Veritaas Advertising Limited

Company Profile
Company Name Veritaas Advertising Limited
Open Date 13-05-2024
Close Date 15-05-2024
Exchange NSE SME
Lot Size 1200 Shares
Issue Price ₹109 to ₹114 per share
Issue Size 7,44,000 shares
Application Amount ₹1,36,800
Recommendation Avoid
Incorporated on July 31, 2018, Veritas Advertising Limited has its registered office in Kolkata, West Bengal, India. 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. It serves clients like TVS, ITC, Godrej, Bosch, Honda, UltraTech Cement, Greenply and many more. As of January 31, 2023, the company had a total of 71 employees on its payroll.
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Financial Summary in Lakhs

For the Period Ended Mar-21 Mar-22 Mar-23 Feb-24
Total Assets 152.32 269.00 530.58 926.51
Net Assets 25.13 45.71 89.60 354.39
Total Borrowings - 74.73 134.02 228.17
Total Revenue 234.21 339.22 786.75 903.97
Profit After Tax 19.72 12.57 43.89 156.79

Tentative Timeline

Opening Date 13-05-2024
Closing Date 15-05-2024
Basis of Allotment 16-05-2024
Initiation of Refunds 17-05-2024
Credit of Shares to Demat 17-05-2024
Listing Date 21-05-2024

Objects of the Issue

Funding the capital expenditure towards setting up of new Police Booths in West Bengal, Assam, Maharashtra, and Delhi.
Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point displays in Kolkata, Mumbai, and Pune.
General corporate purposes.

Contact Information

Registered Office Veritaas Advertising Limited 38/2A, Gariahat South Road, Dhakuria Rash Behari Avenue Kolkata - 700 029
Phone +91 33 4044 6683

Registrar Details

Name Mas Services Limited
Phone (011) 2610 4142

IPO Reservation

QIB Shares Offered Not more than 49.75%
Retail Shares Offered Not less than 35.14%
NII (HNI) Shares Offered Not less than 15.11%

Shareholding Pattern

Share Holding Pre Issue (Promoters) 88.74%
Share Holding Post Issue (Promoters) 65.36%

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