Veritaas Advertising Ltd IPO Timeline

Veritaas Advertising Ltd IPO opens on 13-May-2024, and closes on 15-May-2024. The Veritaas Advertising Ltd IPO bid date is from 13-May-2024 to 15-May-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Veritaas Advertising Ltd IPO Opening Date 13-May-2024
Veritaas Advertising Ltd IPO Closing Date 15-May-2024
Basis of Allotment 16-May-2024
Initiation of Refunds 17-May-2024
Credit of Shares to Demat 17-May-2024
Veritaas Advertising Ltd IPO Listing Date 21-May-2024

Veritaas Advertising Ltd IPO Lot Size

Veritaas Advertising Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 136800).

Application Lots Shares Amount
Minimum 1 1200 ₹136800
Maximum 1 1200 ₹136800

Veritaas Advertising Ltd IPO Details

Veritaas Advertising Ltd IPO Date 13-May-2024 to 15-May-2024
Veritaas Advertising Ltd IPO Face Value Shares of ₹10 per share
Veritaas Advertising Ltd IPO Price ₹109 to ₹114 per share
Veritaas Advertising Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹8.48 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹8.48 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Debojyoti Banerjee, Mina Debnath, Sangita Debnath.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding the capital expenditure towards setting up of new Police Booth in West Bengal, Assam, Maharashtra and Delhi
  • 2 Funding the capital expenditure in Pole Kiosks for setting up of traffic signal point display in Kolkata, Mumbai and Pune
  • 3 General Corporate Purposes

Company Financials

Veritaas Advertising Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 9.82 10.36 1.70
03-2023 5.29 7.87 0.43
03-2022 2.69 3.39 0.13
Amount in ₹ Crore
  • Fully integrated service portfolio offering result-oriented solutions.
  • Geographical presence.
  • Diverse customer base spread across various industries.
  • Well experienced management team with proven project management and implementation skills.
  • Infrastructure to support innovative and quality solutions.
  • Meeting expectation of clients and maintaining long term relationship with clients.
  • Marque Clientele.
  • Advertising business is dependent on availability of space or sites for publishing of ads. Any significant increase in the prices of such ad space or sites or nonavailability of such ad space or sites may adversely affect its business and results of operations.
  • The company significantly relies on police booth display for advertisement, and any interruption or nonavailability of such ad space or sites may adversely affect its business and results of operations.
  • The company relies on its workshop for fabrication and printing of advertisement material, and any interruption or delay in service from its workshop could impair its ability to execute the orders of the company customers.
  • The commercial success of its services depends to a large extent on the success of the success of its end use customers. If there is any downturn in the industries in which its customers operate, it could have a material adverse effect on its business, financial condition and results of operations.
  • The company depends on a few customers of its services, for a significant portion of the company revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company's business and results of operations.
  • The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
  • There can be no assurance that the objects of the Issue will be achieved within the time frame anticipated or at all, or that the deployment of the Net Proceeds in the manner intended by it will result in any increase in the value of your investment. Further, the plan for deployment of the Net Proceeds has not been appraised by any bank or financial institution.
  • The company intend to utilise a portion of the Net Proceeds for funding its capital expenditure requirements of the Company. The company is yet to place orders for such capital expenditure materials.
  • If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on the company business, results of operations and financial condition.
  • Its Registered Office, its workshop and the company regional offices are located on premises which are not owned by it and has been obtained on lease basis. Disruption of its rights as licensee/ lessee or termination of the agreements with its licensors/ lessors would adversely impact the company operations and, consequently, its business, financial condition and results of operations.
  • There have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to RoC.
  • Its business and prospects may be adversely affected if the company is unable to maintain and grow the image of its brand.
  • Majority of its state-wise revenues from operations for the last 3 years are dependent majorly on West Bengal. Any loss of business from may adversely affect its revenues and profitability.
  • If the company is unable to attract new clients or its existing clients does not renew their contract, the growth of its business and cash flows will be adversely affected.
  • The company may be unable to respond to changes in consumer demands and market trends in a timely manner.
  • There are outstanding litigations involving the Company and its Promoter which, if determined adversely, may affect its business and financial condition.
  • Any delays and/or defaults in payments could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operation and financial condition.
  • The Company requires significant amount of working capital for a continuing growth. Its inability to meet the company's working capital requirements may adversely affect its results of operations.
  • The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of the company's business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if its face failure of the company information technology systems, its may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
  • If the Company is unable to protect its intellectual property, or if the Company infringes on the intellectual property rights of others, its business may be adversely affected. In the event, the Company is unable to enforce its rights on the assigned intellectual property, it could have a material impact on its goodwill, business operations, financial condition and results of operations.
  • The company operates in a competitive business environment and its inability to compete effectively may adversely affect its business, results of operations, financial condition and cash flows.
  • Its Promoter, Directors, Key Managerial Personnel and Senior Management have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
  • Its Promoters have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
  • The average cost of acquisition of Equity Shares held by its Promoter could be lower than the Issue Price.
  • Its future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
  • The company has in past entered into related party transactions and its may continue to do so in the future.
  • Our Promoters have extended personal guarantees and personal properties as collateral security with respect to various loan facilities availed by our Company. Revocation of any or all of these personal guarantees may adversely affect our business operations and financial condition.
  • Its agreements with lenders for financial arrangements contain restrictive covenants for certain activities and if the company is unable to get their approval, it might restrict the company scope of activities and impede its growth plans.
  • In addition to its existing indebtedness for the company existing operations, its may incur further indebtedness during the course of business. The company cannot assure that its would be able to service its existing and/ or additional indebtedness.
  • The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the 'Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • Its success largely depends upon the knowledge and experience of the company Promoter, Directors, its Key Managerial Personnel and its Senior Management. Loss of any of the company Directors and key managerial personnel or its ability to attract and retain them could adversely affect its business, operations and financial condition.
  • Its lenders have charge over the company movable and immovable properties in respect of finance availed by it.
  • Relevant copies of documents in relation to the experience of its Directors, Key Managerial Personnel and Senior Management are not traceable.
  • The Company has availed certain unsecured loans which may be recalled at any time.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • Any variation in the utilisation of the Net Proceeds or in the terms of any contract as disclosed in the Draft Red Herring Prospectus would be subject to certain compliance requirements, including prior shareholders' approval.
  • The requirement of funds in relation to the objects of the Issue has not been appraised.
  • Its inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the company operations and profitability.
  • Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
  • The company has not independently verified certain data in this Draft Red Herring Prospectus.
  • The requirements of being a listed company may strain its resources.
  • The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
  • There is no existing market for its Equity Shares, and the company do not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develop and the price of the Equity Shares may be volatile.
  • The price of the Equity Shares may be highly volatile after the Issue.
  • You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchase in the Issue.
  • There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
  • The price of the Equity Shares may be volatile, which could result in substantial losses for investors acquiring the Equity Shares in the Issue.
  • Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoter or members of its Promoter Group may adversely affect the trading price of the Equity Shares.
  • Sale of Equity Shares by its Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
  • The approval for installation of Police Booth and Traffic Signal Post are issued by the Police Department, and the installation has to be completed within a time period of 1 month from the date of approval. If the installation is not completed within 1 month, the approval becomes invalid and no new approval is issued to a company which fails to complete the installation within the prescribed timeline.
  • There have been instances of delays in payment of statutory dues, i.e. GST by the Company. In case of any delay in payment of statutory due in future by the Company, the Regulatory Authorities may impose monetary penalties on it or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
  • There have been instances of delays in payment of statutory dues, i.e. EPF by the Company. In case of any delay in payment of statutory due in future by the Company, the Regulatory Authorities may impose monetary penalties on it or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
  • Investment in advertisement through police booth.
  • Strengthen its business by venturing into unchartered territories within India.
  • Expand its customer base across all its business verticals.
  • Focusing on Increasing Process Services & consistency in operating practices.
  • Marketing Strategy.
  • Growing its business with existing clients with quality and efficient services.
  • Competitive Pricing.

Veritaas Advertising Ltd IPO Promoter Holding

Pre Issue Share Holding 88.74%
Post Issue Share Holding 65.36%

Veritaas Advertising Ltd IPO Subscription Status (Bidding Detail)

The Veritaas Advertising Ltd IPO is subscribed 445.4258 times on May 15, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 445.4258

Veritaas Advertising Ltd IPO Prospectus

Veritaas Advertising Ltd IPO Listing Date

Listing Date 21 May 24
BSE Script 92871
NSE Symbol VERITAAS
Listing In NSE - SME
ISIN INE0SRI01019
IPO Price ₹114
Face Value ₹10

Veritaas Advertising Ltd IPO Registrar

Mas Services Limited

Phone: +91 112 6387281/83,1141 320335
Email: ipo@masserv.com
Website: www.masserv.com

Veritaas Advertising Ltd IPO Lead Manager(s)

  1. Horizon Management Pvt Ltd

FAQs on Veritaas Advertising Ltd IPO

Veritaas Advertising Ltd IPO, which opens for subscription from 13-May-2024 to 15-May-2024 has an issue size of ₹8.48 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Veritaas Advertising Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Veritaas Advertising Ltd IPO Opens for subscription from 13-May-2024 to 15-May-2024.

The lot size of Veritaas Advertising Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136800 and ₹136800 respectively.

Allotment date for Veritaas Advertising Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 17-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.

The registrar for Veritaas Advertising Ltd IPO is Mas Services Limited. You can check your IPO allotment status on the registrar's website.

The shares of Veritaas Advertising Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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