08-May-2024
2 mins read
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Veritaas Advertising IPO is open for subscription starting Monday, May 13, 2024, and closing on Wednesday, May 15, 2024. The price band of this upcoming IPO is decided at Rs 109 to 114 per share. The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots with 2400 shares. The minimum investment required for retail category investors is Rs 1,36,800 (114 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,73,600 (114 x 2400 shares). Veritaas Advertising IPO is a book-built issue of Rs 8.48 crores. This upcoming IPO is a fresh issue of 7.44 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Thursday, May 16, 2024. Veritaas Advertising IPO will be listed on NSE SME, and the listing date is fixed on Tuesday, May 21, 2024. The book-running lead manager of Veritaas Advertising IPO is Horizon Management Private Limited. The registrar for this IPO is Mass Services Limited. The market maker of this issue is Horizon Financial Consultants.
About Veritaas Advertising Limited Company Profile
Veritaas Advertising was incorporated in July 2018, is a comprehensive advertising agency that provides advertising services across various platforms. Veritaas owns advertising spaces in West Bengal, Guwahati and Shillong. Moreover, the company also operates in Delhi, Mumbai and Pune. Veritaas Advertising offers a premium ecosystem and comprehensive advertising solutions platform for advertising media services. This includes brand strategy, Events, and outdoor media services, and various advertising modes like police booth hoardings, newspapers, brochures, etc. The company's services offering include – Creating brand presence and educating your customers, Increasing brand reach and visibility, creating high recall and goodwill for the brand. Engage and interact with your targeted customers and increase sales and boost conversion. The company's clients include well-known names such as TVS, Ultratech Cement, Star Cement, Greenply, ITC Limited, etc. As of January 2024, the company has a team of 71 employees.
Objectives of Veritaas Advertising IPO
The funds received from the initial public offer will be used to fund the capital expenditure toward setting up new Police Booths in West Bengal, Assam, Maharashtra and Delhi. Additionally, the fund will be utilised in Pole Kiosks for setting up a traffic signal point in Kolkata, Mumbai and Pune. Other than this general corporate purposes will also be met.
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Financials of Veritaas Advertising Limited (Amt in Rs Lakhs)
Veritaas Advertising posted a revenue of Rs 786.75 lakhs and net profit of 43.89 lakhs for the period ending on 31 March 2023. Previously, in the same period revenue was Rs 339.22 lakhs and PAT of Rs 12.58. The improvement in the financial performance is visible.
| Period Ended | 10-Feb-24 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 926.51 | 530.58 | 269 | 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 | 89.6 | 45.71 | 25.13 |
| Reserves and Surplus | 146.49 | 80.6 | 36.71 | 24.13 |
| Total Borrowing | 228.17 | 134.03 | 74.73 | - |
Other Important Details of Veritaas Advertising IPO
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | 21-May-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 109 to Rs 114 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 744,000 shares amounting to Rs 8.48 crore |
| Fresh Issue | 744,000 shares amounting to Rs 8.48 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 2,079,000 |
| Shareholding post issue | 2,823,000 |
| Market Maker portion | 37,200 shares |
Time-Table of Veritaas Advertising IPO
| 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 | 5 PM on May 15, 2024 |
Lot Size of Veritaas Advertising IPO
| Application | Lots | Shares | Amount |
| Retail - Minimum | 1 | 1,200 | Rs 136,800 |
| Retail - Maximum | 1 | 1,200 | Rs 136,800 |
| HNI - Minimum | 2 | 2,400 | Rs 273,600 |
IPO Reservation of Veritaas Advertising Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 49.75 percent |
| Retail Shares | Not less than 35.14 percent |
| NII Shares | Not less than 15.11 percent |
Key Performance Indicator of Veritaas Advertising Limited IPO
The market capitalization of Veritaas Advertising is Rs 32.18 Crore.
| Performance Indicator | Values |
| ROE | 44.24% |
| ROCE | 39.65% |
| D/E | 0.64 |
| RoNW | 44.23% |
| Price to BV | 6.69 |
| PAT Margin | 17.36 |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.11 | 6.66 |
| P/E | 54 | 17.1 |
Promoters of Veritaas Advertising Limited and Their Holdings
The promoters of Veritaas Advertising company are Debojyoti Banerjee, Sangita Debnath and Mina Debnath.
| Shareholding Pre Issue | 88.74 percent |
| Shareholding Post Issue | - |
Lead Manager(s) of Veritaas Advertising IPO
The lead manager for Veritaas Advertising IPO is Horizon Management Private Limited.
How do you apply for the Veritaas Advertising IPO?
Wait for the public issue to open for subscription, then click here to apply for the Veritaas Advertising Limited IPO with Bigul.
How do you check the allotment status of Veritaas Advertising IPO?
The registrar for Veritaas Advertising IPO is Mass Services Limited. To check your allotment status, please click here.
FAQs
- What is the Veritaas Advertising IPO?
Veritaas Advertising IPO is a book-built issue of Rs 8.48 crores. This upcoming IPO is a fresh issue of 7.44 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Thursday, May 16, 2024.
- Who are the lead managers for the Veritaas Advertising Limited IPO?
Horizon Management Private Limited is appointed as the lead manager for the IPO.
- What is the role of Mass Services Limited in this IPO?
Mass Services Limited is the registrar for Veritaas Advertising Limited, handling the IPO's administrative aspects.
- How can I apply for the Veritaas Advertising IPO?
The public subscription of this new IPO will open on May 13, 2024. Click here to initiate the application process.
- How will the net proceeds from the IPO be utilised?
The funds received from the initial public offer will be used to fund the capital expenditure toward setting up new Police Booths in West Bengal, Assam, Maharashtra and Delhi. Additionally, the fund will be utilised in Pole Kiosks to set up a traffic signal point in Kolkata, Mumbai, and Pune.
- How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Veritaas Advertising Limited IPO by visiting here. For further updates follow Bigul.
- What is the financial performance of Veritaas Advertising Limited?
Veritaas Advertising posted a revenue of Rs 786.75 lakhs and net profit of 43.89 lakhs for the period ending on 31 March 2023. Previously, in the same period revenue was Rs 339.22 lakhs and PAT of Rs 12.58. The improvement in the financial performance is visible.
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