Key Takeaways
Eventions Limited is a Gurugram-based company operating in the Meetings, Incentives, Conferences and Exhibitions (MICE) and event-management industry.
The company was incorporated as Eventions Private Limited on December 15, 2020 and was converted into a public limited company in February 2026.
The IPO is a 100% fresh issue of up to 32,30,400 equity shares with a face value of ₹10 each.
The IPO price band is ₹112–₹118 per share.
The issue is scheduled to open on 30 September 2026 and close on 5 October 2026, with proposed listing on NSE Emerge.
The company plans to use the IPO proceeds primarily for working capital, repayment/pre-payment of borrowings, investment in its subsidiary and general corporate purposes.
Eventions reported FY2026 revenue of around ₹100 crore and profit after tax of around ₹7.72 crore based on the restated financial information reported for the IPO
Company Introduction
Eventions Limited is a Gurugram-based business-to-business event-management company primarily focused on the MICE industry. MICE stands for Meetings, Incentives, Conferences and Exhibitions and represents an important segment of the broader corporate travel, tourism and event-management ecosystem. Eventions provides services related to the planning, coordination and execution of corporate events and programmes. These services can include venue coordination, travel arrangements, accommodation, logistics management, vendor coordination and on-ground event execution.
The company was incorporated on December 15, 2020, as Eventions Private Limited and subsequently converted into a public limited company in February 2026. Since its establishment, the company has focused on providing integrated event-management solutions to corporate clients. Its business model is largely asset-light, which means that instead of owning all the physical infrastructure required to execute an event, the company works with hotels, destination-management companies, travel providers, logistics companies, event-production agencies and other vendors.
The company operates primarily through a B2B model, serving corporate and institutional customers. Its service portfolio includes corporate meetings, conferences, incentive travel programmes, exhibitions, corporate events, brand activations, travel arrangements, logistics and event execution. According to the company's IPO disclosures, Eventions executed 107 events with individual billing exceeding ₹50 lakh during FY2024, FY2025 and FY2026. The company has also reported serving more than 50 corporate clients during the period.
Eventions also has a subsidiary, Gantu Online Private Limited, which operates in the B2C travel segment. The subsidiary focuses on customised travel and experiential tourism solutions. Eventions acquired a 70% stake in Gantu Online in March 2026, expanding its presence beyond its traditional corporate-focused MICE business.
Eventions Limited IPO Details
The Eventions Limited IPO is structured as an SME book-building issue. The company proposes to issue up to 32,30,400 equity shares with a face value of ₹10 each. The price band has been fixed at ₹112 to ₹118 per share. The IPO is scheduled to open on September 30, 2026, and close on October 5, 2026. The proposed listing date is October 8, 2026, on the NSE Emerge platform.
The entire issue is structured as a fresh issue, meaning the shares being offered are newly issued by the company rather than existing shares being sold by shareholders through an Offer for Sale. At the upper price band of ₹118 per share, the total issue size is approximately ₹38.12 crore. The reported lot size is 1,200 shares, while the minimum retail application is two lots, representing 2,400 shares. At the upper price band, this translates into a minimum application amount of approximately ₹2,83,200.
Corporate Professionals Capital Private Limited is acting as the lead manager for the issue, while Mudra RTA Ventures Private Limited is the registrar. Aftertrade Broking Private Limited has been identified as the market maker for the SME issue.
Industry Overview
The MICE industry is part of the larger business travel, tourism and corporate event-management ecosystem. Unlike conventional leisure tourism, MICE activities are primarily associated with businesses and institutions that organise meetings, conferences, incentive programmes, exhibitions, annual events, dealer meets, product launches and employee engagement programmes.
The MICE ecosystem connects several industries, including hotels, aviation, restaurants, transportation, exhibition venues, event production, advertising, tourism and experiential marketing. An event-management company acts as a coordinator between the corporate customer and these different service providers.
For companies such as Eventions, this creates an opportunity to provide an integrated service without necessarily owning hotels, conference centres, airlines or extensive event infrastructure. The asset-light model allows the company to coordinate different vendors depending on the requirements of each project.
Eventions has reported executing programmes across India as well as international destinations in regions including Europe, the Middle East and Asia-Pacific. However, the MICE industry is also sensitive to corporate spending and broader economic conditions. Events may be postponed or cancelled because of economic slowdowns, geopolitical developments, travel restrictions, natural disasters or other unexpected circumstances. Therefore, understanding the industry's growth opportunity also requires considering the factors that can affect corporate event spending.
Eventions Business Model
Eventions primarily operates through a B2B business model in which corporate clients engage the company for the planning and execution of events and related programmes. Depending on the client's requirements, an assignment may involve venue selection, travel arrangements, accommodation, transportation, event production, food and beverage coordination, vendor management and on-ground execution.
The company's asset-light approach allows it to use a network of external service providers rather than maintaining ownership of all the infrastructure required for an event. This can help the company manage different projects according to client requirements and destination.
The MICE segment is particularly important to Eventions because it contributed approximately 91.29% of revenue from operations in FY2026, compared with 91.77% in FY2025 and 87.39% in FY2024, according to IPO-related disclosures. This indicates that the company's financial performance remains closely linked to the corporate MICE market.
Financial Performance of Eventions Limited
The financial performance of a company is one of the most important areas to examine while analysing an IPO. Eventions' reported financial information shows an improvement in revenue and profitability over the three-year period.
The company's revenue from operations was approximately ₹86.57 crore in FY2024, increasing to ₹87.53 crore in FY2025 and approximately ₹99.74 crore in FY2026. Profit after tax increased from approximately ₹3.29 crore in FY2024 to ₹5.13 crore in FY2025 and ₹7.72 crore in FY2026.
The company's reported PAT margin also improved during this period. The PAT margin increased from approximately 3.80% in FY2024 to 5.86% in FY2025 and 7.74% in FY2026. EBITDA margin similarly improved from approximately 4.77% in FY2024 to 8.10% in FY2025 and 10.22% in FY2026.
Net worth increased from approximately ₹4.73 crore in FY2024 to ₹9.86 crore in FY2025 and ₹18.13 crore in FY2026. However, borrowings also increased and were reported at approximately ₹9.44 crore in FY2026. This makes the company's debt position and ability to manage its interest and repayment obligations important areas for investors to examine.
One of the other important areas in Eventions' financial performance is working capital. Event management often requires companies to make payments to hotels, vendors, travel providers and other service providers before receiving complete payments from clients. According to IPO-related disclosures, trade receivables increased significantly during FY2026. This means that investors should look beyond reported profit and examine cash flows, receivables and the company's working-capital cycle.
Use of IPO Proceeds
The proposed IPO proceeds are intended to support several business requirements. A significant portion of the funds, approximately ₹18.80 crore, is proposed to be used for working-capital requirements. Around ₹7 crore is proposed for repayment or pre-payment of certain borrowings, while approximately ₹1.40 crore is proposed to be invested in the company's subsidiary. The remaining amount is proposed to be used for general corporate purposes.
The allocation toward working capital is particularly relevant because Eventions operates in a business where projects can require substantial upfront expenditure. Additional working capital could support the company's ability to undertake larger projects and manage its operating cycle. At the same time, investors should assess whether the company's future growth can generate sufficient cash flows to support its working-capital needs.
Management Team
The management team is another important part of an IPO analysis because the future performance of a service-oriented business can depend significantly on the experience and execution capabilities of its leadership.
Ravi Rajak is associated with Eventions as a Whole-Time Director and Managing Director. He has been associated with the company since its incorporation and is also associated with its subsidiary, Gantu Online Private Limited. Cristoo Arora is another Whole-Time Director and promoter of the company and has also been associated with Eventions since its incorporation.
Kirat Ahluwalia is also associated with the company as a director and promoter. Kanwar Nitin Singh and Sandeep Singh are additional members of the board. Investors researching the company should refer to the latest Red Herring Prospectus for detailed biographies, qualifications, experience, remuneration, related-party transactions and other corporate-governance disclosures.
Eventions IPO Valuation
Valuation is an important component of IPO analysis because the quality of a business and the price investors pay for that business are two different considerations. At the upper price band of ₹118, IPO-related calculations place Eventions' P/E multiple at approximately 18.6 times based on reported FY2026 earnings.
The company can be compared with relevant listed companies in the event-management and experiential-services space, including E-Factor Experiences Limited and Mach Conferences & Events Limited. However, comparisons should consider differences in business models, size, growth rates, profitability, capital structure and valuation.
Investors analysing Eventions should therefore examine metrics such as P/E, EV/EBITDA, revenue growth, EBITDA margin, PAT margin, ROE, ROCE, debt-to-equity, cash-flow generation and working-capital requirements rather than relying on one valuation ratio.
Key Business Considerations
Eventions has several characteristics that are relevant to understanding its business. Its asset-light model allows the company to coordinate services through external partners instead of owning all the infrastructure required for events. The company has also reported executing more than 100 high-value events during the FY2024–FY2026 period and has served corporate clients across different industries.
Its international execution capabilities provide exposure to destinations outside India, while its subsidiary gives the company an additional presence in customised travel and experiential tourism. At the same time, these opportunities need to be viewed alongside the company's dependence on the MICE segment, working-capital requirements and reliance on third-party vendors.
Risks Associated With Eventions IPO
The Eventions IPO also carries several business and market-related risks that should be considered before making an investment decision. The company operates primarily in the MICE segment, which means changes in corporate spending can influence demand for its services. A slowdown in business activity could result in fewer corporate events or reduced event budgets.
The company also relies on external vendors, hotels, destination-management companies, logistics providers and other service partners. Problems related to availability, pricing, quality or timely delivery can affect the company's ability to execute events successfully.
Working capital is another important consideration. Increasing receivables can result in more funds being tied up in the business. Since the company is proposing to use a significant portion of the IPO proceeds for working capital, investors should understand the reasons for the requirement and how management expects the funds to support future growth.
The company also has borrowings, and reported borrowings increased to approximately ₹9.44 crore in FY2026. Investors should therefore examine the company's debt servicing capacity and interest costs.
Because Eventions is proposed to list on NSE Emerge, investors should also understand the characteristics of SME-listed securities, including potentially different liquidity and trading characteristics compared with larger mainboard-listed companies.
Frequently Asked Questions About Eventions IPO
1.What is Eventions Limited?
Eventions Limited is a Gurugram-based company engaged primarily in the MICE and event-management industry. It provides corporate clients with services related to meetings, conferences, incentive programmes, exhibitions, travel, logistics and event execution.
2.When will the Eventions IPO open?
The Eventions IPO is scheduled to open on September 30, 2026, and close on October 5, 2026.
3.What is the Eventions IPO price band?
The IPO price band has been fixed at ₹112 to ₹118 per equity share.
4.What is the Eventions IPO lot size?
The reported lot size is 1,200 shares. The minimum retail application is two lots, or 2,400 shares.
5.What is the minimum investment required?
At the upper price band of ₹118, an application for two lots, representing 2,400 shares, would require approximately ₹2,83,200.
6.Where will Eventions shares be listed?
The company is proposed to be listed on the NSE Emerge platform.
7.Is Eventions IPO a fresh issue or an OFS?
The IPO is structured as a fresh issue of up to 32,30,400 equity shares and does not include an Offer for Sale component in the reported issue structure.
8.Does GMP guarantee listing gains?
No. Grey Market Premium, or GMP, is an unofficial market indicator and does not guarantee the actual listing price or future performance of the shares.
Final Thought
Eventions Limited is a relatively young company operating in India's MICE and corporate event-management ecosystem. Since its incorporation in 2020, the company has developed a business focused on corporate events, conferences, incentive travel, exhibitions, brand activations, travel and related event-management services. Its asset-light operating model enables it to work with a network of external service providers and execute events across domestic and international destinations.
The company's reported financial performance shows improvement in both revenue and profitability between FY2024 and FY2026. Revenue increased from approximately ₹86.57 crore to ₹99.74 crore, while profit after tax increased from approximately ₹3.29 crore to ₹7.72 crore during the same period. However, investors should also pay attention to working capital, receivables, borrowings and cash-flow generation when evaluating the company's financial performance.
The IPO proceeds are primarily intended for working capital, debt repayment or pre-payment, investment in the subsidiary and general corporate purposes. Understanding how these funds are deployed will be important when assessing the company's future growth strategy.
For anyone researching the Eventions Limited IPO, the analysis should go beyond the IPO price, subscription figures or grey-market premium. A complete IPO analysis should consider the company's business model, industry, financial performance, management, valuation, use of proceeds, competitive environment, working-capital cycle and disclosed risk factors.
Investors should refer to the latest DRHP/RHP and official NSE filings before making any decision because IPO information, dates and terms can change. This article is intended for educational and informational purposes and should not be considered investment advice or a recommendation to subscribe to the Eventions Limited IPO.
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to invest in the Eventions Limited IPO.
