This article includes information about Bright Outdoor Media’s initial public offering (IPO), including the share price, lot size, and allotment. The Mumbai-based outdoor advertising company Bright Outdoor Media Limited has released the price range for its first public offering (IPO), at which its shares will be sold.
Bright Outdoor Media IPO GMP
Through this public offering, the company hopes to collect Rs 55.48 crore. Working capital needs, debt repayment or prepayment, and other company uses will all benefit from the net proceeds of the offering. The grey market premium (GMP) for the stock is currently -10 Indian rupees.
Hoardings, digital signage, transit media, and other forms of outdoor advertising are only some of the services offered by Bright Outdoor Media Limited. Advertising for fast-moving consumer goods, automobiles, banks, and financial institutions is its primary focus.
Bright Outdoor Media IPO GMP, a market leader in the outdoor advertising business, made a splash with its initial public offering (IPO). The company’s GMP closed the first day at Rs 136, or 10% below the IPO price. While the initial performance is weak, investors are hopeful that the company’s strong market position, enticing growth potential, and attractive value will translate into increased demand for its shares.
Bright Outdoor Media’s diversified offering of both digital and traditional outdoor advertising solutions has attracted investors. The company has a history of reliable revenue growth, and this trend is anticipated to continue. The share price of Bright Outdoor Media’s first public offering will rise to reflect the confidence of investors in the company’s future potential.
Bright Outdoor Media IPO Lot Size
The Indian company Bright Outdoor Media specializes in outdoor advertising. It has just submitted paperwork to the Securities and Exchange Board of India (SEBI) in preparation for an IPO. The minimal number of shares that can be purchased in an initial public offering is referred to as the “lot size.” Bright Outdoor Media IPO GMP (IPO) has a large size of 1000 shares. This means that the lowest amount an investor may buy is 1,000 shares, and the most they can buy is 1,000 shares.
To make the IPO accessible to both small and large investors, the lot size is set at a fixed amount. As a result, the bare minimum to participate in the IPO is $146,000. This company’s initial public offering (IPO) is live as of today and will remain so until March 17, 2023. On March 22nd, the allocation will be finalized, and on March 23rd, the refund will begin. The listing is scheduled for March 27 after the equities have been moved to the Demat account on March 24.
Bright Outdoor Media IPO Allotment
On March 17th, Bright Outdoor Media Ltd. will go public with a listing on the Bombay Stock Exchange (BSE). The public offering will consist of 3,800,000 shares of the company’s stock at a price of Rs. 140 per share. The initial public offering is 5% oversubscribed. A consortium of merchant bankers, including IDBI Capital Markets and Securities, JM Financial Consultants, and Trust Investment Advisors, is overseeing the initial public offering.
When it comes to outdoor advertising, Bright Outdoor Media Ltd. is where it’s at. The firm offers cutting-edge outdoor advertising strategies for clients all around the United States. The IPO funds will be used for company expansion, including advertising and marketing efforts and the opening of new offices, as well as for general corporate reasons. Capital for the company’s expansion can be raised through the stock market.
Indian Company Bright Outdoor Media IPO Details
A total of 3,800,000 newly issued equity shares with a face value of Rs. 10 will be offered for sale by the selling shareholder. Each equity share in the issue will cost between Rs. 136 and Rs. The last day to purchase shares is March 17, 2023. The net proceeds from the new issue will be used by the company to satisfy working capital needs and for other general corporate purposes.
It is planned that the company’s equity shares be listed on the BSE and the NSE. The firm offers outdoor advertising media solutions for businesses, organizations, and government agencies across all of India’s main metropolitan areas.
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