E Factor Experiences IPO: Check latest GMP, subscription status on day 4, other details

E Factor Experiences Limited IPO has opened for subscription on Wednesday, September 27, and will close on Tuesday, October 3. E Factor Experiences IPO price band has been set in the range of ₹71 to ₹75 per equity share of face value of ₹10 each. E Factor IPO lot size is 1600 equity shares and in multiples of 1600 equity shares thereafter.

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E Factor Experiences IPO details

E Factor IPO, which is worth ₹25.92 crores, is completely a fresh issue of 3,456,000 equity share; there is no offer for sale (OFS) component. Jai Thakore, Samit Garg, Aruna Garg and Manika Garg are the company promoters.

The company plans to use the proceeds of the offering to meet the following goals: general corporate purposes, working capital needs, repayment and/or prepayment of certain borrowings taken out by the company, and investment in subsidiaries.

E Factor Experiences Limited is an Indian event management that offers event experiences, event services, technology-based permanent & semi-permanent multimedia light & sound installations, specialised turnkey event assignments, wedding management, and private & social event solutions to the public.

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According to the Red Herring Prospectus (RHP), the company's portfolio of services includes turnkey assignments in the form of Government commissioned Tourism Events and Festivals, techno-cultural light & sound shows, Sporting Events & Contests, Conferences, Mega Ground Concerts, Televised Events, private and social events like wedding and anniversary celebrations etc.

Recently in Fiscal 2023, the company expanded its social event services to include cities like Barcelona, Spain, and earned ₹945.20 lakhs, or 8.29% of its revenue from operations.

The registrar for the E Factor Experiences IPO is Maashitla Securities Private Limited, and the book running lead manager is Hem Securities Limited. Hem Finlease is the market maker for the E Factor Experiences IPO.

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E Factor IPO subscription status today

E Factor IPO subscription status today was 73.14 times on day 4. The issue received response from retail investors who's portion set was subscribed 47.78 times, and positive response from non-institutional buyers who's portion set was subscribed 168.26 times, and QIBs subscribed 46.09 times, according to data on chittorgarh.com.

The company has received bids for 16,80,35,200 shares against 22,97,600 shares on offer, according to data on chittorgarh.com.

E Factor IPO subscription status was 1.12 times on day 1. E Factor IPO subscription status was 1.55 times on day 2, and the issue was subscribed 4 times on day 3.

E Factor Experience IPO GMP today

E Factor IPO GMP today or grey market premium is +20 similar to previous trading session. This indicates E Factor share price were trading at a premium of ₹20 in the grey market on Tuesday, according to investorgain.com

Considering the upper end of the E Factor Experience IPO price band and the current premium in the grey market, the estimated listing price of E Factor share price is ₹95 apiece, which is 26.67% higher than the IPO price of ₹75.

For three-straight sessions,  grey market premium was +12. In the last two sessions, GMP has risen. 

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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E Factor IPO Review

“The company is engaged in event management-related services including tourism, concerts, etc., and is operating in a highly competitive and fragmented segment. It posted a galloping performance for the last three fiscals. Based on FY23 earnings, the issue appears fully priced. Well-informed investors may park funds for medium to long-term rewards,” said Dilip Davda, the contributing editor at Chittorgarh.com

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.