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Propshop Events and Exhibitions Ltd IPO
Propshop Events and Exhibitions Ltd
₹2,60,000 /4000 sharesMinimum investment
IPO details
Minimum investment
₹2,60,000
Price range
₹65 - ₹69
Lot size
2,000
Issue size
28.57 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
27 Jul 2026
IPO open date
29 Jul 2026
IPO close date
30 Jul 2026
Allotment date
30 Jul 2026
Funds unblock or debit
3 Aug 2026
Tentative listing date
About
Founded in
2019
MD/CEO
Mr Prathamesh S Pusalkar
Parent organisation
Propshop Events and Exhibitions Ltd
Propshop Events & Exhibitions Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company has expanded its presence across multiple international exhibition markets in a relatively short period. Since its incorporation in 2019, it claims to have executed projects across countries including the US, UK, Germany, Dubai, Singapore, and Spain. The number of international markets served increased from 11 in FY23 to 17 in FY25.
The company claims to operate an asset-light business model that allows it to scale without significant investment in fixed assets. Instead of owning fabrication machinery and permanent facilities, it rents infrastructure and equipment on a project basis. This approach is intended to provide operational flexibility while optimising working capital and cash flows.
The company claims to have built a global execution network supported by local subcontractors and in-house project management. As of FY25, it had 36 active subcontractors globally and delivered 381 exhibition booths worldwide. It states that this model helps execute projects across different geographies while adapting to local regulations and market requirements.
The company has broadened both its client base and industry reach over the last three financial years. The number of clients served increased from 145 in FY23 to 313 in FY25, while the number of industry sectors served rose from 17 to 22 during the same period. Its clientele includes industries such as industrial machinery, building materials, healthcare, chemicals, media, and food & beverages.
The company claims to have an in-house marketing and branding team that works alongside clients during the booth design process. According to the prospectus, the team is involved in concept development, branding, spatial planning, and design to align exhibition booths with clients’ marketing objectives before fabrication and installation.
The company has reported strong financial growth over the last three financial years. Revenue from operations increased from Rs 25.91 crore in FY23 to Rs 30.51 crore in FY24 and Rs 51.52 crore in FY25, while profit after tax rose from Rs 0.97 crore to Rs 2.19 crore and Rs 6.32 crore during the same period. The company also reported an improvement in PAT margin from 3.74% to 12.27%.
The company is led by promoters and senior management with experience in exhibition projects, marketing, project management, human resources, finance, and governance. According to the prospectus, the Chairman and Managing Director has over a decade of experience in marketing, project management, and entrepreneurship, supported by a management team with expertise in project execution, finance, and administration.
The company’s domestic revenue is heavily concentrated in Gujarat, Maharashtra, and Karnataka, which together contributed Rs 36.05 crore (74.79%), Rs 24.26 crore (80.44%), and Rs 21.99 crore (85.40%) of its domestic revenue in FY25, FY24, and FY23, respectively. Any adverse economic, political, social, regulatory, or natural developments in these states could hurt the company’s business, financial condition, cash flows, and results of operations.
The company is significantly dependent on third-party subcontractors for executing its exhibition booth projects. Revenue generated through subcontracted work accounted for Rs 47.45 crore (92.11%), Rs 23.03 crore (75.48%), and Rs 16.68 crore (64.40%) in FY25, FY24, and FY23, respectively. Any failure by these subcontractors to meet quality standards, delivery timelines, or contractual obligations, or disruption in their services, could adversely affect the company’s operations, profitability, reputation, and financial performance.
The company reported negative cash flow from operating activities of Rs 0.09 crore in FY24, primarily due to changes in working capital, despite remaining positive in FY25 and FY23. According to the prospectus, the negative operating cash flow was mainly driven by higher working capital requirements. If the company continues to experience adverse working capital movements or negative operating cash flows in the future, it could affect its liquidity, business operations, growth plans, and financial condition.
A significant portion of the company’s domestic revenue is generated from the West zone, which contributed Rs 32.86 crore (68.17%), Rs 20.31 crore (67.34%), and Rs 16.06 crore (62.39%) of domestic revenue in FY25, FY24, and FY23, respectively. Any adverse economic, political, regulatory, social, or competitive developments in this region could hurt the company’s business, financial condition, cash flows, and results of operations.
The company’s business is dependent on a limited number of key customers. Its top 10 customers contributed Rs 9.92 crore (19.25%), Rs 11.47 crore (37.59%), and Rs 12.03 crore (46.42%) of revenue from operations in FY25, FY24, and FY23, respectively. The company also does not have long-term commitment agreements with these customers. Any loss of key customers, reduction in their orders, or cancellation of purchase orders could adversely affect the company’s revenue, business operations, and financial condition.
The company, its promoters, directors, key managerial personnel, senior management personnel, and group company are involved in certain outstanding legal proceedings. Any adverse outcome in these litigations could adversely affect the company’s business, financial condition, reputation, cash flows, and results of operations.
As of FY25, the company had trade receivables of Rs 6.05 crore, compared to Rs 1.74 crore in FY24 and Rs 2.74 crore in FY23. Any delay or failure by customers to make payments, particularly where credit periods are extended, could adversely affect the company’s working capital, cash flows, and financial condition.
The company relies on third-party suppliers for plywood, commercial ply, nylon carpet rolls, and other fabrication materials, without entering into long-term or exclusive supply agreements. Its top 10 suppliers accounted for Rs 18.55 crore (51.05%), Rs 13.87 crore (58.45%), and Rs 11.83 crore (51.10%) of its operating expenses in FY25, FY24, and FY23, respectively. Any disruption in the supply of these materials, increase in their prices, or loss of key suppliers could adversely affect the company’s project execution, profitability, cash flows, and financial condition.
Application details
For Propshop Events & Exhibitions IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹65 - ₹69 | ₹2 - ₹5 Lakhs | 2000 |