Simca Advertising IPO Day 1: The initial public offer (IPO) of Simca Advertising opened for bidding today, 8 May, and witnessed a decent demand from investors. The SME IPO is available for bidding till Tuesday, 12 May.
Simca Advertising IPO is entirely a fresh issue of 0.32 crore shares worth ₹58 crore, with no offer for sale component. This means that all proceeds will be received by the company.
The company plans to use these funds for the installation of LED screeners, funding collaboration with CWM for monetisation of 20 MED digital advertising screens, financing incremental working capital needs and for general corporate purposes.
Simca Advertising IPO price band has been set as ₹174 to ₹183 per share, with the lot size pegged at ₹600 apiece. Retail investors need to apply for at least 1200 shares, resulting in a payout of ₹2,19,600.
Simca Advertising IPO allotment will be finalised on 13 May, with the listing of shares expected on 15 May on NSE SME.
Simca Advertising IPO GMP
On the first day of the book-building process, Simca Advertising IPO witnessed a sharp spike in the grey market premium (GMP). According to data from investorgain.com, Simca Advertising IPO GMP today is ₹11 from nil a day ago.
At the current GMP, Simca Advertising IPO shares could list at ₹194 apiece, signalling a listing gain of 6%.
Simca Advertising IPO Subscription
So far, Simca Advertising IPO was subscribed 65% on the first day of the bidding process. The SME IPO received bids for 16,63,200 shares as against 25,73,400 shares on offer.
The qualified institutional buyer (QIB) segment was booked the most at 1.84 times, followed by the non-institutional investor (NII) quota at 0.52 times and the retail portion at 0.22 times.
Simca Advertising Details
Simca Advertising, established in 2022, provides advertising services, with a focus on Out-of-Home media in the city of Maharashtra.
The company provides a range of OOH advertising options, including hoardings, gantries, bus panels, shelters, kiosks, utilities, and vinyl signage, to help brands connect with audiences in public spaces.
It has a diversified client base across multiple sectors, including advertising agencies, entertainment, real estate, fashion and lifestyle, insurance, and government organisations.
Socradamus Capital is the book-running lead manager, and MUFG Intime India is the registrar of the issue.
