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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 ₹51.00 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). The minimum lot size investment for 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 Date | February 22, 2021 to February 25, 2021 |
| Listing Date | March 5, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹51 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 15,20,000 shares (aggregating up to ₹7.75 Cr) |
| Reserved for Market Maker | 76,000 shares NNM Securities Pvt.Ltd. (aggregating up to ₹0.3876 Cr) |
| Net Offered to Public | 14,44,000 shares (aggregating up to ₹7.36 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 40,80,000 shares |
| Share Holding Post Issue | 56,00,000 shares |
Party Cruisers IPO offers total 15,20,000 shares. Out of which 7,22,000 (47.50%) allocated to NII, 7,22,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 76,000 (5.00%) |
| NII (HNI) Shares Offered | 7,22,000 (47.50%) |
| Retail Shares Offered | 7,22,000 (47.50%) |
| Total Shares Offered | 15,20,000 (100.00%) |
Party Cruisers IPO opens on February 22, 2021, and closes on February 25, 2021.
| IPO Open Date | Mon, Feb 22, 2021 |
| IPO Close Date | Thu, Feb 25, 2021 |
| Tentative Allotment | Tue, Mar 2, 2021 |
| Initiation of Refunds | Wed, Mar 3, 2021 |
| Credit of Shares to Demat | Thu, Mar 4, 2021 |
| Tentative Listing Date | Fri, Mar 5, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Feb 25, 2021 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| 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 | |
The Company Party Cruisers IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] The issue is aggressively priced. Post COVID-19 restriction on Wedding parties, events etc has dented working of the company drastically and changed lifestyle post-pandemic may raise concern for the sustainability of its business model. Considering all these, there is no harm in giving this issue a MISS. Read detail review...
| Listing Date | March 5, 2021 |
| BSE Script Code | |
| NSE Symbol | PARTYCRUS |
| ISIN | INE06ZX01015 |
| Final Issue Price | ₹51 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹51.00 |
| Open | ₹54.00 |
| Low | ₹51.30 |
| High | ₹54.00 |
| Last Trade | ₹51.30 |
Party Cruisers Ltd.
303/304/305, Simran Plaza, Khar 4th Road,
Next to Regal Enclave Hotel,
Khar (West),
Mumbai, Maharashtra, 400052
Phone: 91 22 49739352
Email: compliance@partycruisersindia.com
Website: http://www.partycruisersindia.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Party Cruisers IPO is a SME IPO of 15,20,000 equity shares of the face value of ₹10 aggregating up to ₹7.75 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000.
The IPO opens on February 22, 2021, and closes on February 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 February 22, 2021 and closes on February 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 Thursday, March 4, 2021. Check the Party Cruisers IPO allotment status.
The Party Cruisers IPO listing date is on Friday, March 5, 2021.
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