Touchwood Group Becomes India’s First Event Company to be Enlisted in NSE
by Shantanu Jain Industry Watch | December 6, 2017 | News
Touchwood Group, one of India’s leading event management companies specialising in luxury weddings has become the first event agency in the country to be enlisted in the National Stock Exchange. The news comes off a highly positive development for the Indian events and experiential ecosystem which has so far been struggling to obtain an ‘Organised Industry’ status.
It is reported that the first issue of shares that will be available for investors from December 11-13, 2017 is of 10, 53,000 units, the issue price for the same being INR 40 per unit. The minimum allotment size being 3,000 shares.
Speaking exclusively to EVENTFAQS, an elated Vijay Arora - Director, Touchwood Group stated, “We wanted to get enlisted in the NSE in the year 2007 itself but that time the country was facing a huge depression and the market was down. Thanks to the new government and the schemes like ‘Emerge’ that they have brought in Small and Medium Enterprises (SME’s) have been encouraged to take this positive step towards a brighter and more transparent future. It has taken us around 6 months to get all the licenses and processes in place and with the fantastic response we have received so far, we are delighted.”
Deepak Choudhary - Director, Event Capital remarked, “This development marks a very exciting chapter for Indian events industry and is a tremendous achievement. Being enlisted in the NSE brings a lot of repute not just to an event agency but also for the entire industry. It creates a brand value, opens doors to corporate financing with opportunities like FDI, gives a correct valuation of your enterprise and is a major step towards becoming an organized sector of work. I encourage everyone to invest as this is a fantastic opportunity for those who want to understand the market.”
It is reported that the first issue of shares that will be available for investors from December 11-13, 2017 is of 10, 53,000 units, the issue price for the same being INR 40 per unit.