VERITAAS ADVERTISING LTD (NSE SME)
May 13, 2024 - May 15, 2024
| Price | ₹109 - ₹114 |
| Premium | ₹145 |
|---|---|
| Lot size | 1200 |
| Allotment | May 16, 2024 |
| Listing | May 21, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 136800 | 207 |
| HNI | 2 | 2400 | 273600 | 89 |
Last updated on 15-May-2024 17:01:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 177600 | 18187200 | 102.41 |
| NIB | 106800 | 67274400 | 629.91 |
| RETAIL | 248400 | 245776800 | 989.44 |
| Total | 532800 | 331238400 | 621.69 |
| Retail Apps | 204814 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹96.4 | @8% ₹110.17 | @9% ₹123.95 | @10% ₹137.72 | @11% ₹151.49 | @12% ₹165.26 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Astrone Capital VCC- Arven | 102000 | 58.62% | 1.16 |
| Chanakya Opportunities Fund I | 72000 | 41.38% | 0.82 |
| Total | 174000 | 100.00% | 1.98 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.39% | 248400 |
| NII (HNI) | 14.35% | 106800 |
| Anchor | 23.39% | 174000 |
| QIB | 23.87% | 177600 |
| Market Maker | 5.00% | 37200 |
| Total | 100.00% | 744000 |
Veritaas Advertising IPO Details
| Issue Size | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Fresh Issue | 744,000 shares (aggregating up to ₹8.48 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,079,000 |
| Share holding post issue | 2,823,000 |
| Market Maker portion | 37,200 shares Horizon Financial Consultants |
Key Performance Indicator
| KPI | Feb-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 44.24% | 48.99% | 27.52% |
| ROCE | 39.65% | 36.06% | 15.87% |
| RONW | 44.23% | 48.99% | 27.52% |
| D/E | 0.64 | 1.50 | 1.64 |
| EPS (basic & Diluted) | 8.11 | 2.27 | 0.65 |
| P/BV | 6.69 | ||
| P/E Pre IPO | 54 |
Company Financials
Veritaas Advertising Limited Financial Information (Restated)
| Period | Feb 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 926.51 | 530.58 | 269.00 | 152.32 |
| Revenue | 786.75 | 786.75 | 339.22 | 234.21 |
| Profit | 156.79 | 43.89 | 12.58 | 19.72 |
| Net Worth | 354.39 | 89.60 | 45.71 | 25.13 |
| Reserves | 146.49 | 80.60 | 36.71 | 24.13 |
| Borrowing | 228.17 | 134.03 | 74.73 | |
| Amount in Lakhs | ||||
About Company
Veritas Advertising Limited, established in 2018, distinguishes itself as a premier advertising agency with a comprehensive suite of services spanning various platforms. With a notable presence in West Bengal, Guwahati, and Shillong, alongside operations in key metropolitan areas such as Delhi, Mumbai, and Pune, the company stands out as one of the few agencies owning media spaces. Offering a premium ecosystem, Veritas delivers comprehensive advertising solutions encompassing Brand Strategy, Events, and Outdoor Media services. From police booth hoardings to newspaper insertions, brochures, and outdoor hoardings, the company covers diverse advertising modes. Its service portfolio is designed to create brand presence, increase reach and visibility, foster recall and goodwill, engage with targeted customers, and drive sales and conversions. Counting renowned names like TVS, Honda, Ultratech Cement, and ITC Limited among its clientele, Veritas Advertising Limited prides itself on its robust team of 71 dedicated employees as of January 31, 2024, committed to delivering exceptional advertising solutions tailored to clients' needs.
Strength Factors
Comprehensive Service Portfolio: Veritas Advertising Limited offers fully integrated solutions, covering brand strategy, events, and outdoor media, ensuring clients receive cohesive campaigns for maximum impact.
Wide Geographical Reach: With a presence in key regions like West Bengal, Guwahati, Shillong, Delhi, Mumbai, and Pune, the company taps into diverse markets, enhancing its visibility and accessibility to a broad client base.
Diverse Client Base: Serving industries spanning automotive, cement, electronics, healthcare, and education, Veritas Advertising showcases adaptability and expertise, reducing reliance on specific sectors while staying attuned to industry trends.
Risk Factors
Dependency on Ad Space Availability: Veritas Advertising Limited's business is contingent upon the availability and affordability of advertising space or sites. Any substantial increase in prices or non-availability of such spaces could adversely impact the company's operations and financial performance.
Reliance on Police Booth Display: The Company significantly relies on police booth displays for advertising. Any interruption or non-availability of such ad space could negatively affect Veritas Advertising's business operations, potentially leading to decreased visibility and revenue.
Historical Negative Cash Flows: Veritas Advertising Limited has experienced negative cash flows in past years, which could pose a risk to its growth and overall business sustainability. Sustained negative cash flow may hinder the company's ability to invest in expansion initiatives, fund operations, or meet financial obligations, potentially impacting its long-term viability and competitiveness.
Veritaas Advertising IPO Lead Manager(s)
- Horizon Management Private Limited
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp