Latest News | Graphisads Lists on NSE, Opens at Premium
Get latest articles and stories on Latest News at LatestLY. Graphisads Ltd, a leading player in the integrated advertising and communication solutions, on Wednesday listed on the NSE Emerge Platform after a successful intial public offering (IPO) earlier this month.
Mumbai, Dec 13 (PTI) Graphisads Ltd, a leading player in the integrated advertising and communication solutions, on Wednesday listed on the NSE Emerge Platform after a successful intial public offering (IPO) earlier this month.
The stock opened at Rs 111.50, a slight premium over the IPO price of Rs 111, and rose to a high of Rs 112 before paring gains to close at Rs 105.95, according to stock exchange data.
Incorporated in 1987, Graphisads is an integrated marketing, advertising, and communications agency providing 360-degree solutions to its wide array of clients. It provides advertising services on the work orders received by the government sector, private sector and other public sector entities.
Through the IPO, which closed on December 5, the firm raised over Rs 53 crore through issue of 48.12 lakh fresh equity shares of face value Rs 10 each. The shares were listed on the SME platform of the National Stock Exchange (NSE).
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The firm, which had posted a net profit of Rs 5.57 crore on a revenue of Rs 99.05 crore in the 2022-23 fiscal, will use the IPO proceeds to repay certain borrowings, meet working capital requirement and general corporate expenses, according to the offer document.
It's main source of revenue is outdoor advertising (OOH), events-exhibitions and media advertising.
"The funds raised through the IPO will be utilized to enhance Graphisads' capabilities, invest in cutting-edge technologies, and further expand its market presence along with reducing existing debt," a company statement said.
Ashish Chauhan MD & CEO, NSE, singer Anup Jalota, Femina Miss India Runner up Manya Singh, Graphhisads CMD Mukesh Gupta and director Alok Gupta were present at the opening bell.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)