Maxposure’s IPO Sets Records: Oversubscribed 904 Times on Last Day, GMP Soars to 170%

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Maxposure’s IPO has achieved unprecedented success, witnessing an astounding oversubscription of 904 times on its last day. The Grey Market Premium (GMP) has surged to nearly 170%, reflecting immense investor confidence.

New Delhi, January 17, 2024 – In a resounding success for Maxposure’s Initial Public Offering (IPO), the bidding process concluded with an overwhelming response, as the SME IPO was subscribed a staggering 904 times on the final day. The remarkable demand was primarily fueled by enthusiastic participation from non-institutional and retail investors.

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The IPO, featuring a completely fresh equity issue of 61.4 lakh shares, aimed to raise Rs 20.26 crore for Maxposure. The net proceeds generated from the offering are earmarked for various purposes, including funding expenses related to certifications from regulatory bodies, meeting working capital requirements, debt repayment, and general corporate needs.

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Both non-institutional investors (NIIs) and retail investors displayed robust interest, subscribing to their respective categories over 1000 times. The Qualified Institutional Buyers (QIB) segment also saw substantial demand, with the issue being oversubscribed more than 300 times.

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Maxposure, a diversified new-age media and entertainment company, operates across multiple distribution platforms, providing comprehensive services in inflight entertainment, content marketing, technology, and advertising. The company’s success is attributed to its ability to offer tailored solutions, ranging from curated entertainment on In-Flight Entertainment (IFE) systems to innovative inflight magazines and strategic ambient advertising.

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In the unlisted market, Maxposure’s shares are commanding a significant premium of Rs 59, reflecting the strong subscription demand. The IPO was priced at Rs 33 at the upper end, emphasizing the confidence investors have placed in the company.

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For the period ending September 2023, Maxposure reported robust financials, with revenues reaching Rs 20.16 crore and a net profit of Rs 3.70 crore. The company’s strategic focus on diverse offerings, coupled with its experience and innovation, positions it as a promising player in the ever-evolving media and entertainment landscape.

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Maxposure’s IPO has emerged as a blockbuster, witnessing an astonishing 904 times oversubscription on the closing day, showcasing the tremendous investor appetite for the company’s offerings. The buoyant response was particularly driven by robust demand from non-institutional and retail investors, underlining the widespread interest in Maxposure’s prospects.

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The IPO, constituting an entirely fresh equity issue of 61.4 lakh shares, sought to mobilize Rs 20.26 crore. The capital raised will play a crucial role in financing various aspects of Maxposure’s operations, including expenses related to certifications from regulatory bodies, working capital needs, debt settlement, and general corporate initiatives.

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Investors displayed an exceptional level of interest across the board, with both the non-institutional and retail categories witnessing subscriptions exceeding 1000 times. The Qualified Institutional Buyers (QIB) segment also witnessed robust participation, with oversubscription exceeding 300 times.

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Maxposure, positioned as a dynamic new-age media and entertainment company, offers a comprehensive suite of services spanning inflight entertainment, content marketing, technology, and advertising. Anchored by four pillars—customized solutions, inflight entertainment, content marketing, and advertising—the company has carved a niche for itself in delivering diverse and innovative solutions.

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Trading in the unlisted market reveals a remarkable premium of Rs 59 on Maxposure’s shares, underscoring the strong demand and positive sentiment surrounding the IPO. Priced at Rs 33 at the upper end, the IPO has clearly struck a chord with investors who recognize the company’s potential.

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Maxposure’s financial performance for the period ending September 2023 further supports its growth trajectory, with revenues reaching Rs 20.16 crore and a net profit of Rs 3.70 crore. The company’s ability to provide strategic and innovative advertising platforms, coupled with its digital marketing services, positions it as a key player in the evolving landscape of media and entertainment. Investors are evidently optimistic about Maxposure’s future prospects, as reflected in the overwhelming response to its IPO.

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