Eventions IPO: Strong FY26 Profit Growth and 10.22% EBITDA Margin
Eventions IPO grey market indications are currently at ₹35 to ₹40 per share, before the September 30, 2026 opening. The NSE Emerge SME issue has a price band of ₹112 to ₹118 per share and is a 100% fresh issue to raise ₹38.12 crore.
The company reported an FY26 PAT of ₹7.72 crore, up about 51% from the previous year. EBITDA margin also increased to 10.22% from 4.77% in FY24. However, investors should also consider its high customer concentration and negative operating cash flow.
📲 Want complete IPO details in one place? Check IPO details, GMP, subscription, allotment and listing updates on the IPOwiz app.
Download: Available on Play Store & App Store
📋 Table of Contents
Eventions IPO: Quick Summary
| Parameter | Detail |
|---|---|
| FY26 PAT | ₹7.72 cr, up ~51% year on year |
| EBITDA Margin | 10.22% (expanded from 4.77% in FY24) |
| Offline GMP | ₹35 - ₹40 (unofficial indication) |
| Total Issue Size | ₹38.12 cr (100% fresh issue) |
Eventions IPO Details
| Detail | Information |
|---|---|
| Issue Opens | September 30, 2026 |
| Issue Closes | October 5, 2026 |
| Listing Date | October 8, 2026 |
| Listing Exchange | NSE Emerge |
| Issue Type | Book-built SME |
| Price Band | ₹112 - ₹118 per equity share |
| Total Issue Size | ₹38.12 cr |
| Fresh Issue | 32.30 lakh shares (₹38.12 cr) |
| Offer for Sale (OFS) | None (100% fresh issue) |
| Market Lot Size | 1,200 shares |
| Minimum Retail Application | 2,400 shares (2 lots) |
| Minimum Retail Amount | ₹2,83,200 (at upper band) |
📲 Track live subscription velocities and real-time GMP shifts. Join the IPOwiz Telegram channel for instant alerts.
Eventions IPO GMP Today & Estimated Listing Price
Current offline grey market indications are in the ₹35 to ₹40 per share range. This is an unofficial reference before bidding starts.
| GMP Parameter | Detail |
|---|---|
| Offline GMP Indication | ₹35 - ₹40 per share |
| Upper Price Band | ₹118 |
| Estimated Listing Price | ₹153 - ₹158 |
| Estimated Listing Gain | 29.7% to 33.9% |
| GMP Status | Unofficial, unregulated, not a forecast |
Adding the ₹35 to ₹40 premium to the ₹118 upper price band gives a reference level of about ₹153 to ₹158 per share, or a 29.7% to 33.9% gain. This is only an example, and SME stocks can move sharply on the first day.
⚠️ Grey Market Advisory: The GMP trend will become clearer once bidding starts, as final subscription numbers directly shape grey market sentiment. GMP can reverse quickly. Track daily movements on the IPOwiz Live IPO GMP tracker.
What Does Eventions Limited Do?
Eventions works in Meetings, Incentives, Conferences, and Exhibitions (MICE) and corporate event management. It handles the full event process, including planning, venue selection, accommodation, travel, logistics, vendors, and on-site work.
The company follows an asset-light model. It does not own hotels, venues, production equipment, or transport fleets. Instead, it works with hospitality groups, destination-management companies (DMCs), airlines, logistics operators, and production vendors based on each project.
From FY24 to FY26, the company handled more than 200 MICE, corporate, and brand events. 107 assignments had individual contract values above ₹50 lakh, and the company served over 50 corporate clients during this period.
Eventions IPO Financial Performance (FY24 to FY26)
Profit has grown much faster than revenue over the last three financial years:
| Financial Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Operating Revenue | ₹86.57 cr | ₹87.53 cr | ₹99.74 cr |
| EBITDA | ₹4.13 cr | ₹7.09 cr | ₹10.19 cr |
| EBITDA Margin | 4.77% | 8.10% | 10.22% |
| Profit After Tax (PAT) | ₹3.29 cr | ₹5.13 cr | ₹7.72 cr |
| PAT Margin | 3.77% | 5.82% | 7.67% |
| ROCE | 88.51% | 68.31% | 48.76% |
| Return on Net Worth (RoNW) | 106.46% | 70.28% | 55.16% |
FY26 revenue grew about 13.95% YoY, while PAT grew about 50.6%. Profit growth was helped by better margins: EBITDA margin rose from 4.77% to 10.22%, and PAT margin increased from 3.77% to 7.67%. Higher contributions from premium and international events helped this growth.
High-Value Events & International Operations
| Operational KPI | FY24 | FY25 | FY26 |
|---|---|---|---|
| Domestic events (≥₹50 lakh) | 16 | 15 | 26 |
| International events (≥₹50 lakh) | 11 | 16 | 23 |
| Total high-value events | 27 | 31 | 49 |
| Long-haul international events | 2 | 9 | 17 |
International Revenue vs Client Base: International events made up 71.10% of FY26 revenue, up from 62.31% in FY25. These events were delivered across Spain, France, Switzerland, UAE, Singapore, and other locations, mainly for Indian corporate clients.
Repeat Business: 57.14% of FY26 high-value events came from existing corporate clients. The company also added 14 new accounts.
How the IPO Money Will Be Used
The full ₹38.12 crore raised through the fresh issue will be used as follows:
| Use of Proceeds (Issue Size ~₹38.12 cr) | Amount Allocated |
|---|---|
| Working capital requirements | ₹18.80 cr |
| Repayment / prepayment of borrowings | ₹7.00 cr |
| Investment in Gantu Online Pvt. Ltd. | ₹1.40 cr |
| General corporate purposes | Balance within limits |
Debt Reduction: The company's outstanding borrowings were ₹9.44 crore as of March 31, 2026. Using ₹7.00 crore to repay debt can reduce interest costs and improve its balance sheet.
Gantu Online: Eventions acquired a 70% stake in March 2026. Gantu is a B2C customized-travel platform. The ₹1.40 crore allocation will support AI customer support and app technology. It is currently loss-making, so it is not yet a major source of earnings.
Eventions IPO Valuation: P/E vs Peers
At the upper price band of ₹118 per share:
- Pre-issue historical P/E: 13.3x (based on FY26 EPS of ₹8.90).
- Post-issue diluted historical P/E: ~18.6x (based on post-issue diluted EPS of ₹6.34).
| Company | Historical P/E | FY26 RoNW (%) |
|---|---|---|
| Eventions (Pre-issue / Diluted) | 13.3x / 18.6x | 55.16% |
| Mach Conferences & Events | 22.44x | 12.99% |
| E-Factor Experiences | 10.98x | 24.25% |
Note: Peer multiples are based on RHP disclosures. The peer companies are not exactly the same as Eventions.
Eventions IPO Risks
⚠️ Extreme Client Concentration
The largest customer contributed 42.72% of FY26 revenue, while the top 10 customers contributed 84.59%. MICE services make up 91.29% of total revenue.
⚠️ Negative Operating Cash Flows
Operating cash flow was negative in FY25 and FY26. Working capital needs increased from ₹3.92 crore in FY24 to ₹23.99 crore in FY26 as unbilled revenue and trade receivables increased.
⚠️ Margin Sustainability Risk
The RHP says the high-margin international event mix seen in FY26 may change depending on corporate travel budgets and global conditions.
⚠️ SME Liquidity & Ticket Constraints
The minimum retail bid is 2 lots (₹2,83,200). SME stocks can also have lower trading liquidity than mainboard stocks.
Eventions IPO: Investor Scorecard
| Parameter | Assessment | View |
|---|---|---|
| Profit Growth | PAT up from ₹3.29 cr in FY24 to ₹7.72 cr in FY26 (+50.6% YoY) | Strong |
| Margins | EBITDA margin 4.77% to 10.22%; PAT margin 3.77% to 7.67% | Expanding |
| Event Mix | High-value events rose from 27 to 49; 71.1% revenue from international execution | Strong |
| Client Base | 14 new high-value clients in FY26; 57.14% events from repeat clients | Positive |
| Business Model | Asset-light B2B model, highly scalable without heavy plant assets | Positive |
| Return Ratios | FY26 ROCE 48.76%, RoNW 55.16% | Strong |
| Issue Structure | 100% fresh issue; ₹18.80 cr for working capital, ₹7 cr for debt repayment | Positive |
| Valuation | 13.3x pre-issue and ~18.6x diluted FY26 P/E vs Mach (22.44x) & E-Factor (10.98x) | Fair |
| Client Concentration | Top customer 42.72% and top 10 customers 84.59% of FY26 revenue | Monitor |
| Cash Flow | Operating cash flow was negative in FY25 and FY26 due to working capital expansion | Monitor |
Should You Apply for the Eventions IPO?
The numbers show strong profit growth, higher EBITDA margins, and a valuation of about ~18.6x diluted P/E. The asset-light model lets the company grow without spending heavily on machinery and other large assets.
However, customer concentration is high, with the top 10 clients contributing ~84.6% of revenue. Negative operating cash flow also shows that growth has tied up money in working capital. The offline GMP of ₹35-₹40 shows positive pre-launch sentiment, but SME stocks can be volatile. Investors should consider these risks along with the company's operating performance.
Frequently Asked Questions (FAQs)
What is the Eventions IPO price band?
The price band is fixed at ₹112 to ₹118 per equity share.
When does the Eventions IPO open and close?
The issue is scheduled to open on September 30, 2026, and close on October 5, 2026. Listing on NSE Emerge is expected on October 8, 2026.
What is the minimum application for the Eventions IPO?
The minimum retail application is 2,400 shares (two lots of 1,200 shares), amounting to ₹2,83,200 at the ₹118 upper price band.
What is the Eventions IPO offline GMP?
Offline indications are circulating in the range of ₹35 to ₹40 per share. This is unofficial, unregulated, and not a forecast.
What is the Eventions IPO estimated listing price?
Adding the ₹35-₹40 premium to the ₹118 upper band gives an informal reference level of roughly ₹153-₹158 per share.
Is there an OFS in the Eventions IPO?
No. The issue is a 100% fresh issue of 32.30 lakh equity shares; no existing promoters are offloading shares.
How will the Eventions IPO proceeds be used?
₹18.80 crore is allocated toward working capital, ₹7.00 crore for debt repayment, ₹1.40 crore toward Gantu Online tech infrastructure, and the balance for general corporate purposes.
What were Eventions' FY26 financial figures?
Revenue from operations stood at ₹99.74 crore, EBITDA was ₹10.19 crore (10.22% margin), and PAT reached ₹7.72 crore (7.67% margin).
Source: Adapted from ICICI Direct Research and the Eventions Limited Red Herring Prospectus dated September 22, 2026. Disclaimer: Grey Market Premium (GMP) is unofficial and unregulated. Investments in SME equities involve liquidity and market volatility risks. Read the offer documents carefully before making investment decisions.