Veritaas Advertising Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | May 13, 2024 to May 15, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 109 to ₹ 114 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 7,44,000 shares (aggregating up to ₹ 8.48 Cr) |
| Fresh Issue | 7,44,000 shares (aggregating up to ₹ 8.48 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 20,79,000 |
| Share holding post issue | 28,23,000 |
| Market Maker portion | 37,200 shares Horizon Financial Consultants |
About Veritaas Advertising Limited IPO
Veritaas Advertising Ltd. (VAL) is an integrated advertising agency offering 360-degree services across multiple platforms. VAL operates/advertises in police booths and outdoor hoardings, which reduces its dependence on third parties and enables it in offering integrated services. The Company's advertising services enable its clients to monetize their marketing collateral and generate revenues and act as a differentiator compared to other players in respective markets. With content at its heart, the Company builds creative stories around brands to enhance their ROI. Working across various offline platforms, the Company's expertise includes strategizing, building compelling conversations to increase a brand's influence and reach the desired target audience.
It has created and managed successful marketing campaigns for various brands and worked with large budgets to drive the best reach and engagement for clients. Veritaas Advertising IPO is a book built issue of Rs 8.48 crores. The issue is entirely a fresh issue of 7.44 lakh shares. Veritaas Advertising IPO price band is set at ₹109 to ₹114 per share. The minimum lot size for an application is 1200 Shares. Horizon Management Private Limited is the book running lead manager of the Veritaas Advertising IPO, while Mas Services Limited is the registrar for the issue. The market maker for Veritaas Advertising IPO is Horizon Financial Consultants.
Objectives of Veritaas Advertising IPO
The Company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 1. Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra and Delhi.
- 2. Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point displays in Kolkata, Mumbai and Pune.
- 3. General Corporate Purposes.
Veritaas Advertising IPO Review
The company is operating in a highly competitive and fragmented segment. It marked boosted top and bottom lines from FY23 onwards. Based on FY24 super earnings, the issue appears aggressively priced. Tiny paid-up equity capital post-IPO indicates a longer gestation period for migration to the main board. Investors may park moderate funds for the medium term.
Veritaas Advertising Limited IPO Financial Information
Latest Revenue
786.75
₹ Crore
Profit After Tax
156.79
₹ Crore
Net Worth
354.39
₹ Crore
Total Borrowing
228.17
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 10 Feb 2024 | 926.51 | 786.75 | 156.79 | 354.39 | 228.17 | ||||
| 31 Mar 2023 | 530.58 | 786.75 | 43.89 | 89.60 | 134.03 | ||||
| 31 Mar 2022 | 269.00 | 339.22 | 12.58 | 45.71 | 74.73 | ||||
| 31 Mar 2021 | 152.32 | 234.21 | 19.72 | 25.13 | — | ||||
| Amount in ₹ Crore | |||||||||
Veritaas Advertising Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 44.24% |
| ROCE | 39.65% |
| Debt/Equity | 0.64 |
| RoNW | 44.23% |
| P/BV | 6.69 |
| PAT Margin (%) | 17.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.11 | 6.66 |
| P/E (x) | 54 | 17.1 |
Frequently Asked Questions
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Competitive Strengths
Veritaas Advertising Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹136,800 |
| Retail (Max) | 1 | 1200 | ₹136,800 |
| HNI (Min) | 2 | 2,400 | ₹273,600 |