Party Cruisers Limited IPO (Party Cruisers IPO) Details
Party Cruisers Limited Incorporated in 1994, Party Cruisers Limited is specialized in wedding management and event management activities. The company offers a range of event activities from pre-wedding to during wedding and post-wedding activities such as in-house designing, destination wedding decor, etc.
From the initial conception (i.e. pre-event publicity, venue search, booking, transportation) to turnkey production (on-site management, staffing, entertainment, set-up, and designing) and post-event facilities (final material distribution, post-event report, attendance assessment) everything is managed by Party Cruisers to provide an AESTHETIC ambiance and luxury wedding experience to customers. It has two registered brands naming “Vivaah” and “Vows-Away and Beyond” to offer professional wedding services whereas event management facilities are provided under its own-brand “Event Factory” and through franchisee. It also has a brand “Live Space” that specializes in the venue and set construction, designing as well as consulting facilities for weddings.
The company generates 75% of the revenues from wedding management activities and the rest is contributed by event management activities.
Competitive strengths
- Established brand name and strong franchisee model.
- Well-established relationship with suppliers.
- Strong in-house designing capabilities.
- Range of services including wedding and event management.
- Diversified revenue base.
- Experienced team of promoters.
Company Promoters:
Mr. Zuzer Hatim Lucknowala and Mrs. Rachana Zuzer Lucknowala are the promoters of the company.
Company Financials:
| Particulars | For the year/period ended (₹ in Lakh) | ||||
|---|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 1169.44 | 1227.70 | 1194.35 | 1014.12 | |
| Total Revenue | 171.49 | 1588.58 | 1888.17 | 1535.67 | |
| Profit After Tax | 14.84 | 130.15 | 193.47 | 147.80 | |
Objects of the Issue:
The key objectives of the IPO are as follows;
- To expand business through strategic investment.
- To meet additional working capital requirement.
- To meet general corporate purposes.
- To meet issue expenditures.
Party Cruisers IPO Details
| IPO Opening Date | Feb 22, 2021 |
| IPO Closing Date | Feb 25, 2021 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹51 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | 1,520,000 Eq Shares of ₹10 (aggregating up to ₹7.75 Cr) |
Party Cruisers IPO Tentative Timetable
The Party Cruisers IPO open date is Feb 22, 2021, and the close date is Feb 25, 2021. The issue may list on Mar 5, 2021.
| IPO Open Date | Feb 22, 2021 |
| IPO Close Date | Feb 25, 2021 |
| Basis of Allotment Date | Mar 2, 2021 |
| Initiation of Refunds | Mar 3, 2021 |
| Credit of Shares to Demat Account | Mar 4, 2021 |
| IPO Listing Date | Mar 5, 2021 |
Party Cruisers IPO Lot Size
The Party Cruisers IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹102,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹102,000 |
| Maximum | 1 | 2000 | ₹102,000 |
Party Cruisers IPO Promoter Holding
| Pre Issue Share Holding | 94.30% |
| Post Issue Share Holding | 68.71% |
