Hi Shwetha,
Do you mean that we get value from Description field then display it in event portal?

It seems that you had made customization on page of your event portal to display more fields information.
If so, fields data types are fixed in Dynamics 365, there are only single line of text and multiple lines of text.
There are methods to achieve your requirement, you could take them as reference:
1. Create a web resource with rich text editor, and use custom javascript to get formatted HTML code and use it to update Description field,
then render content with innerHTML property directly.
2. Just add custom CSS rules to the text element on corresponding page on you had got text from the field.
I would recommend mehod 2 as solution.
Regards,
Clofly