Veritaas Advertising Limited IPO is set to launch on 10 May, 2024. The company was incorporated in 2018. It is an integrated advertising agency offering 360-degree services across multiple platforms. It owns advertisement spaces in West Bengal, Guwahati and Shillong, thereby making the company one of the few media owning marketing and advertising agencies. The company also operates in Delhi, Mumbai and Pune. VAL operates/advertises in police booths and outdoor hoardings.
With content at its heart, the Company builds creative stories around brands to enhance their ROI. 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.
Other Information
It provides a high-end ecosystem and end-to-end advertising solutions platform for advertising media services consisting of Brand Strategy, Events, Outdoor (OOH) Media services which covers advertisement modes such as police booth hoardings, Newspapers insertions, Brochures, and display of Outdoor Hoardings, etc. It is dependent on third parties for space, such as pole kiosks, newspapers insertion, third party outdoor hoardings, etc. for catering the needs of clients.
The company believes that police booth advertisements draw significant attention of the target audience, on account of widespread presence in diverse areas of a city. Owing to the efficacy of this advertisement segment, it has in the past significantly invested in advertisements through police booths at cities /towns of West Bengal, Guwahati and Shillong, thereby making it one of its main business verticals.
Veritaas Advertising Limited : IPO DETAILS
Veritaas Advertising Limited IPO is set to launch on 13 May, 2024. The subscription timeline extends till 15 May, 2024. The size for the IPO is Rs. 8.48 Crore. The entire issue is a fresh issue of 7.44 Lakh shares amounting to Rs. 8.48 Crore. The lot size is 1200 shares and the price is Rs. 109 to Rs. 114 per share. The company is going to get listed at NSE SME Board. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is Mas Services Limited.
Tabular Description of Veritaas Advertising Limited IPO
| IPO OPENING DATE | 13 May, 2024 |
| CLOSING DATE FOR IPO | 15 May, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | Rs. 10 per share |
| IPO price band | Rs. 109 to Rs. 114 per share |
| LOT SIZE | 1200 shares |
| MINIMUM ORDER QUANTITY | 1200 shares |
| ISSUE SIZE | Rs. 8.48 Crore |
| OFFER FOR SALE | NIL |
| FRESH ISSUE | Rs. 8.48 Crore |
| LISTING AT | NSE SME Board |
| LISTING DATE | 21 May, 2024 |
Veritaas Advertising Limited IPO: IMPORTANT DATES
| IPO OPENING DATE | 13 May, 2024 |
| CLOSING DATE FOR IPO | 15 May, 2024 |
| IPO ALLOTMENT DATE | 16 May, 2024 |
| REFUNDS | 17 May, 2024 |
| DEMAT A/C CREDITED ON | 17 May, 2024 |
| IPO LISTING DATE | 21 May, 2024 |
Veritaas Advertising Limited IPO begins for subscription from 13 May, 2024. The IPO subscription would continue till 15 May, 2024. The allotment status for the shareholders who applied would come on 16 May, 2024. The refunds for the ones who did not get allotment would be initiated on 17 May, 2024. The DEMAT accounts of shareholders would be credited on 17 May, 2024. The listing of the company would be completed on 21 May, 2024.
Veritaas Advertising Limited IPO: Lead Managers
The lead managers are :
- Horizon Management Private Limited
The minimum and maximum lot size for retail investors is 1200 shares, amounting to Rs. 136800. The minimum lot size for HNI is 2400 shares, amounting to Rs. 273600.
| Shares | Amount | |
| Retail (Minimum) | 1200 shares | Rs. 136800 |
| Retail (Maximum) | 1200 shares | Rs. 136800 |
| HNI (Minimum) | 2400 shares | Rs. 273600 |
OBJECTIVES FOR THE IPO
- Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra and Delhi;
- Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point displays in Kolkata, Mumbai and Pune;
- General Corporate Purposes
COMPANY FINANCIALS
| Particularly (in Rs. Lakhs) | 2020-21 | 2021-22 | 2022-23 | 10-Feb-2024 |
| Asset | 152.32 | 269.00 | 530.58 | 926.51 |
| Revenue | 234.21 | 339.22 | 786.75 | 786.75 |
| PAT | 19.72 | 12.58 | 43.89 | 156.79 |
Veritaas Advertising Limited had an asset base of Rs. 152.32 Lakhs in 2021 which increased to Rs. 530.58 Lakhs in 2023.The asset base of the firm jumped to Rs. 926.51 Lakhs as on 10-Feb-2024. The revenue for the company was Rs. 234.21 Lakhs in 2021, which increased to Rs. 786.75 Lakhs in 2023. The revenue for the period ending 10-Feb-2024 was Rs. 786.75 Lakhs. The profit of the company increased from Rs. 19.72 Lakhs in 2021 to Rs. 43.89 Lakhs in 2023. The profit generated for the period ending 10-Feb-2024 was Rs. 156.79 Lakhs.
PROS
- The company is operating in a highly competitive and fragmented segment.
- It marked boosted top and bottom lines from FY23 onwards.
- 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 Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Veritaas Advertising Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
