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Party Cruisers IPO is a fixed price issue of Rs 7.75 crores.
Party Cruisers IPO bidding started from February 22, 2021 and ended on February 25, 2021. The allotment for Party Cruisers IPO was finalized on Tuesday, March 2, 2021. The shares got listed on NSE SME on March 5, 2021.
Party Cruisers IPO price is ₹51 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹102,000.
First Overseas Capital Limited is the book running lead manager of the Party Cruisers IPO, while Kfin Technologies Limited is the registrar for the issue.
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 |
| 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 |
| Market Maker portion | 76 shares |
Party Cruisers IPO offers 1,444,076 shares. 722,000 (50.00%) to NII, 722,000 (50.00%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 76 (0.01%) |
| Other Shares Offered | 722,000 (50.00%) |
| Retail Shares Offered | 722,000 (50.00%) |
| Total Shares Offered | 1,444,076 (100%) |
Party Cruisers IPO opens on February 22, 2021, and closes on February 25, 2021.
| IPO Open Date | Monday, February 22, 2021 |
| IPO Close Date | Thursday, February 25, 2021 |
| Basis of Allotment | Tuesday, March 2, 2021 |
| Initiation of Refunds | Wednesday, March 3, 2021 |
| Credit of Shares to Demat | Thursday, March 4, 2021 |
| Listing Date | Friday, March 5, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 25, 2021 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹102,000 |
| Retail (Max) | 1 | 2000 | ₹102,000 |
| Lot Size Calculator | |||
Mr. Zuzer Hatim Lucknowala and Mrs. Rachana Zuzer Lucknowala are the promoters of the company.
| Share Holding Pre Issue | 94.30% |
| Share Holding Post Issue | 68.71% |
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 key objectives of the IPO are as follows;
[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 |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹51.00 |
| ₹54.00 |
| ₹51.30 |
| ₹54.00 |
| ₹51.30 |
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/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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Party Cruisers IPO is a SME IPO of 1,520,000 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 Shares.
The IPO opens on February 22, 2021, and closes on February 25, 2021.
Kfin Technologies Limited 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 Shares, and the minimum amount required is ₹102,000.
You can apply in Party Cruisers IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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