Mach Conferences & Events has announced a major business win with a ₹92 crore order from the Punjab Government to manage a large-scale pilgrimage program. The comprehensive contract involves organizing and coordinating services for 185,000 yatris (pilgrims), marking a significant milestone for the event management company.

Contract Details

The substantial government contract encompasses the complete management of the pilgrimage program, with the company taking responsibility for coordinating services across the entire initiative. The project specifications highlight the scale of the undertaking:

Project Scope and Timeline

The 6-month completion timeline indicates the intensive nature of the pilgrimage program, requiring efficient coordination and management of resources to serve such a large number of participants. The contract represents a significant opportunity for Mach Conferences & Events to demonstrate its capabilities in managing large-scale religious and cultural events.

Strategic Significance

This major government contract positions the company as a key player in the government event management sector, particularly for religious and cultural programs. The substantial order value of ₹92 crores represents a significant revenue opportunity and showcases the company's ability to secure and execute large-scale projects.

The successful execution of this pilgrimage program could potentially open doors for similar government contracts and establish the company's credentials in managing complex, large-scale events involving substantial logistical coordination.

Mach Conferences & Events Limited has submitted a statutory auditor certificate detailing the complete utilization of funds raised through its Initial Public Offering (IPO) for the half-year ended September 30, 2025. The company has provided a comprehensive breakdown of how the IPO proceeds, totaling Rs 5,015.25 lakhs, have been allocated and utilized.

IPO Proceeds Allocation

The company's utilization of IPO funds is summarized in the following table:

Key Highlights

• The company has fully utilized the funds allocated for working capital requirements, amounting to Rs 3,326.00 lakhs.
• The entire amount of Rs 1,494.48 lakhs designated for issue-related expenses has been utilized.
• As of the reporting date, Rs 194.77 lakhs earmarked for general corporate expenses remain unutilized.
• The total utilization stands at Rs 4,820.48 lakhs, representing approximately 96.12% of the total IPO proceeds.

Compliance and Transparency

The submission of this utilization certificate aligns with Regulation 262 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This move demonstrates Mach Conferences & Events Limited's commitment to regulatory compliance and transparency in its financial operations.

Implications for Investors

The complete utilization of funds for working capital requirements and issue-related expenses suggests that the company has successfully deployed a significant portion of the IPO proceeds towards its operational needs and listing costs. This could potentially lead to improved business operations and efficiency.

The remaining unutilized amount for general corporate expenses provides the company with some financial flexibility for future corporate initiatives or unforeseen expenses.

Investors and stakeholders can view this report as a positive indication of the company's ability to execute its planned utilization of funds raised through the IPO. It also reflects the company's adherence to regulatory requirements and commitment to keeping investors informed about the use of their capital.

As Mach Conferences & Events Limited continues to utilize the remaining funds and execute its business strategies, stakeholders will likely keep a close eye on future financial reports to assess the impact of this capital deployment on the company's performance and growth trajectory.