Stellar debut: Veritaas Advertising lists at 141% premium on NSE SME platform

The , which was completely a fresh equity issue of 7.44 lakh shares, received bumper subscription from investors with an overall response of over 600 times at close.

The net proceeds from the public offer will be used for funding capital expenditure towards setting up new police booths, Pole Kiosks for setting up traffic signal point display and other general corporate purposes.

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Veritaas is an integrated advertising agency offering 360-degree services across multiple platforms. It owns advertisement spaces in West Bengal, Guwahati and Shillong, thereby making it one of the few media owning marketing and advertising agencies.

The company also operates in Delhi, Mumbai and Pune. It advertises in police booths and outdoor hoardings, which reduces the dependence on third parties and enables us in offering integrated services.

Its advertising services enables the clients to monetize their marketing collaterals and generate and acts as a differentiator compared to other players in respective markets.

With content at its heart, the company claims to build creative stories around brands to enhance their ROI. Working across various offline platforms, its expertise includes strategizing, building compelling conversations to increase a brand’s influence and reach the desired target audience.

The Indian advertising market size reached Rs 74300 crore in 2022. Looking forward, expects the market to reach Rs 1.41 lakh crore by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

For the period ended February 10, 2024, the company clocked revenues of Rs 9.03 crore and net profit of Rs 1.56 crore.

acted as the lead manager to the issue and was the registrar.