Bright Outdoor Media Ltd.’s Rs. 55.48 Crore SME IPO Opens for Subscription on March 14

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
• For H1FY23 ended Sep 2022, company reported revenues of Rs. 45.2 crore, Net Profit of Rs. 4.2 crore
• Shreni Shares Pvt Ltd is the lead manager of the issue.

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. 55.48 crore 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.

Mr. Yogesh Lakhani, Chairman and Managing Director, Bright Media Outdoor Ltd.

The initial public offering will comprise a fresh issue of 38 lakh 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. 55.48 crore. 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 company’s striking advertising portfolio includes Billboards, Street furniture, Transit Media, and Ambient. 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. 12.41 crore for repayment/prepayment of certain borrowings, Rs. 13.10 crore for the purchase of LED hoardings, Rs. 18.26 crore for working capital, and Rs. 11.10 cr. for general corporate purposes. Post Issue the share capital of the company will increase to Rs. 13.93 crore from Rs. 10.13 crore before the public issue. Promoters and Promoters Group holds 99.99% stake in the company. Post-IPO promoter group holding will be 72.72%.

For the FY21-22 company reported revenues of Rs. 50.90 crore and Net Profit of Rs. 2.59 crore. For 6 months ended, 30 September 2022, company reported revenue of Rs. 45.18 crore and Net Profit of Rs. 4.20 crore.

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. The company’s array of service hoardings includes Transfer stickers, Railway boards, Railway panels, Promos, full train, Bus panels, Full Bus painting, Toll Naka, Mobile sign trucks, Kiosks, Traffic Booths, Cinema slides, Gantry and Vinyl. Alongside Out-of-Home (OOH) Advertising and offering novel communication services to clients, the company also engages in offering 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. Insurance, Financial service providers, Entertainment Industries, Construction, Jewellery, Aviation, Education, 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 33 years.