Veritaas Advertising IPO to open on May 13; price band set at ₹109-114 apiece

The equity stock allocation is arsenic 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 institution provides 360-degree services crossed respective channels arsenic an integrated advertizing agency. Being 1 of the fewer media companies that owns selling and advertizing firms, the institution has advertisement spaces successful West Bengal, Guwahati, and Shillong. The institution is besides progressive successful Pune, Mumbai, and Delhi. The concern operates and places advertisements connected outdoor hoardings and constabulary booths, which lessens their reliance connected different parties and allows them to supply 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 gross was ₹786.75 lakhs, its EBITDA was ₹104.96 lakhs, and its PAT was ₹43.89 lakhs successful FY23. The institution generated gross of ₹903.97 lakhs, EBITDA of ₹258.68 lakhs, and PAT of ₹156.79 lakhs up till February 10th, 24.

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Veritaas Advertising IPO details

Veritaas Advertising IPO, which is worthy astir ₹8.48 crore, consists of a caller contented of 744,000 equity shares with a look worth of ₹10. There is nary offer-for-sale component.

The nett proceeds of the contented volition beryllium utilized by the institution for the pursuing purposes: financing the superior expenditure for the constitution of caller constabulary booths successful West Bengal, Assam, Maharashtra, and Delhi; financing the superior expenditure for the constitution of postulation awesome constituent displays successful Kolkata, Mumbai, and Pune done Pole Kiosks; and financing wide firm purposes.

The Veritaas Advertising IPO's publication moving pb manager is Horizon Management Private Limited, portion the issue's registrar is Mas Services Limited. The Veritaas Advertising IPO is being market-made by Horizon Financial Consultants.

Tentatively, Veritaas Advertising IPO ground of allotment of shares volition beryllium finalised connected Thursday, May 16 and the institution volition initiate refunds connected Friday, May 17, portion the shares volition beryllium credited to the demat relationship of allottees connected Friday. Veritaas Advertising IPO shares are apt to beryllium listed connected NSE SME connected Tuesday, May 21.

According to Manav Goenka, President of Operations astatine Horizon Management Private Limited, Veritas Advertising Limited has established a beardown beingness successful the advertizing sector. Their imaginable for enlargement is demonstrated by their strategical absorption connected utilising outdoor hoardings and constabulary booth ads successful summation to their extended work offering.

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Veritaas Advertising IPO GMP today

Veritaas Advertising IPO GMP contiguous oregon grey marketplace premium is +55. This indicates Veritaas Advertising stock terms were trading astatine a premium of ₹55 successful the grey market, according to investorgain.com.

Considering the precocious extremity of the IPO terms set and the existent premium successful the grey market, the estimated listing terms of Veritaas Advertising stock terms was indicated astatine ₹169 apiece, which is 48.25% higher than the IPO terms of ₹114.

'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.

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Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 10 May 2024, 03:33 PM IST