Veritaas Advertising marks a stellar start on its debut after listing
The company provides comprehensive advertising solutions and media services that encompass brand strategy, events, and outdoor (OOH) media services.
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Advertising company, Veritaas Advertising's shares made a stellar start on its debut after listing at Rs 275. That's a premium of 141.23 percent over the issue price of Rs 114 on the NSE SME platform, according to reports.
Veritaas Advertising IPO subscription period ran from Monday, May 13, until Wednesday, May 15. Veritaas Advertising price band was set between Rs 109 and Rs 114, with a face value of ₹10. Each lot in the Veritaas Advertising IPO had 1,200 shares.
Established in 2018, Veritaas Advertising is one of Kolkata’s leading advertising companies that has over 30 years of experience in the field of outdoor advertising. The company provides comprehensive advertising solutions and media services that encompass brand strategy, events, and outdoor (OOH) media services. It offers OOH advertising in the domain of billboards, pole kiosks, police booths, traffic barriers, bus shelters, etc. It is also responsible for Transit Media advertising like bus and cab advertising.
The company possesses advertising spaces in West Bengal, Guwahati, and Shillong. Additionally, Veritaas operates in Delhi, Mumbai, and Pune.
Veritass Advertising plans to use the net proceeds to finance the capital expenditure for setting up new police booths in West Bengal, Assam, Maharashtra, and Delhi, and for installing pole kiosks with traffic signal displays in Kolkata, Mumbai, and Pune. Additionally, a portion of the proceeds will be allocated for general corporate purposes.
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