Party Cruisers IPO is going to open for subscription on 22 February 2021. the company aims for an issue size of ₹7.75 Crore through this fixed price SME IPO.
Also read: IPO List 2021: a complete list of IPOs in 2021
Party Cruisers Limited
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 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.
Objective of the Issue
- To expand business through strategic investment.
- To meet additional working capital requirements.
- For general corporate purposes.
- To meet issue expenditures.
Competitive Strengths
- Established brand name and strong franchisee model.
- Well-established relationship with suppliers.
- Strong in-house designing capabilities.
- Range of services including wedding and event management.
- Diversified revenue base.
- Experienced team of promoters.
Basic details about the company
| Full name | Party Cruisers Limited |
| Sector | NA |
| Industry | Event management |
| Company Website | www.partycruisersindia.com |
Dates to remember
| IPO Open | 22 February 2021 |
| IPO Close | 25 February 2021 |
| Basis of Allotment | 02 March 2021 |
| Refunds date | 03 March 2021 |
| Credit to Demat Account | 04 March 2021 |
| Listing Date | 05 March 2021 |
IPO Details
| Issue type | Fixed-PriceIPO |
| IPO issue size | ₹₹7.75 crore |
| IPO Open date | 22 February 2021 |
| IPO Close date | 25 February 2021 |
| Number of shares offered to the public | 1,520,000 shares |
| Face value | ₹10 per equity share |
| Offer price | ₹51 per equity share |
| Retail portion | 50% |
| Lot size | 2000 Nos |
| Minimum application | 1 lot – 2000 shares |
| Minimum application amount | ₹102,000 |
| Listing Exchange | NSE (NSE Emerge SME platform) |
Financial summary
| Party Cruisers’ financial performance (in INR crore) | ||||
| FY2018 | FY2019 | FY2020 | H1 FY2021 | |
| Revenue | 15.36 | 18.88 | 15.89 | 1.71 |
| Expenses | 13.29 | 16.05 | 14.26 | 1.45 |
| Net income | 1.48 | 1.93 | 1.00 | 0.23 |
Valuation of Party Cruisers IPO (FY2020)
| Earnings Per Share (EPS) | ₹ 2.45 |
| Price/Earnings (PE ratio) | 20.82 |
| Return on Net Worth (RONW) | 10.81% |
| Net Asset Value (NAV) | ₹ 22.70 per share |
Company Promoters
- Mr Zuzer Hatim Lucknowala
- Mrs Rachana Zuzer Lucknowala
| Pre Issue Share Holding | 94.30% |
| Post Issue Share Holding | 68.71% |
Lead Managers
- First Overseas Capital Limited
Registrar of Party Cruisers IPO
KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Party Cruisers Contact Details
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: www.partycruisersindia.com
Party Cruisers IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.12 |
| Day 2 | 0.39 |
| Day 3 | 0.71 |
| Day 4 | 1.24 |
Party Cruisers IPO Allotment Status
Party Cruisers IPO allotment status will be available on KFin’s websites, click on any of these links to get allotment status.
Allotment Status Link #1
Final thoughts
Party Cruisers IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post gave you enough details to make a fundamental study of the company. learn well and make a wise decision.
happy investing