Veritaas Advertising IPO to open on May 13; price band set at ₹109-114 apiece.

The Veritaas Advertising IPO begins on May 13 and ends on May 15, with a price range of ₹109–114 per share. The corporation provides integrated advertising services across multiple locations and owns marketing firms. The company’s revenue in FY23 was ₹786.75 lakh.

Veritaas Advertising IPO Live
The Veritaas Advertising IPO will be accessible for subscriptions on Monday, May 13, and will conclude on Wednesday, May 15.

The Veritaas Advertising IPO will be accessible for subscriptions on Monday, May 13, and will conclude on Wednesday, May 15. The issue’s price band is ₹109 to ₹114 per share. Veritaas Advertising’s IPO lot size is 1,200 shares.

The equity shares are allocated as follows: Market Makers will be allocated up to 37,200 equity shares, Non-Institutional Investors (NIIs) up to 1,06,800 stock shares, Retail Individual Investors (RIIs) up to 2,48,400 equity shares, and QIB Anchor Portion up to 1,74,000 equity shares.

As a fully integrated advertising firm, the company offers 360-degree services across several platforms. As one of the few media businesses that owns marketing and advertising firms, the company has advertising space in West Bengal, Guwahati, and Shillong. The organization also operates in Pune, Mumbai, and Delhi. The company operates and advertises on outdoor hoardings and police booths, reducing their reliance on third parties and enabling them to provide integrated services.

The company’s listed counterparts include Crayons Advertising Ltd. (P/E of 24.74) and Maagh Advertising & Marketing Services Ltd. (P/E of 11.41).

In FY23, the company had sales of ₹786.75 lakhs, EBITDA of ₹104.96 lakhs, and PAT of ₹43.89 lakhs. As of February 10th and 24th, the company reported sales of ₹903.97 lakhs, EBITDA of ₹258.68 lakhs, and PAT of ₹156.79 lakhs.

Also Read: Mandeep Auto Industries IPO opens on 13 May next week: Everything you need to know about price bands and crucial dates.

Veritaas Advertising IPO details

Veritaas Advertising IPO, valued at ₹8.48 crore, includes 744,000 equity shares with a face value of ₹10. There is no “offer for sale” component.

The net proceeds of the issue will be used by the company to fund the capital expenditure for the establishment of new police booths in West Bengal, Assam, Maharashtra, and Delhi; the capital expenditure for the establishment of traffic signal point displays in Kolkata, Mumbai, and Pune via Pole Kiosks; and general corporate purposes.

Horizon Management Private Limited serves as the book running lead manager for the Veritaas Advertising IPO, and Mas Services Limited acts as the registrar. Horizon Financial Consultants is marketing the Veritaas Advertising initial public offering.

Tentatively, the Veritaas Advertising IPO basis of allotment of shares will be concluded on Thursday, May 16, and the business will commence refunds on Friday, May 17, with the shares being credited to allottees’ demat accounts on Friday. Veritas Advertising’s IPO shares are expected to be launched on NSE SME on Tuesday, May 21.

According to Manav Goenka, President of Operations at Horizon Management Private Limited, Veritas Advertising Limited has a strong presence in the advertising industry. Their strategic concentration on outdoor hoardings and police booth ads, in addition to their wide service offering, demonstrates their potential for growth.

Read More: TVS Motor Co Q4 Results Live : Profit increased by 15.14% year over year.

Veritaas Advertising IPO GMP today

Veritaas Advertising IPO GMP today, or grey market premium, is +55. Veritas Advertising’s share price was trading at a premium of ₹55 in the gray market, according to

Veritas Advertising’s expected listing price of ₹169 per share is 48.25% higher than the IPO price of ₹114, taking into account the upper end of the IPO pricing band and the current grey market premium.

The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.

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Veritaas Advertising IPO, Veritaas Advertising IPO details, Veritaas Advertising IPO GMP today, Veritas Advertising share price

Hi, My self Saurabh Singh

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