Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit

BSE SME Exhicon Events Hits Upper Limit Twice after Getting Listed

These carefully selected events will be held in Madhya Pradesh, Haryana, and other states around India.

BSE SME Exhicon Events shares have been hitting the upper circuit continuously since the day it got listed, i.e. Monday, April 17. In early morning trades, the stock locked in a 5% limit on Monday and Tuesday.

The IPO of Exhicon Events media solutions Ltd was launched on March 31 2023, at a price band of Rs 61 and Rs 64 per share, and shares were listed on the exchange on Monday after successful allotment on April 11. The Rs 21.12 crore public issue worth Rs 21.12 crore was available for bidding till April 5, 2023. The company intends to utilise the net proceeds from the issue for the working capital gap, acquisition of exhibition material, issue expenses, and general corporate expenses.

The book-building IPO was subscribed 1.95 times. The retail portion of the public offer was subscribed 2.31 times, whereas the NII portion was subscribed 3.28 times. The QIB portion of the public issue was also fully subscribed.

The SME stock opened at Rs 64 per share on BSE but attracted buying interest post-listing and hit an intraday high of Rs 67.20 per share, locking in at a 5% upper circuit on the listing date. The stock opened today and again hit an upper circuit within a few seconds of the opening bell as no seller was available for the stock available at Rs 70.56 per share. Shares of Exhicon Events Media Solutions closed at Rs 70.56 on Tuesday and at Rs 67.20 on Monday. About 14.86 lakh shares of the company had changed hands at the counter.

Exhicon Events Media Solutions provides a comprehensive range of products and services to the exhibitions, conferences, and events industries. The company’s solutions range from media to integrated marketing solutions, temporary to permanent event infrastructure, and management to organising. The company offers turnkey event and trade fair construction for B2B and B2C fairs and events for small to large graphs. It also assists its clients in obtaining the necessary permissions and licences for the events.

The company’s clients are various state governments, domestic associations, and international clients. It also provides services to various domestic trade show organisers. The firm has worked in multiple industries, including hospitality, food and beverage, non-chemical FMCG, international trading, and healthcare. 27 people are working for the company.

The company earned revenue from operations of Rs 29.31 crore and a net profit of Rs 4.70 crore for the 6 months ending September 30, 2022.

Get Daily Prediction & Stocks Tips On Your Mobile