Veritaas Advertising’s initial public offering (IPO) will begin subscriptions on May 13, 2024 (Monday), and will close on May 15 (Wednesday).
As a fully integrated advertising firm, the company offers a complete set of services across several platforms. As one of the few media businesses that owns marketing and advertising agencies, the company has advertising reach in West Bengal, Guwahati, and Shillong.
The organization also operates in Pune, Mumbai, and Delhi. The company runs and advertises on outdoor hoardings and police stations, reducing their dependency on third parties and enabling them to deliver integrated services.
The Rs. 8.48 crore Veritaas Advertising IPO contains a fresh offering of 744,000 equity shares with a face value of Rs. 10. There isn’t a component that is for sale.
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Earning Per Share (EPS) of Veritaas Advertising IPO is Rs. 48.77 per equity share, Return on Net Worth (RoNW) is 48.99%, and current Net Asset Value (NAV) is Rs. 99.55 per equity share.
According to experts, the company in FY23 had a revenue of Rs. 786.75 lakhs, EBITDA of Rs. 104.96 lakhs, and PAT of Rs. 43.89 lakhs. As of February 10th, 2024, the company reported revenue of Rs. 903.97 lakhs, EBITDA of Rs. 258.68 lakhs, and PAT of Rs. 156.79 lakhs.
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Veritaas Advertising’s IPO shares are expected to be launched on NSE SME on May 21 (Tuesday).
Currently, the Veritaas Advertising IPO based on the allocation of shares will be concluded on May 16 (Thursday), and the business will commence refunds on May 17 (Friday), with the shares being credited to allottees’ demat accounts on Friday.
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Veritaas Advertising’s share price is predicted to be Rs. 169, 48.25% more than the IPO price of Rs. 114, taking into account the upper end of the IPO pricing band and the current grey market premium.
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Disclaimer: The above content is for informational purposes only. The 1% News recommends consulting a SEBI-registered investment advisor before making any investment decision.
