Touchwood Entertainment Limited became the first event management company in India to get listed on the National Stock Exchange (NSE). The issue will be available from 11 to 13 December 2017.
Public issue of 10,53,000 equity shares with face value of Rs 10 each, of Touchwood Entertainment Limited (TEL), for cash at a price of Rs 40 per equity share including a share premium of Rs 30 per equity share (Issue price) aggregating to Rs 421.20 Lakhs will be available. Out of the total number of equity shares available, 54,000 equity shares aggregating to Rs 21.60 Lakhs will be reserved for subscription by the market maker to the issue (Market Maker Reservation Portion). The net issue of 9,99,000 equity shares will aggregate to Rs 399.60 Lakhs.
Touchwood Entertainment Limited Director Manjit Singh said,
“Now the government is recognizing the event management industry and this is a big boost for us. We have always targeted weddings and corporate events and now we can target political space too.”
We asked CA Vinit Deo, CMD, Posiview Consulting Partners on why should we invest in the shares of event management companies, an industry which hardly had government support till very recently.
“Event Management companies are moving up from being just service and facility management to creating large format events, own branded properties and innovative products. These companies will create long-term value for the stakeholders as each event is unique and hence we will see more such companies scaling up and being listed on exchanges in the next few years.“
Touchwood Entertainment, established in 1997 has been celebrated locally, regionally and Internationally as an event management company. They have won numerous awards for their creative, design and production work and continue to raise the bar. Touchwood has targeted wedding events, corporate events, décor management and entertainment industry which has provided an opportunity for unleashing one’s creativity to a very high degree.