The inventory of Bright Outdoor Media Ltd. is scheduled for itemizing on the BSE SME platform on (*24*) 24, 2023 after success of the Initial Public Offering (IPO).
The ₹55.48-crore public situation of the corporate, engaged within the enterprise of offering promoting media companies consisting Out of Home (OOH) media companies, was subscribed 1.27 instances regardless of unstable market circumstances.
Yogesh Lakhani, Chairman and Managing Director, Bright Media Outdoor Ltd. stated, “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.”
Funds raised by way of the difficulty will be used to for prepayment/compensation of sure borrowings, buy of LED hoardings, funding working capital necessities and basic company functions.
The IPO contains a recent situation of 38 lakh fairness shares at a value of ₹146 per share. Post-IPO the promoter group holding will be 72.72%.
