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 opens for subscription on May 13, 2024 and closes on May 15, 2024. The allotment for the Veritaas Advertising IPO is expected to be finalized on Thursday, May 16, 2024. Veritaas Advertising IPO will list on NSE SME with tentative listing date fixed as Tuesday, May 21, 2024.
Veritaas Advertising IPO price band is set at ₹109 to ₹114 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹136,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹273,600.
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.
Refer to Veritaas Advertising IPO RHP for detailed information.
Veritaas Advertising IPO Details
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹114 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Fresh Issue | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,079,000 |
| Share holding post issue | 2,823,000 |
| Market Maker portion | 37,200 shares Horizon Financial Consultants |
Veritaas Advertising IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 49.75% |
| Retail Shares Offered | Not less than 35.14% |
| NII (HNI) Shares Offered | Not less than 15.11% |
Veritaas Advertising IPO Anchor Investors Details
Veritaas Advertising IPO raises Rs 1.98 crore from anchor investors. Veritaas Advertising IPO Anchor bid date is May 10, 2024.
| Bid Date | May 10, 2024 |
| Shares Offered | 174,000 |
| Anchor Portion Size (In Cr.) | 1.98 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 14, 2024 |
Veritaas Advertising IPO Timeline (Tentative Schedule)
Veritaas Advertising IPO opens on May 13, 2024, and closes on May 15, 2024.
| 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 Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹136,800 |
| Retail (Max) | 1 | 1200 | ₹136,800 |
| HNI (Min) | 2 | 2,400 | ₹273,600 |
| Lot Size Calculator | |||
Veritaas Advertising IPO Promoter Holding
The promoters of the Company are Debojyoti Banerjee, Sangita Debnath and Mina Debnath.
| Share Holding Pre Issue | 88.74% |
| Share Holding Post Issue |
88.74% |
About Veritaas Advertising Limited
Incorporated on July 31, 2018, Veritas Advertising Limited is a comprehensive advertising agency that provides 360-degree services across various platforms.
The company owns advertising spaces in West Bengal, Guwahati, and Shillong, making it one of the few media-owning marketing and advertising agencies. The company also operate in Delhi, Mumbai, and Pune.
The company offers a premium ecosystem and comprehensive advertising solutions platform for advertising media services. This includes Brand Strategy, Events, and Outdoor (OOH) Media services, which cover various advertisement modes like police booth hoardings, newspaper insertions, brochures, and display of outdoor hoardings, among others.
The company’s service offering includes
- Create brand presence & educate your customers;
- Increase brand reach & visibility;
- Create high recall and goodwill for the brand;
- Engage & interact with your targeted customers; and
- Increase sales & boost conversions.
The clientele of the company includes some well-known names such as TVS, Honda, Ultratech Cement, Star Cement, Greenply, ITC Limited, Raipur Electronics, Mitsubishi Electrics, ILS Hospitals, ICA, Delhi Public School so on and so forth.
As of January 31, 2024, the Company has 71 employees on its payroll.
Veritaas Advertising Limited Financial Information (Restated)
| Period Ended | 10 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 926.51 | 530.58 | 269.00 | 152.32 |
| Revenue | 786.75 | 786.75 | 339.22 | 234.21 |
| Profit After Tax | 156.79 | 43.89 | 12.58 | 19.72 |
| Net Worth | 354.39 | 89.60 | 45.71 | 25.13 |
| Reserves and Surplus | 146.49 | 80.60 | 36.71 | 24.13 |
| Total Borrowing | 228.17 | 134.03 | 74.73 | |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Veritaas Advertising IPO is Rs 32.18 Cr.
KPI as of February 10, 2024.
| KPI | Values |
|---|---|
| ROE | 44.24% |
| ROCE | 39.65% |
| Debt/Equity | 0.64 |
| RoNW | 44.23% |
| P/BV | 6.69 |
| PAT Margin (%) | 17.36 |
Check Veritaas Advertising IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.11 | 6.66 |
| P/E (x) | 54 | 17.1 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of February 10, 2024 that is available in RHP.
Objects of the Issue (Veritaas Advertising IPO Objectives)
The 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 displays in Kolkata, Mumbai and Pune;
- General Corporate Purposes
Veritaas Advertising IPO Prospectus
Veritaas Advertising Limited Contact Details
Veritaas Advertising Limited
38/2A, Gariahat South Road, Dhakuria
Rash Behari Avenue
Kolkata – 700 029,
Phone: +91 33 4044 6683
Email: info@veritaasadvertising.com
Website: http://www.veritaasadvertising.com/
Veritaas Advertising IPO Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp