Bright Outdoor Media IPO subscription is opening up on 14th March 2023 till 17th March 2023. According to the prospectus, the IPO consists of a fresh issue of 3,800,000 shares of ₹10 aggregating up to ₹55.48 Cr. There is no offer for sales in the IPO issue. The Equity Shares have a face value of Rs 10 each. The retail allocation is 50% of the total size.
Bright Outdoor Media IPO – The Company Business Description
Bright Outdoor Media is engaged in the business of advertising services. The company mainly offers Out of Home (OOH) media services such as hoardings, promos, etc.
The service hoardings include Railway boards, Railway panels, Transfer stickers, Cinema slides, Promos, full trains, Bus panels, Full Bus painting, Mobile sign trucks, Kiosks, Traffic booths, Toll Naka, Gantry, and Vinyl.
Apart from the above services, the company also offers services assuring multicultural and ethnic Outdoor Advertising campaigns.
The clients of Bright Outdoor Media are mainly from the corporate sector operating in various business fields such as Entertainment Industries, Construction, Education, Jewellery, Insurance, Financial service providers, Aviation, Government Organizations, etc.
Bright Outdoor Media Limited Founders and Leadership team
The company is promoted by Yogesh Jiwanlal Lakhani and Jagruti Yogesh Lakhani. Mr. Yogesh Jiwanlal Lakhani holds an Honorary Doctor of Philosophy from Royal American University in the year 2020. He has over 43 years of experience in the advertising industry. He has been awarded Dadasaheb Phalke Award, in 2022.
Bright Outdoor Media Limited Revenue and Profit
Bright Outdoor Media (India) has recorded a declining revenue trend year over year, The revenue from operation declined to Rs. 5046 lakhs in FY2022 from Rs. 7055 lakhs in Fy2020. EBITDA has also witnessed a declining trend during the same period, though, PAT has shown some resistance.
Bright Outdoor Media IPO Review : Financial Snapshot
| All amounts in INR Lakhs (Year ended March 31) | 2020 | 2021 | 2022 | September 30 , 2022 |
| Revenue Operation | 7054.75 | 2403.66 | 5046.12 | 4496.55 |
| Total Income | 7151.29 | 2494.88 | 5089.71 | 4518.46 |
| EBITDA | 718.33 | 562.96 | 694.50 | 710.32 |
| Profit After Tax | 171.24 | 108.22 | 259.20 | 419.69 |
| Earnings Per equity Share-Diluted | 1.69 | 1.07 | 2.56 | 4.14 |
| Net Cash from Operating Activities | 100.21 | 814.08 | 1,146.72 | 1,142.25 |
| Debt/Equity Ratio | 1.55 | 1.40 | 1.11 | 0.73 |
| RoE Ratio | 0.05 | 0.03 | 0.07 | 0.1 |
| ROCE (%) | 20.82 | 15.81 | 18.52 | 17.23 |
Objective Behind the Bright Outdoor Media IPO
- Out of the net proceeds of this IPO, the company is planning to Prepay/repay certain secured borrowings availed by the Company. Rs.1241.09 lakhs will be spent on that.
- The company will spend Rs.1310.18 lakhs to Purchase LED Hoardings.
- The rest of the net proceeds will be utilized to meet the Working Capital Requirements (Rs.1,826.53 lakhs) and General Corporate Purposes (Rs.1,109.60 lakhs).
Bright Outdoor Media IPO Review: Do you invest?
- Though PAT and PAT margin witnessed growth, revenue from the operation has not improved for Bright Outdoor Media (India) Limited.
- The company is in the hoardings business which has low entry barriers. Any new player can easily enter the business.
- The company does not have a PAN India presence either.
- Debt to equity ratio is quite high over the years.
- Hence, looking at the financials and factors mentioned above, as a retail investor, I would prefer to avoid this SME IPO at the moment.
Bright Outdoor Media IPO Details
| Bright Outdoor Media IPO Details | Bright Outdoor Media IPO Date, Price and other details |
| Bright Outdoor Media IPO Date | Mar 14, 2023 to Mar 17, 2023 |
| IPO Price | ₹146 per share |
| IPO Allotment date | Mar 22, 2023 |
| Refunds Initiation date | Mar 23, 2023 |
| Credit of Shares to Demat Account | Mar 24, 2023 |
| IPO Listing Date | Mar 27, 2023 |
| Offer for Sale | Nil |
| IPO Issue Size (Fresh Issue) | 3,800,000 shares of ₹10 (aggregating up to ₹55.48 Cr) |
| Minimum bid (lot size) For retail investor | 1 lot of 1000 shares Investment of ₹146,000 |
| Maximum bid (lot size) For retail investor | 1 lot of 1000 shares Investment of ₹146,000 |
| Retail Shares Offered | Not less than 50% of the Net Offer |
| Minimum bid (lot size) HNI investor | 2 lot of 1000 shares (2000) Investment of ₹292,000 |
| NII (HNI) Shares Offered | Not less than 50% of the Net Offer |
| Face Value | INR 10 per share |
| Listing on | BSE SME |
| Promoters | Mr. Yogesh Jiwanlal Lakhani and Jagruti Yogesh Lakhani are the promoters |
Bright Outdoor Media IPO: Lead Managers and Contact
| Contact Details | Global Surfaces IPO Lead Managers |
| Bright Outdoor Media Limited 801, 8th Floor, Crescent Tower, Near Morya House, Fame Infinity Mall, Off New Link Road, Andheri (West), Mumbai 400 053 Phone: 022 – 6714 0000 Email: investor@brightoutdoor.com Website: http://www.brightoutdoor.com/ | 1. Shreni Shares Private Limited |
Bright Outdoor Media SME IPO Allotment Status
Bright Outdoor Media SME IPO Allotment status will be available on BIGSHARE SERVICES PRIVATE LIMITED. To know your allotment status, get ready with your PAN number and click on this link. You may also reach out to Phone: +91-22-6263 8200, Email: ipo@bigshareonline.com
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