India Exposition Mart IPO

India Exposition Mart Limited Initial Public Offering is a book building issue of 3.02 crore equity shares, consisting of a fresh issue of up to 0.75 crore equity shares and an offer for sale of up to 2.27 crore equity shares.

The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited. Choice Capital Advisors Private Limited is the book-running lead manager, and Kfin Technologies Limited is the registrar of the issue. Key details, including the initial public offering dates, price band, and lot size, are yet to be announced.

About India Exposition Mart Limited

India Exposition Mart Limited was incorporated in New Delhi, India, in April 2001 under the Companies Act, 1956, and commenced business operations in June 2001. The company was established to develop dedicated infrastructure for hosting exhibitions, trade shows, conferences, promotional events, and business events in India, including facilities for exporters seeking to showcase their products to international buyers.

It operates an integrated exhibition and convention centre under the brand name India Expo Centre and Mart in Greater Noida, Uttar Pradesh, on a leasehold basis. The company is among the top four exhibition and convention venues in India by total area and is described in the Draft Red Herring Prospectus as the largest privately owned exhibition and convention venue in the country.

The company primarily operates in the meetings, incentives, conferences, and exhibitions industry, providing exhibition infrastructure, event management, hospitality, and related services. Its third-party events business involves licensing exhibition halls, open spaces, and ancillary facilities to event organisers. Through managed events, the company provides event planning, logistics, marketing, and execution services.

Under its own intellectual properties business, it develops and operates proprietary exhibitions and events, generating revenue through sponsorships, exhibitor fees, visitor admissions, and brand licensing. The company also operates hospitality facilities, facilitates the international distribution of Indian handicrafts through its Expo Bazaar business-to-business platform, and provides maintenance and facility management services to permanent showroom owners.

India Exposition Mart operates its principal exhibition and convention facility across approximately 57 acres in Greater Noida, Uttar Pradesh. The company operates ExpoInn Suites, a guesthouse within the exhibition complex certified as five-star by the Ministry of Tourism; Plume Hotel, an adjacent leased hotel; Mor Stays, a chain of corporate hotels operated on a managed basis; and five Bean & Brew café outlets.

The company has expanded its activities beyond venue licensing into event management, proprietary exhibitions, hospitality, and export supply chain management. Through its subsidiary, Expo Digital India Private Limited, and its step-down subsidiaries, it operates Expo Bazaar, a business-to-business digital platform intended to facilitate the marketing, payment, shipping, and delivery of Indian handicrafts to international buyers, including markets such as the United States, Canada, Singapore, and Vietnam. Its maintenance services business supports 1,800 permanent showrooms within India Expo Centre and Mart, operated by 774 exporters as of July 31, 2026. The company has also hosted events and conventions across different states and union territories in India, including Maharashtra, Karnataka, West Bengal, Delhi, and Gujarat. During the three financial years ended March 31, 2026, the company managed and organised 156 exhibitions, events, and conventions, including the India International Hospitality Expo, CPHI and PMEC India, IHGF Delhi Fair, and WOFA 2.0.

Industry Outlook

• India’s Meetings, Incentives, Conferences, and Exhibitions industry is one of the fastest-growing segments of the country’s service economy, supported by infrastructure investment, government initiatives, and a growing corporate sector.
• The domestic Meetings, Incentives, Conferences, and Exhibitions market was estimated at ₹4,77,000 crore in the financial year 2025–26, reflecting a compound annual growth rate of 14.1% between the financial years 2019–20 and 2025–26.
• The domestic Meetings, Incentives, Conferences, and Exhibitions market is projected to grow at a compound annual growth rate of 12–14% between the financial years 2025–26 and 2029–30, reaching ₹7,50,000–₹8,00,000 crore by the financial year 2029–30.
• Government initiatives such as Make in India and Meet in India, alongside investments in exhibition and convention infrastructure, are expected to support demand for business events, trade exhibitions, and conferences.
• Expansion of exhibition venues and convention centres, including Yashobhoomi in New Delhi and upcoming projects in Chennai, Goa, and other cities, is expected to strengthen India's capacity to host domestic and international events.
• Growing corporate activity, startup ecosystem expansion, international business travel, and demand for product launches and business-to-business conferences are creating opportunities for the Meetings, Incentives, Conferences, and Exhibitions industry.
• The adoption of established international exhibition brands in India, expansion of Indian exhibition brands into overseas markets, and government-supported buyer-seller meets are expected to create additional opportunities for trade exhibitions and international business networking.
• The industry faces challenges from competition with established global destinations such as Singapore and Dubai, infrastructure gaps in smaller cities, regulatory complexities, skilled workforce shortages, economic volatility, and the growing adoption of virtual and hybrid events.

India Exposition Mart IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• Funding capital expenditure requirements of the company.
• Towards general corporate purposes.

Financial Performance of India Exposition Mart Limited

India Exposition Mart Limited Peer Details Comparison 

Strengths and Opportunities of India Exposition Mart IPO

1. India Exposition Mart Limited is among the top four exhibition and convention venues in India by total area, according to the CRISIL Report cited in the DRHP.
2. The company operates the India Expo Centre and Mart across 57 acres in Greater Noida, positioning it as one of India’s largest integrated exhibition and convention centres.
3. It is described in the DRHP as India’s largest privately owned exhibition and convention venue, providing a competitive position in the domestic MICE industry.
4. The company has a diversified business model comprising six complementary revenue streams, including third-party events, own-IP events, managed events, hospitality services, export supply chain management, and maintenance services.
5. The company has an established track record, having managed and organised 156 events and exhibitions over the preceding three financial years.
6. The company reported more than 45 confirmed bookings for forthcoming events and exhibitions as of July 31, 2026, providing visibility into its upcoming event pipeline.
7. India’s MICE industry presents a growth opportunity, supported by government initiatives, investment in convention infrastructure, improving connectivity, and rising demand for corporate events and international exhibitions. The DRHP’s CRISIL industry report projects continued growth in the domestic MICE market.

Risks and Threats of India Exposition Mart IPO

1. The company’s business is exposed to fluctuations in the MICE industry. Any slowdown in industry activity could affect demand for its venues and related services.
2. The company faces competition from other exhibition and convention venues, as well as established international MICE destinations. Competitors may attract event organisers by offering better facilities, pricing, or incentives.
3. The company’s top 10 event organisers contributed approximately 90.77% of revenue from its third-party events vertical in FY26. Losing a major organiser or event could materially affect revenue.
4. Substantially all exhibition and convention activities are conducted at the company’s Greater Noida venue. Fire, flooding, power failure, regulatory action, or other disruptions could lead to event cancellations and revenue losses.
5. Higher employee, utility, maintenance, security, insurance, and compliance costs, along with competitive pressure on venue fees, could adversely affect profitability if the company cannot pass on the additional costs to customers.
6. Economic downturns, reduced corporate or government event spending, and seasonal demand fluctuations could lead to postponed, cancelled, or downsized events, affecting the company’s revenue and financial performance.
7. Regulatory complexities, pandemics, natural disasters, geopolitical developments, and restrictions on travel or mass gatherings could disrupt operations, reduce event participation, and adversely affect the company’s business and financial condition.

India Exposition Mart IPO Reservation