Maxposure IPO Receives Overwhelming Response, Subscription Status Stands at 522.98 Times

Maxposure Limited, a diverse new-age media and entertainment company, is witnessing an overwhelming response to its Initial Public Offering (IPO). The IPO, which opened for subscription on Monday, January 15, and will close today, Wednesday, January 17, has already garnered a subscription status of 522.98 times, according to data available on chittorgarh.com.

Founded by Prakash and Sweta Johari, Maxposure provides 360-degree services across various distribution platforms and specializes in custom solutions. The company’s four pillars are advertising, content marketing, technology, and in-flight entertainment, as stated in the company’s red herring prospectus. With Crayons Advertising Limited being its listed peer, Maxposure distinguishes itself in the market.

The financial performance of Maxposure has been commendable, with a revenue growth of 1.03% and a significant rise in profits after tax (PAT) by 1162.04% during the last financial year, ending in March 2023. This promising growth potential has attracted investors to the IPO.

The Maxposure IPO, valued at ₹20.26 crore, comprises a completely fresh issue of 6,140,000 equity shares, without any offer-for-sale component. The net proceeds from this offering will be utilized for various purposes, including obtaining certifications for the Wireless Streaming Server (AeroHub) and the patented Inviseo tray table from the Federal Aviation Administration and the European Union Aviation Safety Agency. Additionally, the funds will finance working capital needs and prepayment or repayment of certain outstanding borrowings.

The subscription status indicates strong investor demand, with retail investors subscribing 672.99 times their allocated portion and non-institutional buyers subscribing 812.46 times. Qualified Institutional Buyers (QIBs) have also shown significant interest, with a subscription of 30.03 times their portion.

The Maxposure IPO, managed by GYR Capital Advisors Private Limited, has received bids for 2,12,74,76,000 shares against the 40,68,000 shares on offer as of the latest data. The Grey Market Premium (GMP) for Maxposure shares has remained steady at +60, signifying investor confidence. Considering the premium and the upper end of the IPO price band, the expected listing price of Maxposure shares is estimated to be ₹93, which is 181.82% higher than the IPO price.

The remarkable subscription response to the Maxposure IPO reflects the market’s positive sentiment towards the company’s growth prospects, driven by its diversified portfolio and strong financial performance. With its innovative services and a promising market outlook, Maxposure looks poised for a successful future in the media and entertainment industry.