Propshop Events & Exhibitions Limited IPO Overview
Propshop Events & Exhibitions Limited is an integrated trade show and exhibition solutions provider specialising in the design, execution, and management of custom-built and modular exhibition booths for domestic and international clients. The company offers end-to-end services covering concept design, 3D visualization, project management, fabrication, logistics, installation, on-site supervision, and post-event dismantling, enabling brands to deliver a consistent presence across trade fairs and exhibitions. While booth fabrication is largely outsourced through a network of specialised subcontractors, Propshop retains complete control over design, project execution, and quality management through its in-house team and on-ground supervision. Established in 2019, the company has expanded its footprint from India to key global exhibition markets.
The company is now launching its SME IPO on the NSE SME platform. The IPO aims to raise ₹28.57 crore through a combination of a fresh issue of ₹23.05 crore and an offer for sale of 8,00,000 equity shares. The price band is ₹65 to ₹69 per share. The IPO opens on 27 July 2026 and closes on 29 July 2026, with listing expected on 3 August 2026.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | NSE SME |
| IPO Open Date | 27 July 2026 |
| IPO Close Date | 29 July 2026 |
| Allotment Date | 30 July 2026 (Expected) |
| Refund Initiation | 01 August 2026 |
| Credit to Demat | 01 August 2026 |
| Listing Date | 03 August 2026 (Tentative) |
| Price Band | ₹65 – ₹69 per share |
| Face Value | ₹10 per share |
| Lot Size | 2,000 shares |
| Minimum Investment (Retail) | ₹2,76,000 (2 lots = 4,000 shares) |
| Issue Size | ₹28.57 crore |
| Fresh Issue | ₹23.05 crore |
| Offer For Sale (OFS) | 8,00,000 shares |
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | 30.12% |
| Non-Institutional Investors (NII/HNI) | 30.73% |
| Retail Individual Investors (RII) | 39.15% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
The IPO includes an Offer for Sale component of 8,00,000 equity shares. The promoters of the company are Prathamesh Shantaram Pusalkar and Aarti Prathamesh Pusalkar. Proceeds from the OFS portion will go to the selling shareholders and not to the company.
Objects of the Issue (Fund Utilization)
The company proposes to utilise the net proceeds from the fresh issue towards the following objects: funding working capital requirements of the company — ₹16.62 crore — and the remainder for general corporate purposes.
- Funding working capital requirements — ₹16.62 crore
- General corporate purposes — remaining proceeds
Note: Since Propshop follows an asset-light business model, additional working capital enables it to execute larger exhibition projects, manage multiple assignments simultaneously, improve cash-flow flexibility, and expand its client base.
Lead Managers & Registrar
- Book Running Lead Manager: Unistone Capital Pvt. Ltd.
- Registrar to the Issue: MUFG Intime India Pvt. Ltd.
Promoters & Management
The promoters of Propshop Events & Exhibitions are Mr. Prathamesh Shantaram Pusalkar and Mrs. Aarti Prathamesh Pusalkar. The promoters bring operational expertise in exhibition booth design, project management, and client servicing, having built the business from inception in 2019 to a 1,100+ client base today.
Company Details
Propshop Events & Exhibitions Limited operates in the fast-growing exhibition and trade show management industry, offering end-to-end exhibition booth solutions for corporate clients across India and overseas. The company follows an asset-light business model, where booth design, project management, and branding are handled in-house, while fabrication and execution are outsourced under strict supervision.
Sectors Served:
- Industrial Machinery
- Building Materials
- Healthcare & Pharmaceuticals
- Chemicals
- Media & Entertainment
- Food & Beverages
- Consumer Goods
Key Services:
- Custom-built & Modular Exhibition Booths
- Concept Design & 3D Visualization
- Project Management & On-site Supervision
- Logistics, Installation & Post-event Dismantling
- Experiential Branding & Trade Show Execution
Key Capabilities:
- Asset-light operating model allowing efficient scaling by leveraging rented infrastructure and trusted local partners while maintaining competitive pricing and operational flexibility.
- Over 5,000 exhibition booths executed for more than 1,100 clients — establishing a strong process-driven repeat-business model.
Office & Facilities:
- Registered office in Mumbai, Maharashtra; two rented godown facilities for storage and logistics support.
- As of 30 June 2026, the company has 125 employees.
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY24 | ₹30.57 | ₹2.19 |
| FY25 | ₹51.59 | ₹6.32 |
Key Financial Metrics
- Revenue grew from ₹30.57 crore in FY24 to ₹51.59 crore in FY25 — a growth of ~69% YoY. PAT grew from ₹2.19 crore to ₹6.32 crore — a growth of ~189% YoY.
- The company enjoys an almost debt-free balance sheet, high return ratios, and a diversified client base across multiple industries.
- Listed peer Exhicon Events is currently trading at a P/E of 20.0x (as of July 23, 2026) — the issue appears fully priced relative to this peer comparison.
Company Strengths
- India’s exhibition and events industry is witnessing strong growth, supported by increasing corporate marketing expenditure, rising participation in domestic and international trade fairs, expanding convention infrastructure, and growing demand for experiential branding.
- Asset-light business model enabling faster scaling while maintaining healthy profitability and return ratios — without requiring heavy capex investment.
- Diversified client base across industrial machinery, building materials, healthcare, chemicals, media, food & beverages, and consumer goods — reducing dependence on any single sector.
- Exceptional financial growth — revenue up 69% and PAT up 189% in FY25 — reflecting strong business momentum
- Track record of over 5,000 exhibition booths executed for more than 1,100 clients, building strong repeat customer relationships.
- Virtually debt-free balance sheet with strong return ratios, providing financial stability and headroom for growth
Key Risks & Challenges
- Dependence on exhibition activity and fluctuations in corporate marketing expenditure — any slowdown in trade fair participation or corporate budgets can directly impact revenues.
- Reliance on outsourced fabrication partners — quality, timelines, and cost overruns are dependent on third-party subcontractors, with limited direct control over execution.
- Highly competitive and fragmented market segment — the company faces intense competition from both organized players and smaller regional operators.
- Based on recent financial data, the issue appears fully priced — leaving limited room for listing gains at the upper price band of ₹69.
- Young company — established in 2019, giving it a limited track record of only ~7 years, with most of the visible growth concentrated in FY25.
- SME IPO liquidity risk — limited secondary market trading volumes on the NSE SME platform post-listing.
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
