VERITAAS ADVERTISING LIMITED

13 May 2024 - 15 May 2024 Individual Category SME NSE

Min Investment

₹261600

Price Band

₹109-₹114

Issue Size

5.7 lakhs
Equity Shares

Lot Size

1200 (per lot)

IPO Dates
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13 May 2024

Open Date

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15 May 2024

Close Date

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16 May 2024

Allotment Date

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21 May 2024

Listing Date

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.

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About Veritaas Advertising Limited

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.

Founded

2018

Managing Director

Debojyoti Banerjee and Mina Debnath

Parent Organization

IPO Objectives

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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IPO Allotment

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