Veritaas Advertising IPO to open on May 13; price band set at ₹109-114 apiece
₹109 to ₹114 per share. The IPO lot size for Veritaas Advertising is 1,200 shares. The equity share allocation is as follows: Market Maker is allotted up to 37,200 equity shares; Non-Institutional Investors (NII) is allotted up to 1,06,800 equity shares; Retail Individual Investors (RII) is allotted up to 2,48,400 equity shares; and QIB Anchor Portion is allotted up to 1,74,000 equity shares.
The company provides 360-degree services across several channels as an integrated advertising agency. Being one of the few media companies that owns marketing and advertising firms, the company has advertisement spaces in West Bengal, Guwahati, and Shillong. The company is also active in Pune, Mumbai, and Delhi.
The business operates and places advertisements on outdoor hoardings and police booths, which lessens their reliance on other parties and allows them to provide integrated services. The company's listed peers are Crayons Advertising Ltd (with a P/E of 24.74), and Maagh Advertising & Marketing Services Ltd (with a P/E of 11.41). The company's revenue was ₹786.75 lakhs, its EBITDA was ₹104.96 lakhs, and its PAT was ₹43.89 lakhs in FY23.
The company generated revenue of ₹903.97 lakhs, EBITDA of ₹258.68 lakhs, and PAT of ₹156.79 lakhs up till February 10th, 24. Also Read: Winsol Engineers IPO allotment likely to be out today; Latest GMP, steps to check status online Veritaas Advertising IPO, which is worth about ₹8.48 crore, consists of a fresh issue of 744,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
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