Party Cruisers IPO Review, Size, Dates, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Party Cruisers Limited IPO release date, IPO offer price, subscription, Party Cruisers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 51 |
| Listing At | NSE SME |
| Min. Order Quantity | 2000 shares |
| Listing Date | Mar 5, 2021 |
| IPO Size | 1,520,000 Eq Shares |
| Tick Size | Rs. 1 |
Summary of Party Cruisers Limited IPO
Company acknowledges the fact that through their employee`s appearance, professionalism, performance, approach, presentation and commitment levels, their company can be successful in creating an ‘AWE’ experience and an ‘AESTHETIC’ ambiance for all clients thereby surpassing their vision of the events.
As a Wedding and Events Management, they work on the initial conception (pre-event publicity, venue research & booking, transport), to turnkey production (set-up, on-site management, staffing, stage designing, entertainment), to post-event support (final material distribution, delegate attendance assessment, post-event report) – they take care of everything.
Party Cruisers Limited IPO Date
The opening and the closing date of Party Cruisers Limited IPO is Feb 22, 2021 and Feb 23, 2021.
Party Cruisers Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Party Cruisers Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Party Cruisers Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | Mar 2, 2021 |
| Refunds Initiation | Mar 3, 2021 |
| Credit of Shares to Demat Account | Mar 4, 2021 |
| Share Listing Date | Mar 5, 2021 |
Party Cruisers IPO Cash Price
The face value of each share is Rs 10, but the price band of the IPO is Rs 51.
Party Cruisers IPO Equity Size
This Initial Public Issue of 1,520,000 Equity Shares of Rs.10 each for cash at a price of Rs. 51 per equity share aggregating to Rs. 7,75,20,000
Party Cruisers IPO Share Offering
- Reserved for Market Makers: 76,000 Equity Shares aggregating to Rs. 38,76,000/-.
- Net Issue to the Public: 14,44,000 Equity Shares aggregating to Rs. 7,36,44,000/-
Party Cruisers IPO – Live Performance
The listing date of this IPO is Mar 5, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Party Cruisers Share Price |
Party Cruisers IPO Grey Market Premium
The Party Cruisers IPO GMP / Grey Market Premium price is Rs x, the Kostak rate is Rs x and the Subject to Sauda is X.
Party Cruisers Limited – Company Overview
Party Cruisers Limited came (PCL) into existence in 1994. Since incorporation, their Company specializes in Wedding Management and Events Management Business wherein they offer all of their clients a complete variety of wedding and event facilities.
The Wedding Management Services range from pre-wedding, during wedding and post wedding events like in-house designing, designation wedding event décor etc. Their Event Services range from planning & marketing to production and décor etc.
Their individual promoters manage and control the major affairs of their business operations. Through their combined 49 plus years of experience, industry knowledge and understanding, their company has a competitive advantage over the their competitors which enables them to expand their geographical and customer presence in existing as well as target markets, while exploring new growth avenues.
Through their combined 49 plus years of experience, industry knowledge and understanding, their company has a competitive advantage over the their competitors which enables them to expand their geographical and customer presence in existing as well as target markets, while exploring new growth avenues.
PARTY CRUISER FRANCHISEE’S
They work in unity with all the Franchisee’s and are open to all opportunities and talents with productive inputs to the growth of their company. Till date their Company has entered 7 Franchisee Agreements.
Party Cruisers Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Party Cruisers IPO
On the basis of Standalone statement:-
| Amount (in INR & lakhs) | ||||
| Sep 20 | Mar 20 | Mar 19 | Mar 18 | |
| Total Assets | 1169.44 | 1227.7 | 1194.35 | 1014.12 |
| Total Revenue | 171.49 | 1588.58 | 1888.17 | 1535.67 |
| Total Expense | 145.27 | 1425.91 | 1605.05 | 1329.32 |
| Profit After Tax | 22.94 | 100.09 | 193.47 | 147.8 |
Earnings per Equity Share (in lakhs)
| Amount (in INR & lakhs) | ||||
| Sep 20 | Mar 20 | Mar 19 | Mar 18 | |
| Basic & Diluted | 0.56 | 2.45 | 4.78 | 295.60 |
From FY 2017-18 to FY 2018-19, as per the Restated Financial Statements
- Revenues have grown from Rs. 477.21 lakhs in FY 2017-18 to Rs. 713.32 lakhs in FY 2018-19
- The net asset value per Equity Share was Rs. 14.55 and Rs. 10.05 as of Mar 30, 2019 and March 31, 2018, respectively, as per the Restated Financial Statements
- The net worth of the company as on March 31, is Rs. 320.16 lakhs as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
- The net profit after tax was Rs 30.04 lakhs in FY 2018-19 and Rs.3.88 lakhs in FY 2018-19.
The Promoter of this company are MR. ZUZER HATIM LUCKNOWALA & MRS. RACHANA ZUZER LUCKNOWALA. The lead manager to the issue is FIRST OVERSEAS CAPITAL LIMITED and the Registrar to this issue is Karvy Fintech Private Limited.
Party Cruisers Limited IPO – Promoters
The Promoter of this company is:
- MR. ZUZER HATIM LUCKNOWALA
- MRS. RACHANA ZUZER LUCKNOWALA
List of Related Parties (Key Managerial Personnel)
- Mrs. Rachana Zuzer Lucknowala, Managing Director
- Mr. Zuzer H. Lucknowala, CEO
- Mrs. Phyllis Polekad, CFO
- Ms. Namrata Subhashsingh Negi, Company Secretary and Compliance officer
Business strategies of Party Cruisers Limited
- Focusing on increasing reach within India
- Innovation in Wedding Services
- Enhancing Operating Effectiveness & efficiency
- Focus on International Wedding Management
- Marketing
- Continue to maintain strong relation with existing supplier
- Leveraging their Marketing skills and Relationship
Party Cruisers Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 15,20,000 Equity Shares aggregating to Rs. 7,75,20,000/- |
| Of which: | |
| Reserved for Market Makers | 76,000 Equity Shares aggregating to Rs. 38,76,000/-. |
| Net Issue to the Public | 14,44,000 Equity Shares aggregating to Rs. 7,36,44,000/- |
| Of which: | |
| Retail Investors Portion | 7,22,000 Equity Shares aggregating Rs. 3,68,22,000/-. |
| Non-Retail Investors Portion | 7,22,000 Equity Shares aggregating Rs. 3,68,22,000/-. |
| Equity Shares outstanding prior to the Issue | 40,80,000 Equity Shares |
| Equity Shares outstanding after the Issue | 56,00,000 Equity Shares |
Party Cruisers IPO Issue Object
These are the IPO Issue Objects of the company:
- Expansion of Business through strategic investment;
- Additional Working Capital;
- General Corporate Expenses; and
- To meet the expenses of the Issue.
Party Cruisers Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established brand name
- Well established relationship with our supplier
- Wide Range of our Services
- Diversified business operations and revenue base
- Experience of our Promoters
- Experienced management team & efficient work force
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-20 | 2.45 | 10.81 | – |
| 31-Mar-19 | 4.78 | 24.62 | 14.55 |
| Mar-18 |
295.60
|
24.11 | 22.70 |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 45:
| Particulars | P/E ratio |
| Highest | 115.67 |
| Average | 43.2 |
| Lowest | 5.26 |
Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) Basic | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Party Cruisers Limited | 10 | 0.56 | 91.07 | 2.42 | 23.26 |
| –Peer Group– | |||||
| Touchwood Entertainment Limited | 10 | (1.30) | 102.05 | (12.11) | 1.08 |
Party Cruisers Limited IPO Lead Managers
| Lead Managers |
| FIRST OVERSEAS CAPITAL LIMITED 1-2 Bhupen Chambers, Ground Floor, Dalal Street, Mumbai-400 001 Tel. No.: +91 22 40509999 Email: rushabh@focl.in/satish@focl.in/mala@focl.in Investor Grievance Email: investorcomplaints@focl.in Website: www.focl.in Contact Person: Mr.Sunu Thomas / Ms. Mala Soneji
SEBI Registration No.: INM000003671
|
Party Cruisers Limited IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited Selenium Building, Tower-B,Plot No 31 & 32,Gachibowli,Financial District, Nanakramguda, Serilingampally, Hyderabad, TelanganaIndia -500 032. Tel. No.: +91 40 6716 2222 Fax No.: +91 40 2343 1551 E-mail: pcl.ipo@kfintech.com Investor Grievance Email: einward.ris@kfintech.com Website: www.kfintech.com Contact Person: Mr. M Murali Krishna SEBI Registration No.: INR000000221 |
Party Cruisers IPO – Other Details
- Statutory Auditor – RAMANAND &ASSOCIATES,CHARTERED ACCOUNTANTS
- Legal Advisor to the Company – RAJANI ASSOCIATES, ADVOCATES & SOLICITORS
- Bankers to the Company – HDFC BANK LIMITED, KOTAKMAHINDRA BANK LIMITED and AXISBANK LIMITED
Party Cruisers Limited IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
Party Cruisers Limited IPO News
News 1 – Party Cruisers IPO ISSUE [Download RHP Prospectus]
Party Cruisers IPO Review FAQs
Ques – What is the Issue Size of Party Cruisers IPO?
Answer – The Company is making an initial public offer of 1,520,000 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on fresh issue, Offer for sale, and the net issue.
Ques – What is the Price band?
Answer – The IPO cash price for this particular IPO Rs 51. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Party Cruisers IPO Open Date?
Answer – The IPO is set to open on Feb 22, 2021, while the closing date is set at Feb 25, 2021.
Ques – What is the IPO Allotment Date?
Answer – We also have the news regarding the respective allotment dates. Basis of Allotment finalization is on Mar 2, 2021, refund initiation is on Mar 3, 2021, credit of shares is on Mar 4, 2021 and share listing date is on Mar 5, 2021.
Ques – What is the IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges Mar 5, 2021.
Ques – Who is the Registrar of this IPO?
Answer – One of the reputed registrars are managing the issue of this IPO, i.e. NA. Their website will help you regarding the further information you are on a lookout for.
Ques – Who is the Promoter of this Company?
Answer – The Promoter of this company is:
- MR. ZUZER HATIM LUCKNOWALA
- MRS. RACHANA ZUZER LUCKNOWALA
Ques – What is GMP of Party Cruisers IPO?
Answer – We have obtained the GMP of this IPO and it is NA. The further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Party Cruisers IPO good for Investment?
Answer – We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of this Company?
Answer – We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Lakhs is 100.09.
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