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Veritaas Advertising IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Veritaas Advertising IPO, valued at Rs 8.48 crores, consists entirely of a fresh issue comprising 7.44 lakh shares. Opening for subscription on May 13, 2024, and closing on May 15, 2024, the IPO is anticipated to conclude its allotment process by Thursday, May 16, 2024.
Scheduled to list on NSE SME by Tuesday, May 21, 2024, Veritaas Advertising offers shares within a price band of ₹109 to ₹114 per share. The minimum lot size for application stands at 1200 shares, requiring a minimum investment of ₹136,800 for retail investors and 2 lots (2,400 shares) amounting to ₹273,600 for HNIs.
Horizon Management Private Limited serves as the book running lead manager, while Mas Services Limited acts as the registrar for the issue. Horizon Financial Consultants assumes the role of the market maker for the Veritaas Advertising IPO.
Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra and Delhi.
- Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point display in Kolkata, Mumbai and Pune
- General Corporate Purposes.
The company believes that police booth advertisements draw significant attention of the target audience, on account of widespread presence in diverse areas of a city. Owing to the efficacy of this advertisement segment, they have significantly invested in advertisements through police booths at towns /cities of West Bengal, Guwahati and Shillong, thereby making it one of their main business verticals.
The company is proposing to invest in Pole Kiosks by setting of traffic signal point display. Pole Kiosks is the perfect way to change branding game and increase recall. They are expressive, and engaging and create a long-lasting impression on targeted customers. The accurately designed pole kiosk can fetch more customers than any other type of targeted marketing activity.
Veritaas Advertising Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|
Veritaas Advertising IPO Details
| Market Capitalization | |
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | May 21, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹114 per share |
| Issue Price | ₹109 to ₹114 per share |
| Employee Discount | |
| Lot Size | 1200 Shares |
| Total Issue Size | ?8.48 Cr |
| Fresh Issue | 744,000 shares (aggregating up to ?8.48 Cr) |
| Offer for Sale | Nil |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,079,000 |
| Share holding post issue | 2,823,000 |
| Rating |
Veritaas Advertising IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Veritaas Advertising IPO Timeline (Tentative Schedule)
| IPO Open Date | Monday, May 13, 2024 |
| IPO Close Date | Wednesday, May 15, 2024 |
| Basis of Allotment | Thursday, May 16, 2024 |
| Initiation of Refunds | Friday, May 17, 2024 |
| Credit of Shares to Demat | Friday, May 17, 2024 |
| Listing Date | Tuesday, May 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 15, 2024 |
Veritaas Advertising IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| Anchor Investor Shares Offered | 174,000 (23.39%) | |
| Market Maker Shares Offered | 37,200 (5.00%) | N/A |
| QIB Shares Offered | 177,600 (23.87%) | N/A |
| NII (HNI) Shares Offered | 106,800 (14.35%) | N/A |
| Retail Shares Offered | 248,400 (33.39%) | N/A |
| Total Shares Offered | 744,000 (100%) | N/A |
Veritaas Advertising IPO Promoter Holding
| Share Holding Pre Issue | 88.74% |
| Share Holding Post Issue | 65.36% |
Veritaas Advertising IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹136,800 |
| Retail (Max) | 1 | 1200 | ₹136,800 |
| HNI (Min) | 2 | 2,400 | ₹273,600 |
Veritaas Advertising IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|
About Veritaas Advertising Limited
Veritaas Advertising Limited is an integrated advertising agency offering 360-degree services across multiple platforms. They own advertisement spaces in West Bengal, Guwahati and Shillong also operating in Delhi, Mumbai and Pune. The company operate/advertise in police booths and outdoor hoardings, which reduces dependence on third parties enabling them to offer integrated services. The company offers marketing and advertising services through the following platforms:
- OOH
- Transit Media
- Events
The company builds creative stories around brands to enhance their ROI. Advertising services allows clients to monetize their marketing collaterals and generate revenues and acts as a differentiator.
They provide high-end ecosystem and end-to-end advertising solutions platform for advertising media services consisting of Brand Strategy, Events, Outdoor (OOH) Media services which covers advertisement modes such as police booth hoardings, Newspapers insertions, Brochures, and display of Outdoor Hoardings, etc.
Some of the clients are:
Honda, TVS, P.C.CHANDRA, MITSUBISHI ELECTRIC, RAIPUR ELECTRONICS, Ultratech Cement, GreenPly, etc.
MARKETING AND ADVERTISING:
- RETAIL BRANDING
- EVENT MANAGEMENT
- TRANSIT MEDIA
- OOH MEDIA
Veritaas Advertising Limited Financial Information ()
Amount in (Rs. Crore)
| Period Ended | 10th Feb 24 | 31st Mar 23 | 31st Mar 22 | 31st Mar 21 |
|---|---|---|---|---|
| Reserve of Surplus | 1.46 | 0.81 | 0.37 | 0.24 |
| Total Assets | 9.27 | 5.31 | 2.69 | 1.52 |
| Total Borrowings | 2.28 | 1.34 | 0.75 | 0.00 |
| Fixed Assets | 2.97 | 0.69 | 0.08 | 0.02 |
| Cash | 0.22 | 0.34 | 0.36 | 0.06 |
| Cash flow from operating activities | ||||
| Cash flows from investing activities | ||||
| Cash flow from financing activities | ||||
| Net Borrowing | 2.07 | 1.00 | 0.39 | -0.06 |
| Revenue | 9.03 | 7.75 | 3.37 | 2.30 |
| EBITDA | 2.59 | 1.05 | 0.24 | 0.27 |
| PAT | 1.57 | 0.44 | 0.13 | 0.20 |
| PAT Margin | ||||
| EPS | 7.54 | 48.77 | 13.98 | 197.20 |
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 2.11 |
| EPS Post IPO (Rs.) | 6.06 |
| Adjusted 12M EPS Post IPO (Rs.) | |
| P/E Pre IPO | 54.00 |
| P/E Post IPO | 18.82 |
| Adjusted 12M P/E Post IPO | |
| ROE | 48.99% |
| ROCE | 36.06% |
| P/BV | 6.69 |
| Debt/Equity | 0.64 |
| RoNW | 48.99% |
| EBITDA Margin | |
| PAT Margin |
Veritaas Advertising Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Veritaas Advertising Limited | 2.11 | 54 | 48.99% | 36.06% | 6.69 | 0.64 | 48.99% |
| Crayons Advertising | - | 21.7 | 33.2% | 38.4% | 3.59 | 0.05 | 38.4% |
| Maagh Advertising & Marketing Services Ltd | 0.11 | 219 | 5.56% | 7.87% | 13.3 | 0.00 | 7.87% |
Veritaas Advertising Limited Contact Details
VERITAAS ADVERTISING LIMITED
38/2A, Gariahat South Road, Dhakuria, Rash Behari Avenue, Kolkata - 700 029, West Bengal, India.
Tel: +91 33 4044 6683
Email: info@veritaasadvertising.com
WEBSITE: www.veritaasadvertising.com
Veritaas Advertising IPO Registrar and Lead Manager(s)
MAS Services Limited
T-34, 2nd Floor, Okhla Industrial Area, Phase-II New Delhi- 110 020, Delhi, India.
Telephone: +91 112 638 7281/83, 114 132 0335
E-mail: ipo@masserv.com
Website: https://www.masserv.com/
Veritaas Advertising IPO Review
Veritaas Advertising Ltd. (VAL) is a full-service advertising agency with its own ad spaces in West Bengal, Guwahati, and Shillong, alongside operations in Delhi, Mumbai, and Pune. Offering diverse services across platforms, it minimizes reliance on third parties by advertising in police booths and outdoor hoardings. Despite a promising creative portfolio, its recent financials show fluctuating performance, with an average EPS of Rs. 1.52 and RoNW of 46.75%. The issue is priced at a high P/BV of 6.69 based on NAV of Rs. 17.05 as of February 10, 2024. While FY24 shows significant growth, aggressive pricing, competition, and absence of dividends warrant cautious investment with a moderate allocation for medium-term gains.
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