Company to issue 38,00,000 Equity shares of Rs. 10 face value at a price of Rs. 146 per share; To list on BSE-SME Exchanges
| Highlights:-
· Public issue opens for subscription from March 14 and closes on March 17 · Minimum lot size for application is 1,000 shares; Minimum IPO application amount Rs. 1.46 lakh · Funds raised through the issue will be used to for prepayment/repayment of certain borrowings, purchase of LED hoardings, funding working capital requirements and general corporate purposes · Our Company’s revenue from operations Rs 4496.55 lakhs, Rs 5046.12 lakhs, Rs 2403.66 lakhs ad Rs 7054.75 lakhs, for the period ended September 30, 2022 and for the financial year ended March 31, 2022, 2021 and 2020 respectively and Net Profit of Rs 419.69 lakhs, Rs 259.20 lakhs, Rs 108.22 lakhs and Rs 171.24 lakhs, respectively for the period ended September 30, 2022 and for the financial year ended March 31, 2022, 2021 and 2020. · Shreni Shares Pvt Ltd is the lead manager of the issue. · Readers are advised to refer to the Prospectus carefully, before making an investment decision. |
Mumbai, March 13, 2023: Public issue of Bright Outdoor Media Ltd – engaged in the business of providing advertising media services consisting Out of Home (OOH) media services is scheduled to open for subscription on March 14. Company is planning to raise Rs. 5,548.00 lakhs for prepayment/repayment of certain borrowings, purchase of LED hoardings, funding working capital requirements and general corporate purposes. Last date for subscribing for the public issue is March 17. Shreni Shares Pvt Ltd is the lead manager of the issue. Company’s shares will be listed on the BSE SME Exchange Platform.
The initial public offering will comprise a fresh issue of 38,00,000 equity shares of face value Rs. 10 each at a price of Rs. 146 per share (including a premium of Rs. 136 per equity share) aggregating upto Rs. 5,548.00 lakhs. Minimum lot size for the application is 1,000 shares which translates in to Rs. 1.46 lakh per application.
Sharing more details, Mr. Yogesh Lakhani, Chairman and Managing Director, Bright Media Outdoor Ltd said, “We are committed to bring excellence to Out-of-Home advertising through product innovation, robust designs, unparalleled services and strategic locations. Our array of service hoardings includes Railway boards, Railway panels, Transfer stickers, Cinema slides, Promos, full train, Bus panels, Full Bus Wrap, Mobile Van, Kiosks, Traffic Booth, Gantry and Vinyl. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality services.”
Out of the issue proceeds, company will utilize Rs. 1241.09 lakhs, for repayment/prepayment of certain borrowings, Rs. 1310.18 lakhs for the purchase of LED hoardings, Rs. 1,826.53 lakhs for working capital, and Rs. 1,109.60 lakhs for general corporate purposes. Post Issue the share capital of the company will increase to Rs. 1,392.87 lakhs crore from Rs. 1,012.87 lakhs before the public issue. Promoters and Promoters Group holds 99.99% stake in the company. Post-IPO promoter group holding will be 72.72%.
(Rs. in lakhs other than share data)
| Particulars | For the period ended September 30, 2022 | For the year ended March 31 | ||
| 2022 | 2021 | 2020 | ||
| Share Capital | 1,012.87 | 1,012.87 | 506.44 | 506.44 |
| Net worth | 4,091.65 | 3,679.47 | 3,435.19 | 3,349.77 |
| Total Revenue | 4518.46 | 5089.71 | 2494.88 | 7151.29 |
| Profit after Tax | 419.69 | 259.20 | 108.22 | 171.24 |
| Earnings per share (Basic & diluted) (₹) | 4.14 | 2.56 | 1.07 | 1.69 |
| Net Asset Value per Equity Share (₹) * | 40.40 | 36.33 | 33.92 | 33.07 |
Incorporated in 2005, Bright Outdoor Media Limited is engaged in the business of providing advertising services offering advertising media services consisting of Out of Home (OOH) media services. Our array of service hoardings includes Railway boards, Railway panels, Transfer stickers, Cinema slides, Promos, full train, Bus panels, Full Bus Wrap, Mobile Van, Kiosks, Traffic Booth, Gantry and Vinyl. Apart from Out-of- Home (OOH) Advertising and providing various novel communication solutions to clients, our Company also offers services assuring multicultural and ethnic Outdoor Advertising campaigns that engage audiences and achieve impact, for every creative need, idea and budget.
The client domain of Bright Outdoor mainly revolves around corporate clients operating in various business fields viz. Entertainment Industries, Construction, Education, Jewellery, Insurance, Financial service providers, Aviation, Government Organizations etc. The company has been included in the World Book of Records, 2022 for receiving 2000 felicitations, 5000 awards internationally and owing 1000 clients in the field of entertainment industry, corporate sector and FMCG for 43 years.
| IPO Highlights – Bright Outdoor Media Limited | |
| IPO Opens on | March 14, 2023 |
| IPO Closes on | March 17, 2023 |
| Issue Price | Rs. 146 Per Share |
| Issue Size (No of Shares) | 38,00,000 Shares |
| Issue Size (Rs. Cr) | Rs. 5,548.00 lakhs |
| Lot Size | 1,000 Shares |
| Retail Quota | 18,03,000 shares |
| Non-Retail Quota | 18,03,000 shares |
| Listing on | SME Platform of BSE Ltd |
BRIGHT OUTDOOR MEDIA LIMITED is proposing, subject to market conditions and other considerations, public issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Mumbai, Maharashtra on March 03, 2023. The Prospectus is available on the website of the Lead Manager at www.shreni.in, the website of the BSE i.e., www.bsesme.com, and website of our Company at www.brightoutdoor.com.
Investor should read the Prospectus carefully, including the Risk Factors on page 27 of the Prospectus before making any investment decision.
