1, March, 2024
HomeBusinessMaxposure IPO Surges Over 900 Times: A Milestone in Digital Media Expansion

Maxposure IPO Surges Over 900 Times: A Milestone in Digital Media Expansion

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Maxposure, the Mumbai-based digital media and entertainment company, has achieved a remarkable milestone as its initial public offering (IPO) was oversubscribed by over 900 times on the final day of the offering.

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This successful IPO aims to raise Rs. 20.26 crore, making it a significant event in the digital media landscape.

The subscription rate of 904.64 reflects the strong investor interest, with a total of 401.66 crore equity shares purchased against an offer size of 44.4 lakh shares. This remarkable subscription rate places Maxposure as the second-highest, following Kay Cee Energy & Infra’s SME IPO, which achieved a subscription rate of over 959 times. In the grey market, Maxposure shares are trading at a premium of over 180%.

Retail investors played a substantial role, contributing to a subscription rate of over 1,000 times. The IPO’s price band was set at Rs. 31-33 per share, and it comprised a fresh issue. Non-institutional investors (NIIs) subscribed 1,947.97 times, while qualified institutional buyers (QIBs) showed strong interest with a subscription rate of 162.34 times.

Maxposure has strategic plans for utilizing the IPO proceeds, including obtaining certifications from the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) for its Wireless Streaming Server (AeroHub) and Patented Inviseo tray table. The company will also allocate funds for working capital related to manufacturing, debt repayment, and general corporate purposes.

The IPO listing details reveal that the basis of allotment will be finalized by January 18, with shares credited to investors’ demat accounts by January 19. Trading on the NSE Emerge platform is scheduled to commence on January 22, marking an exciting chapter for Maxposure and its investors.

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Maxposure Limited, established in 2006, is recognized for providing tailored media and entertainment services across diverse platforms. With expertise in inflight entertainment, content marketing, technology, and advertising, the company’s Mumbai lab facility offers a comprehensive range of services, making it a key player in the evolving digital media landscape.

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