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Veritaas Advertising IPO is a book build issue of ₹8.48 crores. The issue is entirely a fresh issue of 0.07 crore shares of ₹8.48 crore.
Veritaas Advertising IPO bidding started from May 13, 2024 and ended on May 15, 2024. The allotment for Veritaas Advertising IPO was finalized on May 16, 2024. The shares got listed on NSE SME on May 21, 2024.
Veritaas Advertising IPO price band is set at ₹114.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,30,800 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,73,600.
Horizon Management Pvt.Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The market maker of the company is Horizon Financial Consultants Pvt.Ltd..
Refer to Veritaas Advertising IPO RHP for detailed Information.
| IPO Date | May 13, 2024 to May 15, 2024 |
| Listing Date | May 21, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹109 to ₹114 per share |
| Issue Price Final | ₹114 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 7,44,000 shares (aggregating up to ₹8.48 Cr) |
| Reserved for Market Maker | 37,200 shares Horizon Financial Consultants Pvt.Ltd. (aggregating up to ₹0.4241 Cr) |
| Net Offered to Public | 7,06,800 shares (aggregating up to ₹8.06 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 20,79,000 shares |
| Share Holding Post Issue | 28,23,000 shares |
Veritaas Advertising IPO offers total 7,44,000 shares. Out of which 3,51,600 (47.26%) allocated to QIB, 1,77,600 (23.87%) allocated to QIB, 1,06,800 (14.35%) allocated to NII, 2,48,400 (33.39%) allocated to RII and 1,74,000 (23.39%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 37,200 (5.00%) |
| QIB Shares Offered | 3,51,600 (47.26%) |
| − Anchor Investor Shares Offered | 1,74,000 (23.39%) |
| − QIB (Ex. Anchor) Shares Offered | 1,77,600 (23.87%) |
| NII (HNI) Shares Offered | 1,06,800 (14.35%) |
| Retail Shares Offered | 2,48,400 (33.39%) |
| Total Shares Offered | 7,44,000 (100.00%) |
Veritaas Advertising IPO raises ₹1.98 crore from anchor investors. Veritaas Advertising IPO Anchor bid date is May 10, 2024. Veritaas Advertising IPO Anchor Investors list
| Bid Date | May 10, 2024 |
| Shares Offered | 1,74,000 |
| 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 |
Veritaas Advertising IPO opens on May 13, 2024, and closes on May 15, 2024.
| IPO Open Date | Mon, May 13, 2024 |
| IPO Close Date | Wed, May 15, 2024 |
| Tentative Allotment | Thu, May 16, 2024 |
| Initiation of Refunds | Fri, May 17, 2024 |
| Credit of Shares to Demat | Fri, May 17, 2024 |
| Tentative Listing Date | Tue, May 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, May 15, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,36,800 |
| Retail (Max) | 1 | 1,200 | ₹1,36,800 |
| HNI (Min) | 2 | 2,400 | ₹2,73,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 operate 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
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 so on and so forth.
As of January 31, 2024, the Company has 71 employees on its payroll.
| Period Ended | 10 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 926.51 | 530.58 | 269.00 | 152.32 |
| Total Income | 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 | ||||
The market capitalization of Veritaas Advertising IPO is ₹32.18 Cr.
KPI as of Sat, Feb 10, 2024.
| KPI | Values |
|---|---|
| ROE | 44.24% |
| ROCE | 39.65% |
| Debt/Equity | 0.64 |
| RoNW | 44.23% |
| PAT Margin | 17.36% |
| Price to Book Value | 6.69 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.11 | 6.66 |
| P/E (x) | 54 | 17.1 |
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] 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 longer gestation period for migration to main board. Investors may park moderate fund for the medium term. Read detail review...
| Listing Date | May 21, 2024 |
| BSE Script Code | |
| NSE Symbol | VERITAAS |
| ISIN | INE0SRI01019 |
| Final Issue Price | ₹114 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹114.00 |
| Open | ₹275.00 |
| Low | ₹261.25 |
| High | ₹288.75 |
| Last Trade | ₹261.25 |
Veritaas Advertising Ltd.
38/2A, Gariahat South Road, Dhakuria
Dhakuria
Rash Behari Avenue
Kolkata, West Bengal, 700029
Phone: +91 33 4044 6683
Email: info@veritaasadvertising.com
Website: http://www.veritaasadvertising.com/
MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
Veritaas Advertising IPO is a SME IPO of 7,44,000 equity shares of the face value of ₹10 aggregating up to ₹8.48 Crores. The issue is priced at ₹114 per share. The minimum order quantity is 1200.
The IPO opens on May 13, 2024, and closes on May 15, 2024.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Veritaas Advertising IPO using UPI as a payment gateway. Zerodha customers can apply in Veritaas Advertising IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veritaas Advertising IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veritaas Advertising IPO opens on May 13, 2024 and closes on May 15, 2024.
Veritaas Advertising IPO lot size is 1200, and the minimum amount required for application is ₹1,36,800.
You can apply in Veritaas Advertising IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Veritaas Advertising IPO will be done on Thursday, May 16, 2024, and the allotted shares will be credited to your demat account by Friday, May 17, 2024. Check the Veritaas Advertising IPO allotment status.
The Veritaas Advertising IPO listing date is on Tuesday, May 21, 2024.
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