Party Cruisers Limited, established in 1994, is a company that specializes in managing weddings and events. They provide a comprehensive range of services for events, including pre-event publicity, venue search and booking, transportation, on-site management, staffing, entertainment, set-up, designing, final material distribution, post-event report, and attendance assessment. Their goal is to create an aesthetic and luxurious ambiance for customers throughout the entire event.
The company has two registered brands, “Vivaah” and “Vows-Away and Beyond,” which provide professional wedding services, while event management services are offered under the brand “Event Factory” and through franchisees. Additionally, they have a brand called “Live Space,” which specializes in venue and set construction, design, and consulting for weddings.
Party Cruisers IPO Details
| IPO Date | Feb 22, 2021 to Feb 25, 2021 |
| Listing Date | Mar 5, 2021 |
| Face Value | ₹10 per share |
| Price | ₹51 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 1,520,000 shares (aggregating up to ₹7.75 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
Party Cruisers IPO Tentative Timetable
Party Cruisers IPO opens on Feb 22, 2021, and closes on Feb 25, 2021.
| Event | Tentative Date |
| Opening Date | Feb 22, 2021 |
| Closing Date | Feb 25, 2021 |
| Basis of Allotment | Mar 2, 2021 |
| Initiation of Refunds | Mar 3, 2021 |
| Credit of Shares to Demat | Mar 4, 2021 |
| Listing Date | Mar 5, 2021 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Industry Overview
The event management industry has experienced significant growth in recent years due to the increasing demand for event planning services from individuals, corporate organizations, and governments. This growth has been driven by factors such as rising disposable incomes, changing consumer preferences, increasing urbanization, and the growing importance of social media in promoting events.
According to a report by Market Research Future, the global event management software market is expected to grow at a compound annual growth rate (CAGR) of 11% from 2017 to 2023. Another report by IBISWorld indicates that the wedding services industry in the US is expected to grow at a CAGR of 4.4% from 2021 to 2026.
Company Financials
Summary of financial Information (Restated Consolidated)
| 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 Prospectus
Company Contact Information
Party Cruisers Limited
303/304/305, Simran Plaza, Khar 4th Road,
Next to Regal Enclave Hotel, Khar (West),
Mumbai – 400 052
Phone: 91 22 49739352
Email: compliance@partycruisersindia.com
Website: http://www.partycruisersindia.com/
Party Cruisers IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
Party Cruisers IPO Lead Manager(s)
- First Overseas Capital Limited (Past IPO Performance)
