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Veritaas Advertising IPO is a book built issue of Rs 8.48 crores. The issue is entirely a fresh issue of 7.44 lakh shares.
Veritaas Advertising IPO bidding started from May 13, 2024 and ended on May 15, 2024. The allotment for Veritaas Advertising IPO was finalized on Thursday, May 16, 2024. The shares got listed on NSE SME on May 21, 2024.
Veritaas Advertising IPO price band is set at ₹109 to ₹114 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹136,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹273,600.
Horizon Management Private Limited is the book running lead manager of the Veritaas Advertising IPO, while Mas Services Limited is the registrar for the issue. The market maker for Veritaas Advertising IPO is Horizon Financial Consultants.
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 |
| Price Band | ₹109 to ₹114 per share |
| Lot Size | 1200 Shares |
| Total 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 |
Veritaas Advertising IPO offers 744,000 shares. 177,600 (23.87%) to QIB, 106,800 (14.35%) to NII, 248,400 (33.39%) to RII and 174,000 (23.39%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 174,000 (23.39%) |
| Market Maker Shares Offered | 37,200 (5.00%) |
| QIB Shares Offered | 177,600 (23.87%) |
| NII (HNI) Shares Offered | 106,800 (14.35%) |
| Retail Shares Offered | 248,400 (33.39%) |
| Total Shares Offered | 744,000 (100%) |
Veritaas Advertising IPO raises Rs 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 | 174,000 |
| 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 | Monday, May 13, 2024 |
| IPO Close Date | Wednesday, May 15, 2024 |
| Basis of Allotment | Thursday, May 16, 2024 |
| Initiation of Refunds | Friday, May 17, 2024 |
| Credit of Shares to Demat | Friday, May 17, 2024 |
| Listing Date | Tuesday, May 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 15, 2024 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹136,800 |
| Retail (Max) | 1 | 1200 | ₹136,800 |
| HNI (Min) | 2 | 2,400 | ₹273,600 |
| Lot Size Calculator | |||
The promoters of the Company are Debojyoti Banerjee, Sangita Debnath and Mina Debnath.
| Share Holding Pre Issue | 88.74% |
| Share Holding Post Issue | 88.74% |
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 |
| Revenue | 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 Rs 32.18 Cr.
KPI as of February 10, 2024.
| KPI | Values |
|---|---|
| ROE | 44.24% |
| ROCE | 39.65% |
| Debt/Equity | 0.64 |
| RoNW | 44.23% |
| P/BV | 6.69 |
| PAT Margin (%) | 17.36 |
| 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...
The Veritaas Advertising IPO is subscribed 621.62 times on May 15, 2024 6:19:58 PM. 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) |
|---|---|
| QIB | 102.41 |
| NII | 629.56 |
| Retail | 989.44 |
| Total | 621.62 |
Total Application : 204,814 (989.44 times)
| Listing Date | May 21, 2024 |
| BSE Script Code | |
| NSE Symbol | VERITAAS |
| ISIN | INE0SRI01019 |
| Final Issue Price | ₹114 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹114.00 |
| ₹275.00 |
| ₹261.25 |
| ₹288.75 |
| ₹261.25 |
Veritaas Advertising Limited
38/2A, Gariahat South Road, Dhakuria
Rash Behari Avenue
Kolkata - 700 029,
Phone: +91 33 4044 6683
Email: info@veritaasadvertising.com
Website: http://www.veritaasadvertising.com/
Mas Services Limited
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp
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Check our SME IPO Guide 
Veritaas Advertising IPO is a SME IPO of 744,000 equity shares of the face value of ₹10 aggregating up to ₹8.48 Crores. The issue is priced at ₹109 to ₹114 per share. The minimum order quantity is 1200 Shares.
The IPO opens on May 13, 2024, and closes on May 15, 2024.
Mas Services Limited 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 Shares, and the minimum amount required is ₹136,800.
You can apply in Veritaas Advertising IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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