The IPO timing for Eventions Open seems strategically planned to align with its recent corporate restructuring and growth trajectory. The choice of NSE Emerge as the platform indicates a focus on attracting investors interested in emerging companies. The market conditions appear supportive, with a clear structure for the IPO process and expert endorsements, suggesting a well-prepared entry into the public market.
- Time to market
- The company has recently converted to a public limited entity and is leveraging this transition to access capital markets, which suggests a well-timed move to support its growth ambitions. The structured approach and expert endorsements further enhance the timing's favorability.
- 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
- 30 Sept 2026IPO Opens
- 5 Oct 2026IPO Closes
- 6 Oct 2026Basis of Allotment
- 7 Oct 2026Refunds Initiated
- 7 Oct 2026Credit to Demat Account
- 8 Oct 2026Listing Date
Financials
7.0/10- 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
- 42.58
- Debt to equity
- 0.89
- 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 croresEventions 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. However, the debt-to-equity ratio suggests a moderate level of leverage, which should be monitored.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks3
- Market risks1
- Operational risks1
- Regulatory risks2
High customer concentration and regulatory compliance issues pose significant risks, despite strong profit growth.
How the company offsets these
Diversifying customer base and enhancing regulatory compliance can mitigate key risks.
Financial risks3
- High dependency on a single customer contributing 42.72% of revenue.
- Sustainability of profit growth is uncertain due to reliance on repeat business.
- Working capital requirements may strain financial resources.
Market risks1
- Fluctuations in demand for MICE services, which account for 91.29% of revenue.
Operational risks1
- Potential conflicts of interest within the promoter group.
Regulatory risks2
- Outstanding tax demands and GST compliance issues.
- Consumer complaint alleging service deficiency could lead to financial liability.
Performance
7.0/10Eventions Limited, operating in the MICE and event management sector, has shown consistent revenue growth and profitability improvements over the past three fiscal years. The company has a strong focus on high-margin engagements, particularly in the MICE segment, which contributes significantly to its revenue. However, it faces competition in a fragmented market and relies heavily on a few key customers, which poses a risk to its revenue stability.
- Historical growth
- consistent, moderate
- Market comparison
- Eventions Limited operates in a competitive and fragmented market with established players. It has a strong position in the MICE segment but faces risks from new entrants and pricing pressures.
- Future potential
- The company is expected to continue its growth trajectory, driven by high-margin MICE engagements and expansion into tourism services.
- Operational consistency
- The company has shown consistent revenue growth and profitability improvements, but its reliance on a few key customers poses a risk to revenue stability.
- Experience
- The promoters, Mr. Cristoo Arora and Mr. Ravi Rajak, have significant control with 99.39% pre-issue equity shareholding, indicating strong leadership.
- Track record
- No defaults or significant financial issues reported, suggesting a stable management track record.
Key achievements
- 01Acquired a 70% stake in Gantu Online Private Limited, expanding into tourism and travel services.
- 02Increased authorized share capital significantly, indicating growth and expansion plans.
- 03Achieved a revenue exceeding INR 75 crores in FY 2024-25.
Flexibility
8.0/10Eventions Limited has a strong market adaptability, evidenced by its ability to execute events across diverse geographies, including Europe, the Middle East, and Asia-Pacific. The company's focus on high-value corporate engagements and its recognition in the industry further enhance its adaptability to market demands.
The company shows financial stability with increasing revenue from operations and improving EBITDA margins over the years. However, the high concentration of revenue from a few clients and a significant debt-to-equity ratio may pose risks.
The company's asset-light model and ability to coordinate with a wide network of vendors and partners allow it to manage events of varying scales efficiently, demonstrating high operational agility.
Eventions Limited demonstrates strong flexibility and adaptability in the MICE and event management sector, leveraging an asset-light model and a diversified service offering to maintain operational agility and market adaptability.
- Product diversification
- Eventions Limited offers a range of services including MICE, corporate events, FIT services, and brand activations, indicating a well-diversified product portfolio.
- Future adaptability
- The company's strategic focus on expanding its MICE business, strengthening client relationships, and investing in its subsidiary Gantu for B2C travel services positions it well for future adaptability.
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.