Fixed Price IPO | ₹8 Cr | Listed at NSE SME | Mon, Feb 22, 2021 - Thu, Feb 25, 2021
Party Cruisers IPO is a fixed price issue of ₹7.75 crores. The issue is entirely a fresh issue of 0.15 crore shares of ₹7.75 crore.
Party Cruisers IPO bidding started from Feb 22, 2021 and ended on Feb 25, 2021. The allotment for Party Cruisers IPO was finalized on Mar 2, 2021. The shares got listed on NSE SME on Mar 5, 2021.
Party Cruisers IPO price is ₹51 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,02,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,04,000.
First Overseas Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Party Cruisers IPO RHP for detailed Information.
IPO Open
Mon, Feb 22, 2021
IPO Close
Thu, Feb 25, 2021
Issue Price
₹51 per share
Market Cap (Pre-IPO)
₹28.56 Cr
| IPO Date | 22 to 25 Feb, 2021 |
| Listed on | Fri, Mar 5, 2021 |
| Face Value | ₹10 per share |
| Issue Price | ₹51 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 15,20,000 shares (agg. up to ₹8 Cr) |
| Reserved for Market Maker | 76,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹0.3876 Cr) |
| Fresh Issue (Ex Market Maker) | 14,44,000 shares (agg. up to ₹7 Cr) |
| Net Offered to Public | 14,44,000 shares (agg. up to ₹7 Cr) |
| Share Holding Pre Issue | 40,80,000 shares |
| Share Holding Post Issue | 56,00,000 shares |
| NSE Symbol | PARTYCRUS |
| ISIN | INE06ZX01015 |
Party Cruisers IPO comprises a total issue size of 15,20,000 shares. The net offer to the public is 14,44,000 shares, after excluding 76,000 shares allotted on a firm basis. Of the Net offer 7,22,000 (50.00%) allocated to NII 7,22,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,22,000 | 50.00% | 47.50% |
| Retail Shares Offered | 7,22,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 76,000 | 5.00% | |
| Total Shares Offered | 15,20,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,02,000 |
| Retail (Max) | 1 | 2,000 | ₹1,02,000 |
| HNI (Min) | 2 | 4,000 | ₹2,04,000 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of Business through strategic investment | 3.40 |
| 2 | Additional Working Capital | 3.50 |
| 3 | General Corporate Expenses | 0.30 |
| 4 | To meet the expenses of the Issue | 0.55 |
The Party Cruisers IPO is subscribed 1.30 times on February 25, 2021 12:00:00 AM (Day 4). The public issue subscribed 2.26 times in the retail category, [.] times in the QIB category, and 0.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| NII* | 0.34 | 7,22,000 | 2,45,480 | |
| Retail | 2.26 | 7,22,000 | 16,31,720 | |
| Total | 1.30 | 14,44,000 | 18,77,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other intermediaries such as Legal Advisorsto the IPO, Registrars and other out of pocket expenses | 0.50 |
| 2 | Printing & Stationery, Distribution, Postage, etc | 0.03 |
| 3 | Listing Fees, Market Regulatory & other expenses | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹51.00 |
| Open | ₹54.00 |
| Low | ₹51.30 |
| High | ₹54.00 |
| Last Trade | ₹51.30 |
Lead Manager Reports
Party Cruisers IPO is a SME IPO of 15,20,000 equity shares of the face value of ₹10 aggregating up to ₹8 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Feb 22, 2021, and closes on Thu, Feb 25, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Party Cruisers IPO using UPI as a payment gateway. Zerodha customers can apply in Party Cruisers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Party Cruisers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Party Cruisers IPO opens on Mon, Feb 22, 2021 and closes on Thu, Feb 25, 2021.
Party Cruisers IPO lot size is 2000, and the minimum amount required for application is ₹1,02,000.
You can apply in Party Cruisers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Party Cruisers IPO will be done on Tuesday, March 2, 2021, and the allotted shares will be credited to your demat account by Thu, Mar 4, 2021. Check the Party Cruisers IPO allotment status.
The Party Cruisers IPO listing date is on Fri, Mar 5, 2021.
