Maxposure IPO: Check latest GMP, subscription status on day 3, other key details

Maxposure IPO opened for subscription on Monday, January 15, and will close on Wednesday, January 17. Maxposure IPO price band has been set in the range of ₹31 to ₹33 apiece. Maxposure IPO lot size consists of 4,000 shares. Investors can bid for a minimum of 4,000 shares and in multiples thereof.

Maxposure is a diverse new-age media and entertainment company that provides 360-degree services across various distribution platforms, according to the company's red herring prospectus (RHP). The four pillars of Maxposure, a company that specialises in custom solutions, are advertising, content marketing, technology, and in-flight entertainment.

Prakash and Sweta Johari are the company's promoters.

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The company's listed peer is Crayons Advertising Limited (with P/E of 17.91), as per the RHP.

Maxposure Limited's revenue climbed by 1.03% and profit after tax (PAT) rose by 1162.04% during the financial year ending with March 31, 2023 and March 31, 2022, as per reports.

Maxposure IPO details 

Maxposure IPO, which is worth ₹20.26 crore, comprises a fresh issue of 6,140,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.

The company plans to use the net proceeds from the offering for the following purposes: financing the costs that will be incurred to obtain certifications for the Wireless Streaming Server ("AeroHub") and the Patented Inviseo tray table from the Federal Aviation Administration ("FAA") and the European Union Aviation Safety Agency ("EASA"), as well as funding the working capital needs of the company for manufacturing the Proposed Products and for regular business operations; prepayment or repayment of all or a portion of certain outstanding borrowings that the company has accessed; and general corporate purposes.

The registrar of the Maxposure IPO is Bigshare Services Pvt Ltd, and the book running lead manager is GYR Capital Advisors Private Limited.

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Maxposure IPO subscription status

Maxposure IPO subscription status is 522.98 times on day 3, so far. The issue received positive response from retail investors who's portion set was subscribed 672.99 times, and non-institutional buyers who's portion was subscribed 812.46 times, as per data available on chittorgarh.com. Qualified Institutions Buyers (QIBs) portion is booked 30.03 times.

The company has received bids for 2,12,74,76,000 shares against 40,68,000 shares on offer, at 13:29 IST, according to data on chittorgarh.com.

Maxposure IPO subscription status was 72.58 times on day 1, and the issue was subscribed 190.43 times on day 2. 

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Maxposure IPO GMP today

Maxposure IPO GMP or grey market premium is +60, similar to the previous session. This indicates Maxposure share price were trading at a premium of ₹60 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Maxposure share price was indicated at ₹93 apiece, which is 181.82% higher than the IPO price of ₹33.

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

Maxposure IPO Review

“After listless performances for FY21 and FY22, it marked bumper profits with rise in top lines. Considering the changed lifestyle and rising air travel, this company may have bright prospects ahead, but all will depend on future trends. Based on last 18 months working, the issue appears fully priced. The sustainability of margins going forward is a major concern. Well-informed investors may park funds for the medium to long term rewards,” said Dilip Davda, the contributing editor at Chittorgarh.

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