IPO Details

Bidding Dates

13 May '24 - 15 May '24

Minimum Investment

₹1,36,800/ 1 Lot (1200 shares)

Price Range

₹109 - ₹114

Maximum Investment

₹1,36,800/ 1 Lot (1200 shares)

Retail Discount

To be announced

Issue Size

₹8.48 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

May 13, 2024

Closing Date

May 15, 2024

Basis of Allotment

May 16, 2024

Initiation of Refunds

May 17, 2024

Credit of Shares to Demat

May 17, 2024

Listing Date

May 21, 2024

Cut-off time for UPI mandate confirmation

May 15, 2024

About Veritaas Advertising Limited

Veritaas Advertising Limited, incorporated on July 31, 2018, stands as a comprehensive advertising agency offering 360-degree services across diverse platforms. The company's expansive reach extends to West Bengal, Guwahati, Shillong, Delhi, Mumbai, and Pune, marking it as one of the few media-owning marketing and advertising agencies.

Specialising in Brand Strategy, Events, and Outdoor (OOH) Media services, Veritaas Advertising Limited facilitates a premium ecosystem for comprehensive advertising solutions. Their offerings include creating brand presence, increasing brand reach and visibility, enhancing brand recall and goodwill, engaging with targeted customers, and boosting sales and conversions.

With a prestigious client base featuring brands like TVS, Honda, Ultratech Cement, and ITC Limited, the company's integrated services have garnered industry-wide recognition. Their strategic approach, diverse service portfolio, and experienced management team ensure effective brand-building and impactful marketing campaigns across various industries and geographies.

Industry Outlook:

  1. The global digital advertising market is projected to grow at a CAGR of 9.2% from 2021 to 2026, driven by increased internet penetration and mobile usage.
  2. In 2023, spending on digital advertising in India is expected to reach $3 billion, with social media and video ads accounting for over 60% of the total.

Veritaas Advertising Limited IPO Details

Veritaas Advertising Limited IPO Dates

Veritaas Advertising Limited IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.

Veritaas Advertising Limited IPO Price Band

Veritaas Advertising Limited is a Fixed Price Issue IPO. The price range per share is set at ₹109 to ₹114.

Veritaas Advertising Limited IPO Lot Size

The lot size for Veritaas Advertising Limited IPO is 1200 shares with a minimum investment of ₹1,36,800.

Veritaas Advertising Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Veritaas Advertising Limited plans to use funds to set up additional police booths in West Bengal, Assam, Maharashtra, and Delhi, expanding advertising reach.
  2. The company aims to allocate funds from IPO for installing traffic signal point displays (Pole Kiosks) in Kolkata, Mumbai, and Pune to enhance brand recall and visibility.
  3. The remaining funds will be utilised for general corporate purposes, such as strategic initiatives, procurement, brand strengthening, and meeting ongoing corporate needs in compliance with regulatory requirements.

Peer Details

The following are the listed peers of Veritaas Advertising Limited:

  1. Crayons Advertising Limited
  2. Maagh Advertising & Marketing Services Limited

How to Check the Allotment Status of the Veritaas Advertising Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Veritaas Advertising Limited IPO

  • Registered office: 38/2A, Gariahat South Road, Dhakuria, Rash Behari Avenue, Kolkata - 700 029, West Bengal, India
  • Phone: +91 33 4044 6683
  • E-mail:info@veritaasadvertising.com

IPO Financials

Particulars As of February 10,2024 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue (in ₹ Lakhs) 786.75 786.75 339.22 234.21
Profit After Tax (PAT) (in ₹ Lakhs) 156.79 43.89 12.58 19.72
Assets (in ₹ Lakhs) 926.51 530.58 269.00 152.32
Net Worth (in ₹ Lakhs) 354.39 89.60 45.71 25.13
Reserves and Surplus (in ₹ Lakhs) 146.49 80.60 36.71 24.13
Total Borrowing (in ₹ Lakhs) 228.17 134.03 74.73 NA

Know before investing


  1. The company boasts a fully integrated service portfolio that delivers result-oriented solutions, ensuring comprehensive advertising and marketing strategies for clients.

  2. With a strategic geographical presence in key markets like West Bengal, Assam, Maharashtra, Delhi, Kolkata, Mumbai, and Pune, Veritaas Advertising Limited can tap into diverse consumer demographics and expand its market share.

  3. The company's diverse customer base across various industries showcases its adaptability and expertise in catering to different market segments. Additionally, maintaining long-term relationships with marquee clients such as TVS, Honda, Ultratech Cement, and others highlights its trustworthiness and quality of service.


  1. The company's advertising business relies heavily on the availability of ad space or sites, mainly police booths. Any increase in prices or nonavailability of such spaces may negatively impact its operations and financial results.

  2. The company's dependence on leased premises for its registered office, workshop, and regional offices exposes it to risks associated with lease renewals. Disruptions in rights as a lessee, and potential early termination could negatively impact its operational capabilities and financial stability.

  3. Veritaas Advertising Limited depends on a few customers for a significant portion of its revenue. Any decrease in sales or revenues from key customers could have adverse effects on its business.

  4. The company's commercial success is closely tied to the industries in which its customers operate. Any downturn or disruption in these industries could lead to reduced demand for advertising services, affecting Veritaas Advertising Limited's financial performance.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Veritaas Advertising Limited IPO FAQs

What is the Veritaas Advertising Limited IPO?

Veritaas Advertising Limited IPO is a Book Built Issue IPO. The IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.

When will Veritaas Advertising Limited IPO be allotted?

The Basis of Allotment will happen on Thursday, May 16, 2024.

When will Veritaas Advertising Limited IPO open for subscription?

The IPO subscription window will open on Monday, May 13, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1200 shares.

When will Veritaas Advertising Limited list on exchanges?

The listing date for Veritaas Advertising Limited IPO is Tuesday, May 21, 2024.

What would be the listing gains on the Veritaas Advertising Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Veritaas Advertising Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Veritaas Advertising Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Veritaas Advertising Limited using one PAN?

You can submit only one application using your PAN card.