Simca Advertising IPO closes with over 76 times subscription; check GMP, allotment and listing dates

Out of home advertising solutions provider Simca Advertising continued to attract strong demand for its IPO for third consecutive session despite sharp weakness in the equity markets. Demand across categories of investors lifted subscription over 76 times till May 12, the final day of bidding, while the Nifty 50 shed 4.5 percent in last four days.

The company approached capital markets to raise up to Rs 58.04 crore via initial public offering (IPO) of 31.71 lakh shares. The price band for the offer was Rs 174-183 per share.

The maiden public issue has received bids for 20.82 crore equity shares during May 8-12, which were 76.23 times the offer size of 27.32 lakh shares. These bids were offered through 83,231 applications.

The highest demand for the offer has been seen from non-institutional investors who bid 186.1 times their allotted quota, while the parts set aside for retail investors and qualified institutional buyers were subscribed 71 times, and 46.2 times, respectively.

The IPO share allotment will be finalised by May 13, while the trading in Simca Advertising shares will commence on the NSE Emerge effective May 15.

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In the grey market, Simca Advertising IPO shares traded at around 15-20 percent premium, the market observers said.

The company that provides advertising services, with a focus on out of home (OOH) media in Mumbai and Maharashtra will utilise Rs 12.7 crore of IPO proceeds for the purchase and installation of LED (Light-emitting diode) screens, and Rs 5 crore for strategic collaboration with Capital World Media Services Private Limited for monetization of 20 LED digital advertising screens.

Further, Rs 23.5 crore will be used for its incremental working capital requirements, and the remainder amount for general corporate purposes.

The financial numbers remained healthy in the recent past years with Simca reporting profit at Rs 10.7 crore and revenue at Rs 77.8 crore for nine months period ended December 2025. Further, profit in the fiscal year ended March 2025 grew by 72.7 percent to Rs 9.97 crore and revenue increased by 52 percent to Rs 74.9 crore compared to previous year.