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Propshop Events and Exhibitions

SME · NSE listed
-20.00%
Listing gain
Price Band
₹65 – ₹69
Issue Size
₹28.57 Cr
1 lot at upper band
₹1,38,000
Lot Size
2,000
Open
27 Jul 2026
Close
29 Jul 2026
Allotment
—
Listing
03 Aug 2026

Scheduled dates

  1. Open
    27 Jul 2026
  2. Close
    29 Jul 2026
  3. Refund
    31 Jul 2026
  4. Demat credit
    31 Jul 2026
  5. Listing
    03 Aug 2026

Listing Performance

Listing Price
₹55.2
Listing Gain
-20.00%
Day Close
—
Current (LTP)
— (—)

GMP Trend*

Daily grey market premium (₹). Unofficial.

Latest GMP: ₹0 7 sessions

Subscription (times)

Latest per-category subscription · as of 29 Jul, 06:56 pm IST.

QIB 1.37x
NII 1.38x
BHNI 1.19x
SHNI 1.75x
RII 1.77x
Total 1.53x

About Propshop Events and Exhibitions

The company is engaged in the business of trade show and exhibition booth solutions, offering both custom-built and modular exhibition options. The company outsources booth fabrication and related services which are carried out under the supervision of the Company, while design and conceptualization are handled in-house and through project-based collaborations with professionals. The company's services extend from concept design and 3D visualization to project management, logistics, on-site supervision, fabrication, installation, and post-event dismantling support. With a physical presence in India and working relationships with local teams across other key global markets hosting major exhibition hubs such as the United States, the United Kingdom, Dubai, Germany, Spain, Singapore, etc., the company brings over 12 years of experience in executing both B2B and B2C-focused events, providing end-to-end booth services adapted to the specific needs, branding goals, and regional regulations of clients.

www.thepropshopindia.com ↗

Strengths

  • Established track record in a fragmented industry
    The company has successfully executed over 5,000 exhibition stands for more than 1,100 clients with an in-house team of 100+ professionals, establishing itself as a structured and process-driven service provider in the traditionally unorganised exhibition sector.
  • Agile, asset-light business model enabling scalable growth
    The company operates an asset-light model with strategic rental of godowns and equipment, enabling a CAGR of 30.13% over 2 years in booths delivered globally and 245% growth in international clientele from 20 to 69 clients.
  • Global execution framework enabled by established practices and local integration
    The company operates with over 100 trained professionals and maintains a hybrid delivery model combining in-house capabilities with a curated network of 53 active subcontractors globally, serving 24 international markets.
  • Brand-led booth design by skilled in-house marketing & branding team
    The company integrates marketing strategy with creative spatial design through its in-house marketing and branding team, creating booth experiences that serve as immersive brand environments beyond traditional fabrication.
  • Strong financial foundation for future growth
    The company achieved revenue CAGR of 41.70% from ₹2,591.09 lakhs in FY2023 to ₹5,151.82 lakhs in FY2025, with PAT growing at CAGR of 157.10% and margins improving from 3.74% to 12.28%.
  • Experienced Promoters and senior management team
    The company is led by Promoter Prathamesh Pusalkar with over one decade of experience in marketing and project management, supported by co-promoter Aarti Pusalkar with 11+ years in HR and Administration.

Risk Factors

  • Geographic Revenue Concentration Risk
    The company's sales are heavily concentrated in Gujarat, Maharashtra and Karnataka, representing 68.21% of revenue for the period ended February 28, 2026. Any adverse developments in these states could significantly impact the company's business operations and financial performance.
  • Dependency on Third-Party Subcontractors
    The company outsources 90.89% of its services through subcontractors without formal agreements, exposing it to quality, delivery and cost risks. Any failure by subcontractors to meet standards or timelines could damage the company's reputation and client relationships.
  • Leased Premises Dependency
    The company operates its registered office and godown facilities on leased premises with short-term agreements. Inability to renew leases or find alternative locations could disrupt operations and increase costs significantly.
  • Negative Cash Flow from Operations
    The company experienced negative cash flows from operating activities in Fiscal 2024 (₹9.34 lakhs). Continued negative cash flows could materially impact the company's ability to operate and implement growth plans.
  • Significant Working Capital Requirements
    The company's net working capital requirements increased from ₹91.53 lakhs in FY2023 to ₹1,597.39 lakhs in February 2026. Inability to secure adequate working capital financing could adversely affect operations and growth prospects.
  • Customer Concentration Risk
    The company's top 10 customers represent 22.66% of total revenue without firm commitment agreements, relying only on purchase orders. Loss of key customers or significant reduction in their demand could adversely affect business performance.
  • Counterparty Credit Risk
    The company faces significant credit risk with trade receivables of ₹911.22 lakhs as of February 28, 2026. Delays in payment collection or customer defaults could materially impact cash flows and operations.
  • Regulatory and Tariff Uncertainties
    The company derives 32.26% of export revenue from the United States, making it vulnerable to tariff impositions and trade policy changes. Such regulatory uncertainties could reduce competitiveness and adversely impact demand.
  • Unsecured Loan Recall Risk
    The company has ₹117.99 lakhs in outstanding unsecured loans as of June 30, 2026, which may be recalled by lenders at any time. Such recalls could force the company to seek alternative financing on unfavorable terms or affect liquidity.
  • Supplier Dependency and Material Cost Volatility
    The company's top 10 suppliers contribute 51.05% of total supply costs without long-term agreements. Material price volatility and supply disruptions could significantly impact profitability and operational capabilities.

Objects of the Issue

  • Funding working capital requirements of the Company
    The company proposes to utilize funds to enhance operational capabilities and expand into higher-margin verticals in the event management industry. This includes strengthening working capital base to manage multiple concurrent projects, pre-event preparations, vendor advances, material procurement, and logistics under compressed timelines.
    16.62 crores
  • General Corporate Purposes
    The company proposes to deploy funds towards general corporate purposes including business development initiatives, meeting expenses such as salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes and duties, and similar expenses incurred in ordinary course of business.

Financial Snapshot

Annual values as reported in the offer document.

Year endRevenueRev. growthProfitProfit growthAssetsEquityOperating cash flow
31/03/202551.59+68.8%6.32+188.6%18.4611.320.14
31/03/202430.57-49.0%2.19-66.1%11.104.17-0.09
28/02/202659.94—6.46—25.7117.782.25
Units: crores

Issue Details

Face Value
₹10
P/E
12.32
ROCE
74.14%
Shares / Lot
2,000
Minimum Bid
4,000 shares
Refund
31 Jul 2026
Credit to Demat
31 Jul 2026
ISIN
INE1FFX01018
CIN
U92490MH2019PLC329470
Registrar
MUFG Intime India Pvt.Ltd.
Lead Managers
Unistone Capital Pvt.Ltd.
Registered Office
18E AC Shed, Plot No. 837, TPS 3, Mori Road, Mahim West, Mahim, Mumbai - 400016, Maharashtra, India
RHP ↗DRHP ↗

Management

Prathamesh Shantaram PusalkarMD
Shreyas Shrikant RumadeCOO
Aarti Prathamesh PusalkarDirector
Ajay JangirDirector
Bhavesh Rameshkumar JainDirector
Priyanka Akshat LadCFO
Saloni Priyank DoshiDirector of Operations
Muthumani Thangadurai NadarVP of Sales
Tushar Sudhakar KhanvilkarVP of Sales

* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.