Maxposure Limited IPO to Open for Subscription on January 15th, 2024

Business Wire India

  • Maxposure Ltd. will hit the primary market on January 15th and it will close on January 17th, 2024
  • The equity shares are offered at a price band of Rs 31 – Rs 33 per equity share. Retail Investors would be required to subscribe to a minimum of one lot of 4,000 shares

The Initial Public offering (IPO) of Maxposure Limited, which is a leader in the new-age media and entertainment industry having special focus on the aviation market, will be open for subscription on Monday, January 15th, 2024 and the Issue will be closing on Wednesday, January 17th, 2024. Working with government and private clients, both in India and across the world, Maxposure Limited has four business divisions viz. Inflight Entertainment, Content Marketing, Technology, and Advertising.

According to the RHP filed with NSE Emerge, 61,40,000 equity shares are offered and the price band is set at Rs 31 to Rs 33 per share. The minimum lot size for an application is 4,000 shares. The minimum amount of investment required by retail investors is Rs 1,24,000 (Lower Price Band).

The company proposes to utilise the net proceeds towards funding of expenses proposed to be incurred towards obtaining certifications from the Federal Aviation Administration (“FAA”) and the European Union Aviation Safety Agency (“EASA”) for Wireless Streaming Server (“AeroHub”) and Patented Inviseo tray table for their Inflight entertainment business, for funding working capital of the company, for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and balance for general corporate purpose.

Institutional investors, namely India Ahead Venture Fund, Wallfort Financial Services Limited and Finavenue Capital Trust-Finavenue Growth Fund have already acquired stake in the Company before the IPO.

GYR Capital Advisors Private Limited is the book-running lead manager of the Maxposure IPO, Bigshare Services Private Limited is the registrar for the issue.

Incorporated in 2006, Maxposure Limited is one of the few companies in India that offers 360-degree services across multiple content distribution platforms. The company’s innovative and diverse service portfolio and result oriented strategies have aided in curating an industry-wide client selection across various geographies. Maxposure Limited has been associated with aviation and travel industry leaders, including IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, the Taj Group of Hotels to name a few.

The company has developed a Wireless Streaming Server (“WMS”) known as AeroHub WMS, which enables around 100 devices (Phone, tablets, Laptops) to stream content onboard aircrafts at high speed at a reduced cost as compared to traditional Inflight screens. Also, as a part of its content marketing expertise, and to cater customers globally, the company offers content services in over 21 foreign and regional languages, including German, Russian, Arabic, Portuguese, Japanese, Chinese, French, Tamil, Marathi, Gujarati, Malayalam, Odia, etc.

Prakash Johari, Chairman and Managing Director of Maxposure Limited on the IPO, says, “We take pride in being a leader in the technology-driven new-age media and entertainment industry, with focus on the aviation market. Our commitment to quality and technological innovations sets us apart. We are the only full-service Inflight Entertainment Content Service provider in India and have entered the highly regulated aviation market with two High-Margin products – a Wireless Streaming Server and the globally patented Inviseo tray table for airlines. In our content marketing business, we cater to both government and Fortune-500 companies, acting as their extended brand strategists, to create content in 21 foreign and regional languages across platforms – print, digital, video, audio. The net proceeds of the IPO will be utilised to strengthen the company’s working capital and expand its business operations. Our proficient team, coupled with our unwavering commitment to excellence, ensures that Maxposure Limited remains at the forefront of the industry, providing unparalleled services that resonate with our clients and set benchmarks for the future.”

Here are key things to know about the Maxposure Ltd. IPO –

Issue Dates: The IPO opens for public subscription on January 15th, 2024 and will close on January 17th, 2024. The basis of allotment of shares will be fixed on January 18th, 2024 and initiation of refunds will take place on January 19th, 2024. The shares of Maxposure Limited will be listed on January 22nd at NSE Emerge platform.

Price Bands: Rs 31 to Rs 33 for per equity share offered.

IPO share reservations: Not more than 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) including Anchor, and not less than 15% of the Net Offer will be available for allocation on a proportionate basis to Non- Institutional Investors and not less than 35% of the Net Offer will be available for allocation to Retail Individual Investors.

Lot size: The market lot size is 4,000 Equity shares. The minimum investment for retail investor for one lot is Rs 1,24,000 (Lower Price Band)

Link for RHP filed with Exchange: