IPO Details
Bidding Dates
12 May '24 - 14 May '24
Minimum Investment
₹1,36,800/ 1 Lot (1200 shares)
Price Range
₹109 - ₹114
Maximum Investment
₹1,36,800/ 1 Lot (1200 shares)
Retail Discount
To be announced
Issue Size
₹8.48 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
May 12, 2024
Closing Date
May 14, 2024
Basis of Allotment
May 15, 2024
Initiation of Refunds
May 16, 2024
Credit of Shares to Demat
May 16, 2024
Listing Date
May 20, 2024
Cut-off time for UPI mandate confirmation
May 14, 2024
About Veritaas Advertising Limited
Veritaas Advertising Limited, incorporated on July 31, 2018, stands as a comprehensive advertising agency offering 360-degree services across diverse platforms. The company's expansive reach extends to West Bengal, Guwahati, Shillong, Delhi, Mumbai, and Pune, marking it as one of the few media-owning marketing and advertising agencies.
Specialising in Brand Strategy, Events, and Outdoor (OOH) Media services, Veritaas Advertising Limited facilitates a premium ecosystem for comprehensive advertising solutions. Their offerings include creating brand presence, increasing brand reach and visibility, enhancing brand recall and goodwill, engaging with targeted customers, and boosting sales and conversions.
With a prestigious client base featuring brands like TVS, Honda, Ultratech Cement, and ITC Limited, the company's integrated services have garnered industry-wide recognition. Their strategic approach, diverse service portfolio, and experienced management team ensure effective brand-building and impactful marketing campaigns across various industries and geographies.
Industry Outlook:
- The global digital advertising market is projected to grow at a CAGR of 9.2% from 2021 to 2026, driven by increased internet penetration and mobile usage.
- In 2023, spending on digital advertising in India is expected to reach $3 billion, with social media and video ads accounting for over 60% of the total.
Veritaas Advertising Limited IPO Details
Veritaas Advertising Limited IPO Dates
Veritaas Advertising Limited IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.
Veritaas Advertising Limited IPO Price Band
Veritaas Advertising Limited is a Fixed Price Issue IPO. The price range per share is set at ₹109 to ₹114.
Veritaas Advertising Limited IPO Lot Size
The lot size for Veritaas Advertising Limited IPO is 1200 shares with a minimum investment of ₹1,36,800.
Veritaas Advertising Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Veritaas Advertising Limited plans to use funds to set up additional police booths in West Bengal, Assam, Maharashtra, and Delhi, expanding advertising reach.
- The company aims to allocate funds from IPO for installing traffic signal point displays (Pole Kiosks) in Kolkata, Mumbai, and Pune to enhance brand recall and visibility.
- The remaining funds will be utilised for general corporate purposes, such as strategic initiatives, procurement, brand strengthening, and meeting ongoing corporate needs in compliance with regulatory requirements.
Peer Details
The following are the listed peers of Veritaas Advertising Limited:
- Crayons Advertising Limited
- Maagh Advertising & Marketing Services Limited
How to Check the Allotment Status of the Veritaas Advertising Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Veritaas Advertising Limited IPO
- Registered office: 38/2A, Gariahat South Road, Dhakuria, Rash Behari Avenue, Kolkata - 700 029, West Bengal, India
- Phone: +91 33 4044 6683
- E-mail:info@veritaasadvertising.com
IPO Financials
| Particulars | As of February 10,2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue (in ₹ Lakhs) | 786.75 | 786.75 | 339.22 | 234.21 |
| Profit After Tax (PAT) (in ₹ Lakhs) | 156.79 | 43.89 | 12.58 | 19.72 |
| Assets (in ₹ Lakhs) | 926.51 | 530.58 | 269.00 | 152.32 |
| Net Worth (in ₹ Lakhs) | 354.39 | 89.60 | 45.71 | 25.13 |
| Reserves and Surplus (in ₹ Lakhs) | 146.49 | 80.60 | 36.71 | 24.13 |
| Total Borrowing (in ₹ Lakhs) | 228.17 | 134.03 | 74.73 | NA |
Know before investing
Strengths
3-
The company boasts a fully integrated service portfolio that delivers result-oriented solutions, ensuring comprehensive advertising and marketing strategies for clients.
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With a strategic geographical presence in key markets like West Bengal, Assam, Maharashtra, Delhi, Kolkata, Mumbai, and Pune, Veritaas Advertising Limited can tap into diverse consumer demographics and expand its market share.
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The company's diverse customer base across various industries showcases its adaptability and expertise in catering to different market segments. Additionally, maintaining long-term relationships with marquee clients such as TVS, Honda, Ultratech Cement, and others highlights its trustworthiness and quality of service.
Risks
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The company's advertising business relies heavily on the availability of ad space or sites, mainly police booths. Any increase in prices or nonavailability of such spaces may negatively impact its operations and financial results.
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The company's dependence on leased premises for its registered office, workshop, and regional offices exposes it to risks associated with lease renewals. Disruptions in rights as a lessee, and potential early termination could negatively impact its operational capabilities and financial stability.
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Veritaas Advertising Limited depends on a few customers for a significant portion of its revenue. Any decrease in sales or revenues from key customers could have adverse effects on its business.
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The company's commercial success is closely tied to the industries in which its customers operate. Any downturn or disruption in these industries could lead to reduced demand for advertising services, affecting Veritaas Advertising Limited's financial performance.
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Veritaas Advertising Limited IPO FAQs
Veritaas Advertising Limited IPO is a Book Built Issue IPO. The IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.
The Basis of Allotment will happen on Thursday, May 16, 2024.
The IPO subscription window will open on Monday, May 13, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1200 shares.
The listing date for Veritaas Advertising Limited IPO is Tuesday, May 21, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
