Bright Outdoor Media IPO GMP Today, Share Price, Lot Size, Allotment
Bright Outdoor Media IPO GMP Today, Share Price, Lot Size, Allotment and other details are in this article. Bright Outdoor Media Limited, a Mumbai-based outdoor advertising firm, has launched its initial public offering (IPO) with a price band of Rs. 146 per share.
Bright Outdoor Media IPO GMP Today
The company is looking to raise Rs. 55.48 crores from the public issue. The net proceeds from the issue will be used to meet working capital requirements, repay/prepay borrowings, and meet general corporate purposes. The company’s grey market premium (GMP) is currently recorded at -10 Rs per share.
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Bright Outdoor Media Limited is engaged in the business of providing outdoor media solutions such as hoardings, digital signage, transit media, and more. It primarily caters to the advertising needs of the FMCG, automobile, banking, and finance sectors.
Bright Outdoor Media IPO Share Price
The initial public offering (IPO) of Bright Outdoor Media, a leader in the outdoor advertising industry, saw a strong debut in the market. On its first day, the company‘s GMP closed at Rs 136, which is Rs 10 lower than the IPO price. The opening performance is not so strong, but it is expected to reflect the strong demand for the company‘s shares, driven by its strong market position, compelling growth opportunities, and attractive valuation.
Investors have been drawn to Bright Outdoor Media‘s broad portfolio of digital and traditional outdoor advertising solutions, which cater to a wide range of customers. The company also has a proven track record of delivering consistent revenue growth, which is expected to continue going forward. All in all, the Bright Outdoor Media IPO will be a success, with the share price reflecting investor confidence in the company‘s future prospects.
Bright Outdoor Media IPO Lot Size
Bright Outdoor Media is an Indian outdoor media solutions provider. It recently filed for an initial public offering with the Securities and Exchange Board of India (SEBI). The IPO lot size is defined as the minimum number of shares that can be purchased in the IPO. The lot size for Bright Outdoor Media’s IPO is fixed at 1000 shares. This means that investors can purchase a minimum of 1000 shares and a maximum of 1000 only.
The lot size for the IPO is fixed in order to ensure that the offering is accessible to small investors as well as large investors. Therefore, the minimum investment one can make in the IPO is ₹146,000. The IPO of this company is currently open and will close on March 17, 2023. The allotment will be finalised on 22nd March, and the refund will be initiated on 23rd March. On the 24th, the stocks will be transferred to the demat account, and the listing will be done on the 27th of March.
Bright Outdoor Media IPO Allotment
Bright Outdoor Media Ltd. will complete its Initial Public Offering on 17 March, and the listing will be done on the Bombay Stock Exchange (BSE). The company will allot 3,800,000 equity shares to the public at a price of Rs. 140 each. The IPO is oversubscribed by 0.05 times. The IPO is managed by a group of merchant bankers, which included IDBI Capital Markets and Securities, JM Financial Consultants and Trust Investment Advisors.
Bright Outdoor Media Ltd. is engaged in the business of outdoor advertising. The company provides innovative outdoor advertising solutions across the country. The proceeds of the IPO will be utilized for advertising and marketing activities, setting up new offices and general corporate purposes. Listing the company’s shares will enable it to raise capital for its growth plans.
Indian Company Bright Outdoor Media IPO Details
The issue consists of a fresh issue of up to 3,800,000 equity shares of face value Rs. 10 each and an offer for the sale of the complete equity shares by the selling shareholder. The price band of the issue is Rs. 136 to Rs. 146 per equity share. The issue will close on March 17, 2023. The company proposes to utilize the net proceeds of the fresh issue to meet the working capital requirements and for general corporate purposes.
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The equity shares of the company are proposed to be listed on the BSE and the NSE. The company provides outdoor advertising media solutions for various brands, corporations and government institutions across all major cities in India.
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