Veritaas Advertising IPO will open for subscription from 13 May 2024. The company aims for an issue size of ₹8.48 Cr through this IPO.
Company Overview
| Full name | Veritaas Advertising Limited |
| Sector | Media & Entertainment |
| Industry | Advertising & Media |
| Company Website | https://www.veritaasadvertising.com/ |
About Company
Founded in 2018, Veritaas Advertising is an integrated advertising agency providing 360-degree services across various platforms. The company offers a high-end ecosystem and comprehensive advertising solutions platform for media services, which includes brand strategy, events, and outdoor (OOH) media services. These cover various advertising methods such as police booth hoardings, newspaper insertions, brochures, and outdoor hoardings, among others.
The company owns advertising spaces in West Bengal, Guwahati, and Shillong, making it one of the select media-owning marketing and advertising agencies. Veritaas also operates in Delhi, Mumbai, and Pune. Veritaas Advertising assists customers in various ways: (i) establishing brand presence and educating customers, (ii) expanding brand reach and visibility, (iii) enhancing brand recall and goodwill, (iv) engaging and interacting with targeted customers, and (v) boosting sales and conversions.
Veritaas Advertising serves a notable clientele, including brands such as Honda, TVS, Ultratech Cement, Star Cement, MP Birla Group, Greenply, ITC Limited, Raipur Electronics, Mitsubishi Electric, ILS Hospitals, ICA, and Delhi Public School, among others. As of 31 January 2024, the company employs 71 people on its payroll.
The Objectives of the Issue
- 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 Timetable
| IPO Opening date | 13 May 2024 |
| IPO Closing | 15 May 2024 |
| Basis of Allotment | 16 May 2024 |
| Initiation Refund | 17 May 2024 |
| Credit to Demat Account | 17 May 2024 |
| Listing Date | 21 May 2024 |
Veritaas Advertising IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹8.48 Cr – 744,000 shares |
| Fresh Issue | ₹8.48 Cr – 744,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹109 to ₹114 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 37,200 shares |
| Shareholding pre-issue | 2,079,000 |
| Shareholding post-issue | 2,823,000 |
| Listing Exchange | NSE SME |
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 Offer Documents
- Veritaas Advertising IPO DRHP
- Veritaas Advertising IPO RHP
- Anchor Investors in Veritaas Advertising IPO
Veritaas Advertising IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 174,000 (23.39%) |
| Market Maker Shares Offered | 37,200 (5.00%) |
| QIB Shares Offered | 177,600 (23.87%) |
| NII (HNI) Shares Offered | 106,800 (14.35%) |
| Retail Shares Offered | 248,400 (33.39%) |
| Total Shares Offered | 744,000 (100%) |
Veritaas Advertising Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 1 Apr 2023 – 10 Feb 2024 | |
| Revenue | 230.41 | 336.98 | 774.84 | 903.26 |
| Expenses | 207.86 | 322.42 | 719.73 | 693.45 |
| Net income | 19.72 | 12.58 | 43.89 | 156.79 |
Veritaas Advertising Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.02 | 0.65 | 2.27 |
| PE ratio | – | – | 48.02 – 50.22 |
| RONW (%) | 78.48 | 27.52 | 48.99 |
| NAV | 251.36 | 50.78 | 99.54 |
| ROCE (%) | 104.88 | 15.86 | 36.07 |
| EBITDA (%) | 11.35 | 7.00 | 13.34 |
| Debt/Equity | – | 1.64 | 1.50 |
Company Promoters
- Debojyoti Banerjee
- Sangita Debnath
- Mina Debnath.
Promoter Holding
| Pre Issue Share Holding | 88.74% |
| Post Issue Share Holding | 88.74% |
Veritaas Advertising Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 20 May 2024 | 125 | – | 1,18,000 |
| 18 May 2024 | 105 | – | 98,700 |
| 17 May 2024 | 105 | – | 98,700 |
| 16 May 2024 | 100 | – | 95,000 |
| 15 May 2024 | 100 | – | 95,000 |
| 14 May 2024 | 100 | – | 90,000 |
| 13 May 2024 | 100 | – | 90,000 |
| 11 May 2024 | 85 | – | 86,500 |
| 10 May 2024 | 75 | – | 65,000 |
| 9 May 2024 | 80 | – | 70,000 |
| 8 May 2024 | 60 | – | 55,000 |
Veritaas Advertising IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,77,600 | 1,06,800 | 2,48,400 | 5,32,800 |
| 15 May 2024 | 102.41 | 629.91 | 989.44 | 621.69 |
| 14 May 2024 | 1.10 | 94.94 | 209.58 | 117.11 |
| 13 May 2024 | 0.00 | 17.45 | 41.68 | 22.93 |
Veritaas Advertising IPO Allotment Status
Veritaas Advertising IPO allotment status is now available on Mas Services’ website. Click on Mas Services IPO weblink to get allotment status.
Veritaas Advertising IPO Listing Details
| Listing Date | 21 May 2024 |
| BSE Scrip Code | – |
| NSE Symbol | VERITAAS |
| ISIN | INE0SRI01019 |
| Final Issue Price | ₹114 per share |
Veritaas Advertising IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹114.00 |
| Open | ₹275.00 |
| Low | ₹261.25 |
| High | ₹288.75 |
| Last Trade | ₹261.25 |
Veritaas Advertising IPO Lead Manager(s)
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road, Main Building, 2nd Floor,
Kolkata- 700 001, West Bengal, India
Phone: +91 33 4600 0607
Email: smeipo@horizon.net.co
Website: www.horizonmanagement.in
Veritaas Advertising Registrar
MAS SERVICES LIMITED
T-34, 2nd Floor, Okhla Industrial Area,
Phase-II New Delhi- 110 020
Phone: +91 112 638 7281/83
Email: ipo@masserv.com
Website: www.masserv.com
Veritaas Advertising Contact Details
VERITAAS ADVERTISING LIMITED
38/2A, Gariahat South Road, Dhakuria,
Rash Behari Avenue, Kolkata – 700 029, West Bengal
Phone: +91 334 044 6683
E-mail: info@veritaasadvertising.com
Website: www.veritaasadvertising.com
Veritaas Advertising IPO FAQs
What is the Veritaas Advertising offer size?
Veritaas Advertising’s offer size is ₹ 8.11 – ₹8.48 crores.
What is the Veritaas Advertising offer price band?
Veritaas Advertising’s public offer price is ₹ 109 – ₹114 per share.
What is the lot size of the Veritaas IPO?
Veritaas Advertising’s offer lot size is 1,200 shares.
What is Veritaas Advertising Offer GMP today?
Veritaas Advertising IPO GMP today is ₹ 125 per share.
What is the Veritaas Advertising kostak rate today?
Veritaas Advertising kostak rate today is ₹ NA per application.
What is Veritaas Advertising Subject to the Sauda rate today?
Veritaas Advertising is Subject to the Sauda rate today is ₹ 1,18,000 per application.
Final thoughts
Veritaas Advertising IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
