Leading hospitality and events agency Party Cruisers today said it has initiated plans to raise SME IPO and list on NSE SME platform in the coming quarter.
The company has announced its foray into the ever expanding e-commerce sphere with the launch of their website.
"We have initiated plans to raise SME IPO and list on NSE SME platform in the coming quarter. If India is to achieve its aim of double-digit growth rates and provide employment to millions of people, a major chunk of this will come from the SME sector," Party Cruisers Managing Director Zuzer Lucknowala said in a statement here.
SME IPO provides an excellent opportunity to SME entrepreneurs to raise equity capital for growth and expansion.
"While there are no accurate estimates of the size of the event industry, it has been variously estimated at between Rs 2,000 crore and Rs 5,000 crore with an immense scope to grow.
"Ideas Design Production is a unique offering which helps planning and executing events related to corporates, weddings, parties and other occasions easily and completely in just a few clicks," he said.
"We are currently operational in Mumbai and will be venturing into the markets of Pune, Goa and Surat by this year end. The company is targeting a more evolved set of internet savvy shoppers who are heavy users of e-commerce portals and largely access them to save on time along with enjoying the ease of product delivery," he said.
