Bookbuilding IPO | ₹8 Cr | Listed at NSE SME | Mon, May 13, 2024 - Wed, May 15, 2024
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 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,36,800 (1200 shares) (based on upper price). The minimum lot size for investment in 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 Open
Mon, May 13, 2024
IPO Close
Wed, May 15, 2024
Issue Price
₹114 per share
Market Cap (Pre-IPO)
₹32.18 Cr
| IPO Date | 13 to 15 May, 2024 |
| Listed on | Tue, May 21, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹114 |
| Issue Price | ₹114 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 7,44,000 shares (agg. up to ₹8 Cr) |
| Reserved for Market Maker | 37,200 shares Horizon Financial Consultants Pvt.Ltd. (agg. up to ₹0.4241 Cr) |
| Fresh Issue (Ex Market Maker) | 7,06,800 shares (agg. up to ₹8 Cr) |
| Net Offered to Public | 7,06,800 shares (agg. up to ₹8 Cr) |
| Share Holding Pre Issue | 20,79,000 shares |
| Share Holding Post Issue | 28,23,000 shares |
| NSE Symbol | VERITAAS |
| ISIN | INE0SRI01019 |
Veritaas Advertising IPO comprises a total issue size of 7,44,000 shares. The net offer to the public is 7,06,800 shares, after excluding 37,200 shares allotted on a firm basis. Of the Net offer 3,51,600 (49.75%) are allocated to QIB, 1,06,800 (15.11%) allocated to NII 2,48,400 (35.14%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 3,51,600 | 49.75% | 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 | 15.11% | 14.35% |
| Retail Shares Offered | 2,48,400 | 35.14% | 33.39% |
| Firm Reservations | |||
| Market Maker Shares Offered | 37,200 | 5.00% | |
| Total Shares Offered | 7,44,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
Veritaas Advertising IPO raises ₹1.98 crore from anchor investors. Veritaas Advertising IPO Anchor bid date is May 10, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, May 10, 2024 |
| Shares Offered | 1,74,000 |
| Anchor Portion (₹ Cr.) | 1.98 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jun 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Aug 14, 2024 |
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 | 9.27 | 5.31 | 2.69 | 1.52 |
| Total Income | 7.87 | 7.87 | 3.39 | 2.34 |
| Profit After Tax | 1.57 | 0.44 | 0.13 | 0.20 |
| NET Worth | 3.54 | 0.90 | 0.46 | 0.25 |
| Reserves and Surplus | 1.46 | 0.81 | 0.37 | 0.24 |
| Total Borrowing | 2.28 | 1.34 | 0.75 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra and Delhi | 5.27 |
| 2 | Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point display in Kolkata, Mumbai and Pune | 0.60 |
| 3 | General corporate purposes | 1.36 |
| KPI | Feb 10, 2024 |
|---|---|
| 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 (₹) | 2.11 | 6.66 |
| P/E (x) | 54 | 17.1 |
| Promoter Holding | 88.74% | 88.74% |
| Market Cap | ₹32.18 Cr. |
The Veritaas Advertising IPO is subscribed 621.62 times on May 15, 2024 6:19:58 PM (Day 3). The public issue subscribed 989.44 times in the retail category, 102.41 times in the QIB category, and 629.56 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 102.41 | 1,77,600 | 1,81,87,200 |
| NII* | 629.56 | 1,06,800 | 6,72,37,200 |
| Retail | 989.44 | 2,48,400 | 24,57,76,800 |
| Total | 621.62 | 5,32,800 | 33,12,01,200 |
Total Application : 2,04,814
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 0.43 |
| 2 | Marketing and Selling Commission and expenses | 0.47 |
| 3 | Advertising expenses | 0.08 |
| 4 | Printing and distribution of Issue Stationary | 0.01 |
| 5 | Listing fees | 0.00 |
| 6 | SEBI, and NSE processing fees | 0.01 |
| 7 | Book Building software fees | 0.03 |
| 8 | Other regulatory expenses | 0.10 |
| 9 | Miscellaneous | 0.13 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹114.00 |
| Open | ₹275.00 |
| Low | ₹261.25 |
| High | ₹288.75 |
| Last Trade | ₹261.25 |
Lead Manager Reports
Veritaas Advertising IPO is a SME IPO of 7,44,000 equity shares of the face value of ₹10 aggregating up to ₹8 Crores. The issue is priced at ₹114 per share. The minimum order quantity is 1200.
The IPO opens on Mon, May 13, 2024, and closes on Wed, 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 Mon, May 13, 2024 and closes on Wed, 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 Fri, May 17, 2024. Check the Veritaas Advertising IPO allotment status.
The Veritaas Advertising IPO listing date is on Tue, May 21, 2024.
