Veritaas Advertising IPO Review

 
Veritaas Advertising IPO Review

IPO Open Date: May 13, 2024

IPO Close Date: May 15, 2024

IPO Price: ₹109 to ₹114 per share

Lot Size: 1200 Shares

Listing: May 21, 2024

Veritaas Advertising is scheduled to hit the market on May 13, 2024 and close on May 15, 2024. Veritaas Advertising plans to raise around ₹8.48 Cr through an IPO with a sale of up to 744,000 equity shares of ₹10 each.  The Retail offered 35.14%, QIB Shares Offered 49.75%, HNI Shares Offered 15.11%

Veritas Advertising Limited, established in July 2018, is a full-service advertising agency offering a wide range of services across different platforms. With advertising spaces in West Bengal, Guwahati, and Shillong, the company stands out as one of the few agencies that own media for marketing purposes. Operating in key cities like Delhi, Mumbai, and Pune, Veritas Advertising provides a premium ecosystem and comprehensive solutions for various advertising needs, including Brand Strategy, Events, and Outdoor Media services.

Their service offerings aim to create brand presence, increase visibility and reach, build brand recall and goodwill, engage with customers, and ultimately drive sales and conversions. Some of their esteemed clients include renowned names such as TVS, Honda, Ultratech Cement, Star Cement, Greenply, ITC Limited, and many more. As of January 31, 2024, the company boasts a dedicated team of 71 employees working towards fulfilling their clients' advertising goals.

Veritaas Advertising



Veritaas Advertising IPO Details

Veritaas Advertising IPO opens on May 13, 2024, and closes on May 15, 2024. The Listing date for Veritaas Advertising IPO is on May 21, 2024. The price band for IPO is ₹109 to ₹114 per share and lot size of 1200 Shares.

IPO DateMay 10, 2024 to May 15, 2024
Listing DateMay 21, 2024
Price₹109 to ₹114 per share
Lot Size1200 Shares
Issue Size₹8.48 Cr
Face Value₹10 per share

Veritaas Advertising IPO Tentative Timetable

Veritaas Advertising opening date is May 13, 2024 and close date is May 15, 2024. The IPO allotment date is May 16, 2024. The refund initiation of IPO is on May 17, 2024. The credit of shares in demat account is on May 17, 2024. The listing date is on May 21, 2024.

EventDate
IPO OpeningMay 13, 2024
IPO ClosingMay 15, 2024
IPO Allotment DateMay 16, 2024
Refund InitiationMay 17, 2024
Shares Credit to DematMay 17, 2024
Lisiting DateMay 21, 2024

Veritaas Advertising IPO Lot Size

Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹136,800).

CategoryLotsSharesAmount
Retail(Minimum)11200₹136,800
Retail(Maximum)11200₹136,800
HNI (Minimum)22400₹273,600

Veritaas Advertising IPO Promoter Holding

Pre Issue Share Holding88.74%
Post Issue Share Holding88.74%

Veritaas Advertising IPO Review

Veritaas Advertising has shown significant growth in its top and bottom lines starting from the financial year 2023. However, the aggressive pricing of the IPO based on FY24 earnings raises some concerns. The company's focus on providing integrated advertising services, especially through police booth advertisements in various regions like West Bengal, Guwahati, and Shillong, sets it apart in the market. With a proposed expansion plan to install police booths in more locations and allocate funds for other business purposes, Veritaas Advertising Ltd. aims to strengthen its presence further.

The financial performance of Veritaas Advertising Ltd. has shown a positive trend with increasing revenue and net profit over the last few fiscal years. The average Return on Net Worth (RoNW) of 46.75% reflects the company's ability to generate profits relative to its net worth. However, the pricing of the IPO at a high Price/Earnings (P/E) ratio based on FY24 earnings indicates a potentially overvalued offering. Investors looking to participate in this IPO may need to carefully consider the company's financial metrics and future growth prospects before making a decision.

In comparison with listed peers such as Crayons Advertising and Maagh Advertising, Veritaas Advertising Ltd. presents a unique value proposition in the advertising industry. The company's dividend policy, which is yet to be declared, adds an element of uncertainty for investors seeking regular income from their investments. Overall, while Veritaas Advertising Ltd. shows promise with its innovative advertising services and growth trajectory, potential investors should conduct thorough due diligence and consider the pricing dynamics before investing in this IPO for medium-term gains.

Veritaas Advertising IPO Subscription Status (Bidding Details)

Table not found

Veritaas Advertising IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Veritaas Advertising IPO FAQs

What is Veritaas Advertising IPO?

Veritaas Advertising is issuing 744,000 equity shares with a face value of 10 each, totaling up to ₹8.48 Cr. The shares are being offered at a price of ₹109 to ₹114 each, with a minimum order quantity of 1200 shares.

Mas Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Veritaas Advertising IPO will open?

Veritaas Advertising will open on May 13, 2024 for QIB, NII, and Retail Investors.

When Veritaas Advertising IPO will end?

Veritaas Advertising will end on May 15, 2024.

What is Veritaas Advertising IPO Size?

Veritaas Advertising IPO size is 8.48 Cr.

What is Veritaas Advertising IPO Price Band?

Veritaas Advertising price band is ₹109 to ₹114 per share.

What is the Veritaas Advertising IPO Allotment Date?

Veritaas Advertising allotment date is May 16, 2024.

What is the Veritaas Advertising IPO Listing Date?

Veritaas Advertising listing date is May 21, 2024. The IPO is to be listed on BSE and NSE.

How to Veritaas Advertising IPO through Zerodha?

To apply for the IPO “Veritaas Advertising” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Veritaas Advertising IPO through Upstox?

To apply for the IPO “Veritaas Advertising” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Veritaas Advertising IPO Allotment Status?

For Veritaas Advertising IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Veritaas Advertising IPO GMP?

You can check out here: Veritaas Advertising IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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