IPO Details
Bidding Dates
13 May 24 - 15 May 24
Price Range ₹
109 - 114
Total Equity
₹ 8.89Cr
Lot Size
1200
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
13 May 2024
Offer end
15 May 2024
Allotment
16 May 2024
Refund initiation
17 May 2024
Demat transfer
17 May 2024
Listing
21 May 2024
Offer start
13 May 2024
Offer end
15 May 2024
Allotment
16 May 2024
Refund initiation
17 May 2024
Demat transfer
17 May 2024
Listing
21 May 2024
About Company
Established on July 31, 2018, Veritas Advertising Limited is a full-service advertising agency offering comprehensive solutions across multiple platforms. With advertising spaces in West Bengal, Guwahati, and Shillong, the company stands out as one of the rare agencies owning media for marketing and advertising purposes. Additionally, it operates in major cities like Delhi, Mumbai, and Pune. Veritas Advertising Limited provides a premium ecosystem and a wide range of advertising solutions, including Brand Strategy, Events, and Outdoor (OOH) Media services. These encompass various advertisement modes such as police booth hoardings, newspaper insertions, brochures, and outdoor hoardings. The company's services are designed to achieve multiple objectives for its clients. These include establishing a strong brand presence and educating customers about their products or services. Additionally, the company focuses on expanding brand reach and visibility across various platforms. Through strategic marketing efforts, it aims to foster high recall and goodwill for the brand among its target audience. Moreover, the company emphasizes engaging and interacting with targeted customers to build lasting relationships and loyalty. Ultimately, the goal is to drive tangible results by increasing sales and enhancing conversions for its clients. The company boasts a clientele that includes prominent names like TVS, Honda, Ultratech Cement, Star Cement, Greenply, ITC Limited, Raipur Electronics, Mitsubishi Electric, ILS Hospitals, ICA, and Delhi Public School, among others.
Year Founded
31-07-2018
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 88.74 | 65.36 |
| Share Capital | 1845000 | 1845000 |
Offer to Public
7,80,000.00 Cr
Project Details
- Funding the capital expenditure towards setting up of new Police Booths in West Bengal, - 52.68cr
- General corporate purposes - 13.62cr
- Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point display - 6cr
Objectives
- 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 display in Kolkata, Mumbai and Pune.General Corporate Purposes.
Highlights
- Veritaas Advertising offers a comprehensive range of advertising services, including strategic brand planning, media planning, activations, design solutions, and advertisement space ownership. This comprehensive approach allows for effective execution of marketing campaigns across various channels.
- The company distinguishes itself by owning advertisement spaces in key locations across multiple cities, reducing dependence on third parties and enabling integrated services.
- Veritaas Advertising boasts a diverse client portfolio spanning various industries, including automobile, construction, real estate, electronics, FMCG, healthcare, education, lifestyle, and fashion, enhancing its market stability.
- The strategic expansion of the company's operations by setting up offices in major metro cities like Mumbai enhances its market reach and potential to cater to a broader client base across India.
- The company's clear utilization of IPO proceeds towards capital expenditure for setting up new police booths and pole kiosks, along with general corporate purposes, indicates a focused approach to business growth.
Challenges
- While Veritaas Advertising owns advertisement spaces, it remains dependent on third parties for certain services such as pole kiosks, newspaper insertion, and third-party outdoor hoardings, which may pose operational risks.
- The company typically does not enter into long-term agreements with intermediaries for advertising space, which could result in potential disruptions or challenges in securing required spaces for client campaigns.
- The advertising industry is highly competitive, with numerous players offering similar services. Veritaas Advertising may face challenges in maintaining market share and profitability amidst intense competition.
- The company's performance is sensitive to economic conditions, as advertising expenditures by clients may fluctuate in response to economic downturns or uncertainties, impacting its revenue and profitability.
- While the company has outlined clear utilization of IPO proceeds, there are inherent execution risks associated with deploying funds for capital expenditure projects, including potential delays, cost overruns, or operational challenges.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 268.59 | 9.00 | 12.58 | 12.58 | 0.6656 |
| 2021 | 152.32 | 1.00 | 43.89 | 43.89 | 2.3222 |
| 2023 | 529.27 | 9.00 | 43.89 | 43.89 | 2.3222 |
| 2024 | 981.53 | 207.90 | 19.72 | 19.72 | 9.3905 |
