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IPO

India Exposition Mart files IPO draft papers to raise Rs.600-Cr

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India Exposition Mart Ltd, an integrated exhibitions and conventions venue, has filed a preliminary prospectus with Sebi to raise INR 600 crore through an IPO. The company may consider a private placement of equity shares aggregating up to INR 75 crore. The initial share-sale comprises fresh issue of equity shares aggregating up to INR 450 crore and an offer-for-sale (OFS) of up to 11,210,659 equity shares by existing shareholders. Those offering shares in the OFS include Vectra Investments, MIL Vehicles & Technologies, Overseas Carpets, RS Computech, Navratan Samdaria, Dinesh Kumar Aggarwal and Pankaj Garg. Of the INR 450 crore fresh issuance, the company is planning to use about INR 316.91 crore for funding capital expenditure requirements for expansion of its existing infrastructure facilities, INR 17 crore for the payment of debt, and for general corporate purposes. Located in Greater Noida, India Exposition Mart provides technology-driven facilities and safety standards for worldwide business-to-business exhibits, conferences, congresses, product launches, and promotional events.