Contracts & Investments
Mystery surrounds Leafberry Ads bagging ad rights
The unknown entity recently won the outdoor media rights in Ludhiana city
In a high-decibel OOH business environment in Punjab, the outdoor advertising tender for the city of Ludhiana went to a firm called Leafberry Ads about which very little is known. Media4Growth tried to reach out to the promoters of the firm, but met with little success. The OOH industry leaders too are not aware of the firm.
Further follow-ups resulted in a Ludhiana Municipal Corporation official sharing the detail that the letter of allotment was handed to Shashi Kiran who is on the board of the company.
According to the internet, Leafberry Ads Private Limited is an unlisted private company incorporated on 21 December, 2018 in Ludhiana with a total paid up capital of 6 crore. The company has two directors with no reported key management personnel. The longest serving directors currently on board are Shashi Kiran and Nitesh Garg who were appointed on 21 December, 2018. They have been on the board for 1 months. Nitesh Garg has the largest number of other directorships with a seat in a total of 3 companies including Leafberry Ads, the other two companies are Leafberry Mobiworld Pvt Ltd and Laurels Green Valley Pvt Ltd.
Industry sources suggest that Leafberry Ads was set up principally to wrest the Ludhiana outdoor media contract. The tender was allotted via e-bid.
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