Veritaas Advertising Limited
Book Built Issue IPO · NSE
- Price band
- ₹109 - ₹114
- Lot size
- 1,200 shares
- Issue amount
- ₹8.48 cr
- Total subscription
- 621.69×
- Opens
- 13 May 2024
- Closes
- 15 May 2024
- Allotment
- 16 May 2024
- Listing
- 21 May 2024
Offer at a glance
Issue overview
- Issue size
- 7,44,000 shares
- Face value
- ₹10 Per Equity Share
- Minimum investment
- ₹1,30,800
- Fresh issue
- ₹8.48 cr
- Offer for sale
- ₹0 cr
- Registrar
- Mas Services Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,36,800
- Issue type
- Book Built Issue IPO
- Shares before issue
- 20,79,000
- Shares after issue
- 28,23,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 1,200 | ₹1,36,800 |
| HNI | 2 | 2,400 | ₹2,73,600 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 2.02 | 207.33 |
| RETAIL | 2.83 | 2,801.86 |
Financial performance
Company financials
In Lakhs · Reported periods may include interim results.
Key performance indicators
| Metric | Feb-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 8.11 | 2.27 | 0.65 |
| ROE | 44.24 | 48.99 | 27.52 |
| ROCE | 39.65 | 36.06 | 15.87 |
| RONW | 44.23 | 48.99 | 27.52 |
| PRE IPO(PE) | 6.69 | 0 | 0 |
| POST IPO(PE) | 54 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Founded in 2018, Veritas Advertising Limited is a leading advertising agency offering a wide range of services across multiple platforms. With a strong presence in West Bengal, Guwahati, and Shillong, along with operations in Delhi, Mumbai, and Pune, the company is among the few agencies that own media spaces, providing a premium advertising ecosystem. Veritas specializes in brand strategy, events, and outdoor media, delivering impactful advertising solutions like police booth hoardings, newspaper insertions, brochures, and outdoor billboards. Their services help businesses enhance brand presence, boost visibility, engage target audiences, and drive sales. With a prestigious client list that includes TVS, Honda, Ultratech Cement, and ITC Limited, the company has established a strong industry reputation. As of January 31, 2024, a team of 71 dedicated professionals ensures high-quality, tailored advertising solutions to meet diverse client needs.
Strengths
- Full-Service Advertising Solutions: Veritas Advertising provides end-to-end services, including brand strategy, events, and outdoor media, ensuring cohesive and high-impact campaigns for clients.
- Strong Market Presence: With operations in West Bengal, Guwahati, Shillong, Delhi, Mumbai, and Pune , the company reaches diverse markets, increasing brand visibility and accessibility.
- Versatile Clientele: Catering to industries like automotive, cement, electronics, healthcare, and education , Veritas demonstrates adaptability and industry expertise, reducing dependence on any single sector.
Risk factors
- Dependence on Ad Space: The company’s operations rely on the availability and pricing of advertising spaces. Rising costs or limited access to prime locations could impact business performance.
- Heavy Reliance on Police Booth Ads: A significant portion of Veritas Advertising’s revenue comes from police booth displays. Any disruption in access to these spaces could reduce visibility and affect earnings.
- Past Financial Challenges: The company has faced negative cash flows in previous years, which could impact growth and stability. Continued cash flow issues may limit expansion, operational funding, and long-term sustainability.
Promoters
Debojyoti Banerjee
Sangita Debnath
Mina Debnath
Registrar & documents
Lead manager
Horizon Management Private Limited
Registrar & contacts
Mas Services Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
38/2A, Gariahat South Road, Dhakuria, Rash Behari Avenue, Kolkata - 700 029
+91 33 4044 6683
[email protected]Company website ↗Understanding VERITAAS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.