Veritaas Advertising Limited IPO Detail
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.
Company Promoters
Debojyoti Banerjee, Sangita Debnath and Mina Debnath.IPO Details
| IPO Opening Date | May 13, 2024 |
| IPO Closing Date | May 15, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹109 - 114 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹8.48 Cr |
| Fresh Issue | ₹8.48 Cr |
| Offer for Sale | - |
| Retail Portion | 35.14% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 17.62x | 42.75x | 23.46x |
| Day 2 | 1.10x | 0.00x | 0.00x | 95.17x | 214.04x | 119.23x |
| Day 3 | 102.41x | 0.00x | 0.00x | 629.56x | 989.44x | 621.62x |
IPO Tentative Timetable
The Veritaas Advertising Limited IPO open date is May 13, 2024, and the close date is May 15, 2024. The issue may list on May 21, 2024.
| IPO Open Date | May 13, 2024 |
| IPO Close Date | May 15, 2024 |
| Basis of Allotment Date | May 16, 2024 |
| Initiation of Refunds | May 17, 2024 |
| Credit of Shares to Demat Account | May 17, 2024 |
| IPO Listing Date | May 21, 2024 |
IPO Lot Size
The Veritaas Advertising Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹136800).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹136800 |
| Maximum | 1 | 1200 | ₹136800 |
IPO Promoter Holding
| Pre Issue Share Holding | 88.74% |
| Post Issue Share Holding | 88.74% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 152.32 | 234.21 | 19.72 |
| 31-Mar-22 | 269.00 | 339.22 | 12.58 |
| 31-Mar-23 | 530.58 | 786.75 | 43.89 |
| 10-Feb-24 | 926.51 | 786.75 | 156.79 |
Objects of the Issue:
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 Limited IPO Registrar:
MAS Services Limited
Veritaas Advertising Limited IPO Lead Manager(s):
Horizon Management Private Limited
Company Contact Information:
Veritaas Advertising Limited
38/2A, Gariahat South Road, Dhakuria
Rash Behari Avenue
Kolkata - 700 029
