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India Exposition Mart files IPO papers for ₹94.6 crore fresh issue
The Greater Noida-based exhibition centre operator plans to use proceeds for capex and renovation. The IPO includes an OFS of up to 2.3 crore shares.
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India Exposition Mart Ltd has filed its draft red herring prospectus with SEBI for an initial public offering. The IPO includes a fresh issue of up to 75 lakh shares and an offer-for-sale of up to 2.3 crore shares from existing shareholders.
The fresh issue is expected to raise ₹94.6 crore. The company plans to use the proceeds for capital expenditure: upgrading air handling units, chillers, cooling towers, and other equipment at its India Expo Centre and Mart in Greater Noida. It also plans to renovate exhibition halls 4 and 6 and build a new exhibition hall 18. The remaining funds will go toward general corporate purposes.