Maxposure Limited's IPO Receives Record-Breaking Subscription in NII and QIB Category, Highest in SME History
18.01.2024 - 09:31:14
Business Wire IndiaMaxposure Limited, a pioneering force in the new-age media and entertainment sector with a distinct focus on the aviation market, has achieved remarkable success with its Rs 20.26 crore Initial Public Offering (IPO) with record-breaking subscription in NII (Non-Institutional Investor) and QIB (Qualified Institutional Buyer) category, a highest in SME history.
On January 17th, the final day of the issue, the IPO was oversubscribed by 987.47 times, calculated after the exclusion of the market maker and anchor investor portion equity shares. The subscription in NII and QIB portion were 1981.4 times and 162.35 times, respectively, which is more than the previous highest-ever subscription in Kay Cee Energy and Infra Issue, which closed on January 2, 2024.
With 5,29,528 applications, investors had bid for 401.70 crore equity shares against an offer size of 40.68 lakh, reporting a total procurement of Rs. 13,256.21 crore. The company will finalise the basis of allotment by January 18th, the shares will be credited to the demat accounts of eligible investors by January 19 and the investors will be able to trade on the NSE Emerge platform from January 22, 2024.
Mr. Prakash Johari, Chairman and Managing Director of Maxposure Limited, expressed his gratitude to investors and well-wishers for the remarkable response, stating, "We are truly grateful for the overwhelming support received, underscoring the confidence and trust our stakeholders have placed in Maxposure Limited. This resounding success motivates us to stay committed to delivering substantial value to our shareholders, positioning us for sustained growth and continued success. Our unwavering commitment to technology-driven innovation, customised content curation, and maintaining service excellence underscores our dedication to not only meet but surpass stakeholder expectations."
The distinguished board members of Maxposure Limited have also conveyed their delight regarding the extraordinary success of the IPO. Independent Directors Dr. Torsten-Joern Klein and Jorge Luis Arauz, along with Non-Executive Director Massimo Angelo Antonio Monti, expressed, "The triumphant IPO of Maxposure signifies a crucial milestone in the company's trajectory, and we eagerly anticipate the prospects that await us in the future."
Maxposure Limited is a dynamic player in the new-age media and entertainment sector, renowned for its innovative approach and commitment to delivering cutting-edge content. With a strategic focus on the aviation market, Maxposure Limited continues to redefine industry standards and set new benchmarks for success. Working with government and private clients, both in India and across the world, Maxposure Limited has four business divisions viz. Inflight Entertainment, Content Marketing, Technology, and Advertising.
The company proposes to utilise the net proceeds towards the funding of expenses proposed to be incurred towards obtaining certifications from the Federal Aviation Administration (“FAA”) and the European Union Aviation Safety Agency (“EASA”) for Wireless Streaming Server (“AeroHub”) and Patented Inviseo tray table for their Inflight entertainment business, for funding working capital of the company, for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and balance for general corporate purpose.
Institutional investors, namely India Ahead Venture Fund, Wallfort Financial Services Limited and Finavenue Capital Trust-Finavenue Growth Fund acquired stake in the Company before the IPO.
GYR Capital Advisors Private Limited is the book-running lead manager of the Maxposure IPO, and Bigshare Services Private Limited is the registrar for the issue.
Incorporated in 2006, Maxposure Limited is one of the few companies in India that offers 360-degree services across multiple content distribution platforms. The company’s innovative and diverse service portfolio and result-oriented strategies have aided in curating an industry-wide client selection across various geographies. Maxposure Limited has been associated with aviation and travel industry leaders, including IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, the Taj Group of Hotels to name a few.
The company has developed a Wireless Streaming Server (“WMS”) known as AeroHub WMS, which enables around 100 devices (phone, tablets, laptops) to stream content onboard aircrafts at high speed at a reduced cost as compared to traditional inflight screens. Also, as a part of its content marketing expertise, and to cater customers globally, the company offers content services in over 21 foreign and regional languages, including German, Russian, Arabic, Portuguese, Japanese, Chinese, French, Tamil, Marathi, Gujarati, Malayalam, Odia, etc.
On January 17th, the final day of the issue, the IPO was oversubscribed by 987.47 times, calculated after the exclusion of the market maker and anchor investor portion equity shares. The subscription in NII and QIB portion were 1981.4 times and 162.35 times, respectively, which is more than the previous highest-ever subscription in Kay Cee Energy and Infra Issue, which closed on January 2, 2024.
With 5,29,528 applications, investors had bid for 401.70 crore equity shares against an offer size of 40.68 lakh, reporting a total procurement of Rs. 13,256.21 crore. The company will finalise the basis of allotment by January 18th, the shares will be credited to the demat accounts of eligible investors by January 19 and the investors will be able to trade on the NSE Emerge platform from January 22, 2024.
Mr. Prakash Johari, Chairman and Managing Director of Maxposure Limited, expressed his gratitude to investors and well-wishers for the remarkable response, stating, "We are truly grateful for the overwhelming support received, underscoring the confidence and trust our stakeholders have placed in Maxposure Limited. This resounding success motivates us to stay committed to delivering substantial value to our shareholders, positioning us for sustained growth and continued success. Our unwavering commitment to technology-driven innovation, customised content curation, and maintaining service excellence underscores our dedication to not only meet but surpass stakeholder expectations."
The distinguished board members of Maxposure Limited have also conveyed their delight regarding the extraordinary success of the IPO. Independent Directors Dr. Torsten-Joern Klein and Jorge Luis Arauz, along with Non-Executive Director Massimo Angelo Antonio Monti, expressed, "The triumphant IPO of Maxposure signifies a crucial milestone in the company's trajectory, and we eagerly anticipate the prospects that await us in the future."
Maxposure Limited is a dynamic player in the new-age media and entertainment sector, renowned for its innovative approach and commitment to delivering cutting-edge content. With a strategic focus on the aviation market, Maxposure Limited continues to redefine industry standards and set new benchmarks for success. Working with government and private clients, both in India and across the world, Maxposure Limited has four business divisions viz. Inflight Entertainment, Content Marketing, Technology, and Advertising.
The company proposes to utilise the net proceeds towards the funding of expenses proposed to be incurred towards obtaining certifications from the Federal Aviation Administration (“FAA”) and the European Union Aviation Safety Agency (“EASA”) for Wireless Streaming Server (“AeroHub”) and Patented Inviseo tray table for their Inflight entertainment business, for funding working capital of the company, for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and balance for general corporate purpose.
Institutional investors, namely India Ahead Venture Fund, Wallfort Financial Services Limited and Finavenue Capital Trust-Finavenue Growth Fund acquired stake in the Company before the IPO.
GYR Capital Advisors Private Limited is the book-running lead manager of the Maxposure IPO, and Bigshare Services Private Limited is the registrar for the issue.
Incorporated in 2006, Maxposure Limited is one of the few companies in India that offers 360-degree services across multiple content distribution platforms. The company’s innovative and diverse service portfolio and result-oriented strategies have aided in curating an industry-wide client selection across various geographies. Maxposure Limited has been associated with aviation and travel industry leaders, including IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, the Taj Group of Hotels to name a few.
The company has developed a Wireless Streaming Server (“WMS”) known as AeroHub WMS, which enables around 100 devices (phone, tablets, laptops) to stream content onboard aircrafts at high speed at a reduced cost as compared to traditional inflight screens. Also, as a part of its content marketing expertise, and to cater customers globally, the company offers content services in over 21 foreign and regional languages, including German, Russian, Arabic, Portuguese, Japanese, Chinese, French, Tamil, Marathi, Gujarati, Malayalam, Odia, etc.
