Shares of Maxposure debuted on the NSE (National Stock Exchange) SME (small and medium-sized enterprises) platform with a bumper listing on Tuesday at Rs 145, a nearly 340% premium from its issue price of Rs 33. However, the stock fell 5% to Rs 137.75 soon after listing. 

The Rs 20.26 crore SME IPO (Initial Public Offering) was open for subscription between January 15 and 17. The offer was a fresh issue of 61.4 lakh shares issued in lots of 4,000 shares and multiples thereof at a price band of Rs 31 to 33 per share. 

Maxposure’s IPO had the highest subscription figures so far in 2024, at 987.47 times at close. The quota for non-institutional investors was subscribed a whopping 1,947.5 times, while retail investors bid for 1,034.2 times the number of shares reserved for them.  

The book-running lead manager for the issue was GYR Capital Advisors, while Bigshare Services was the registrar, and Giriraj Stock Broking was the market maker for the SME IPO. 

The company plans to utilise the fresh proceeds from the public offer to fund expenses incurred towards various certifications from the Federal Aviation Administration and the European Union Aviation Safety Agency, working capital requirements, debt repayment, and general corporate purposes.

Maxposure is a diverse new-age media and entertainment firm providing 360-degree services in over 21 foreign and Indian languages across various distribution platforms to tourism, automobile, hospitality, aviation, lifestyle, fashion, real estate and banking sectors.