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20 Nov 2024
Veritaas Advertising Limited IPO
Veritaas Advertising Ltd. (VAL) is an integrated advertising agency offering 360-degree services across multiple platforms. VAL operates/advertises in police booths and outdoor hoardings, which reduces its dependence on third parties and enables it in offering integrated services. The Company's advertising services enable its clients to monetize their marketing collateral and generate revenues and act as a differentiator compared to other players in respective markets. With content at its heart, the Company builds creative stories around brands to enhance their ROI. Working across various offline platforms, the Company's expertise includes strategizing, building compelling conversations to increase a brand's influence and reach the desired target audience.
It has created and managed successful marketing campaigns for various brands and worked with large budgets to drive the best reach and engagement for clients. Veritaas Advertising IPO is a book built issue of Rs 8.48 crores. The issue is entirely a fresh issue of 7.44 lakh shares. Veritaas Advertising IPO price band is set at ₹109 to ₹114 per share. The minimum lot size for an application is 1200 Shares. Horizon Management Private Limited is the book running lead manager of the Veritaas Advertising IPO, while Mas Services Limited is the registrar for the issue. The market maker for Veritaas Advertising IPO is Horizon Financial Consultants.
Veritaas Advertising IPO Overview
| Detail | Description |
|---|---|
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹114 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Fresh Issue | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,079,000 |
| Share holding post issue | 2,823,000 |
| Market Maker portion | 37,200 shares Horizon Financial Consultants |
Veritaas Advertising IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 confirmation | 5 PM on May 15, 2024 |
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 IPO Reservation
| 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 IPO Promoter Holding
| Share Holding Pre Issue | 88.74% |
| Share Holding Post Issue | 88.74% |
Veritaas Advertising IPO Anchor Investors Details
| Bid Date | May 10, 2024 |
| Shares Offered | 174,000 |
| Anchor Portion Size (In Cr.) | 1.98 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 14, 2024 |
Company & Financials
Incorporated on July 31, 2018, Veritas Advertising Limited is a comprehensive advertising agency that provides 360-degree services across various platforms. The company owns advertising spaces in West Bengal, Guwahati and Shillong, making it one of the few media-owning marketing and advertising agencies. The company also operates in Delhi, Mumbai and Pune. The company offers a premium ecosystem and comprehensive advertising solutions platform for advertising media services. This includes Brand Strategy, Events and Outdoor (OOH) Media services, which cover various advertisement modes like police booth hoardings, newspaper insertions, brochures, and display of outdoor hoardings, among others.
The company's service offering includes
- 1. Create brand presence & educate your customers
- 2. Increase brand reach & visibility
- 3. Create high recall and goodwill for the brand
- 4. Engage & interact with your targeted customers
- 5. Increase sales & boost conversions
The clientele of the company includes some well-known names such as TVS, Honda, Ultratech Cement, Star Cement, Greenply, ITC Limited, Raipur Electronics, Mitsubishi Electrics, ILS Hospitals, ICA, Delhi Public School and so forth.
Veritaas Advertising Limited Financial Information
| Period Ended | 10 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 926.51 | 530.58 | 269.00 | 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 | 89.60 | 45.71 | 25.13 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 146.49 | 80.60 | 36.71 | 24.13 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 228.17 | 134.03 | 74.73 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 44.24% |
| ROCE | 39.65% |
| Debt/Equity | 0.64 |
| RoNW | 44.23% |
| P/BV | 6.69 |
| PAT Margin (%) | 17.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.11 | 6.66 |
| P/E (x) | 54 | 17.1 |
Objectives of Veritaas Advertising IPO
The Company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 1. Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra and Delhi.
- 2. Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point displays in Kolkata, Mumbai and Pune.
- 3. General Corporate Purposes.
Veritaas Advertising IPO Review
The company is operating in a highly competitive and fragmented segment. It marked boosted top and bottom lines from FY23 onwards. Based on FY24 super earnings, the issue appears aggressively priced. Tiny paid-up equity capital post-IPO indicates a longer gestation period for migration to the main board. Investors may park moderate funds for the medium term.
FAQs for Veritaas Advertising IPO
-
What Is The Size Of The Veritaas Advertising IPO?
The offer size of Veritaas Advertising Limited is INR 8.48 crores, consisting of a fresh issue of 7,44,000 shares. The company seeks funds to finance police booths, traffic signal displays, and general corporate needs.
-
What Is The Price Band Of The Veritaas Advertising IPO?
The price band of the issue is INR 109-114 per share.
-
What are the open and close dates for Veritaas Advertising Ltd IPO?
Veritaas Advertising Ltd IPO Opens for subscription from 13-May-2024 to 15-May-2024.
-
What is the lot size and minimum order quantity of the Veritaas Advertising Ltd IPO?
The lot size of Veritaas Advertising Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136800 and ₹136800 respectively.
-
What are the allotment dates for the Veritaas Advertising Ltd IPO?
Allotment date for Veritaas Advertising Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 17-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.
Anchor Investor Link:
Anchor Investor Link of Veritaas Advertising Limited IPO
-
What Is The Size Of The Veritaas Advertising IPO?
The offer size of Veritaas Advertising Limited is INR 8.48 crores, consisting of a fresh issue of 7,44,000 shares. The company seeks funds to finance police booths, traffic signal displays, and general corporate needs.
-
What Is The Price Band Of The Veritaas Advertising IPO?
The price band of the issue is INR 109-114 per share.
-
What are the open and close dates for Veritaas Advertising Ltd IPO?
Veritaas Advertising Ltd IPO Opens for subscription from 13-May-2024 to 15-May-2024.
-
What is the lot size and minimum order quantity of the Veritaas Advertising Ltd IPO?
The lot size of Veritaas Advertising Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136800 and ₹136800 respectively.
-
What are the allotment dates for the Veritaas Advertising Ltd IPO?
Allotment date for Veritaas Advertising Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 17-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.
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