{"id":26844,"date":"2024-05-09T16:34:31","date_gmt":"2024-05-09T11:04:31","guid":{"rendered":"https:\/\/marudharchronicle.com\/index.php\/2024\/05\/09\/veritaas-advertising-limited-ipo-opens-on-may-13-2024\/"},"modified":"2024-05-09T16:34:31","modified_gmt":"2024-05-09T11:04:31","slug":"veritaas-advertising-limited-ipo-opens-on-may-13-2024","status":"publish","type":"post","link":"https:\/\/marudharchronicle.com\/index.php\/2024\/05\/09\/veritaas-advertising-limited-ipo-opens-on-may-13-2024\/","title":{"rendered":"Veritaas Advertising Limited IPO Opens on May 13, 2024"},"content":{"rendered":"<div>\n<p><strong>Mumbai (Maharashtra) [India], May 9:<\/strong> Veritaas Advertising Limited,\u00a0an integrated advertising agency offering 360-degree services across various platforms, has announced its plan to go public with an Initial Public Offering (IPO)\u00a0on\u00a0May 13, 2024. The company is aiming to raise\u00a0\u20b9\u00a08.48\u00a0Crores\u00a0at the\u00a0upper band\u00a0through this IPO, with shares set to be listed on the\u00a0NSE Emerge\u00a0platform.<\/p>\n<p>The issue size is Up\u00a0to 7,44,000\u00a0equity\u00a0shares at\u00a0a\u00a0face value of\u00a0\u20b9\u00a010 each.\u00a0<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u2013\u00a0QIB Anchor Portion \u2013 Up To 1,74,000\u00a0Equity Shares<\/p>\n<p>\u2013\u00a0Qualified Institutional Buyers (QIB) \u2013 Up To 1,77,600Equity Shares<\/p>\n<p>\u2013\u00a0Non-Institutional Investors (NII) \u2013\u00a0Up To 1,06,800 Equity Shares<\/p>\n<p>\u2013\u00a0Retail Individual Investors (RII) \u2013\u00a0Up To 2,48,400\u00a0Equity Shares\u00a0<\/p>\n<p>\u2013 Market Maker \u2013\u00a0Up To 37,200 Equity Shares\u00a0<\/p>\n<p>The net proceeds from the IPO will be utilized\u00a0for\u00a0(i) setting up of\u00a0the\u00a0new police booths in West Bengal, Assam, Maharashtra, &amp; Delhi,\u00a0(ii)\u00a0traffic signal point displays in Kolkata, Mumbai, &amp; Pune,\u00a0and\u00a0(iii)\u00a0General Corporate Purposes.\u00a0The bidding for Anchor portion will open on May 10, 2024, the issue\u00a0will\u00a0open for subscription\u00a0for all other category\u00a0from\u00a0May 13, 2024 and closes on May 15, 2024.<\/p>\n<p>The\u00a0Book Running\u00a0Lead Manager to the Issue\u00a0is\u00a0Horizon Management Private Limited.\u00a0The Registrar to the Issue isMAS\u00a0Services Private Limited.<\/p>\n<p>Mr. Debojyoti Banerjee,\u00a0Chairman and\u00a0Managing Director\u00a0of\u00a0Veritaas Advertising Limited\u00a0expressed,\u00a0\u201cVeritaas Advertising Limited is proud to be one of the few media-owning marketing and advertising agencies in the industry. With ownership of advertisement spaces in key regions like West Bengal, Guwahati, and Shillong, as well as operations in major cities such as Delhi, Mumbai, and Pune, we offer 360-degree services across multiple platforms. Our strategic focus includes leveraging police booth advertisements and outdoor hoardings, which reduces our dependence on third parties and enables us to offer integrated services.\u00a0<\/p>\n<p>Looking ahead, we are committed to further strengthening our position as\u00a0one of the\u00a0leading integrated advertising agencies. We have ambitious expansion plans, including the establishment of new offices in Mumbai and Pune, which will enable us to better serve our clients and capitalize on growth opportunities in these key markets. We are exploring new avenues for growth, such as digital advertising and strategic partnerships, which will further enhance our service offerings and drive long-term value creation.\u201d<\/p>\n<p>Mr.\u00a0Manav Goenka,\u00a0President \u2013 Operations\u00a0of\u00a0Horizon Management Private Limited\u00a0said,\u00a0\u201cVeritaas Advertising Limited has positioned itself as a significant player in the advertising industry. Their strategic focus on leveraging police booth advertisements and outdoor hoardings, along with their comprehensive service portfolio, reflects their potential for growth.<\/p>\n<p>Veritaas plans to use the net proceeds to expand its presence in key markets such as West Bengal, Assam, Maharashtra, and Delhi, and to enhance its advertisement space through the fabrication and installation of police booths\u00a0which will help Veritaas in reducing cost for space for advertising, demonstrating their commitment to growth and innovation.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], May 9: Veritaas Advertising Limited,\u00a0an integrated advertising agency offering 360-degree services across various platforms, has announced its plan to go public with&hellip; <\/p>\n","protected":false},"author":1,"featured_media":26845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[656],"class_list":["post-26844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/posts\/26844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/comments?post=26844"}],"version-history":[{"count":0,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/posts\/26844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/media\/26845"}],"wp:attachment":[{"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/media?parent=26844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/categories?post=26844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marudharchronicle.com\/index.php\/wp-json\/wp\/v2\/tags?post=26844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}