‘Going public is not just about raising capital; it’s about sustainable, long-term growth’

When an OOH company enters the stock market, the change goes beyond raising capital. For Raghu Khanna, Chairman and Managing Director of CASHurDRIVE Marketing Ltd., the listing has brought a new way of looking at growth, governance, assets and the future of outdoor advertising. 

India’s OOH industry has traditionally been built around physical inventory – billboards, transit spaces and other outdoor formats. But the business is changing. Mobility networks, fleet branding, EV charging points and technology-led media are opening up new opportunities. 

For Raghu, the listing is also a validation of the journey so far. He says, “As an entrepreneur, you spend years convincing people to believe in your vision. Going public is the moment when the market tells you that your journey has earned its confidence. Personally, a public listing is not the destination, it’s proof that your vision has stood the test of time. It gives you the responsibility to think bigger, build stronger, and create lasting value.” 

A new way of thinking 

Going public also raises the bar for an OOH company. Predictable revenues, strong governance, scalable operations and differentiated media assets become critical. “Going public is not just about raising capital; it’s about demonstrating that the business is built for sustainable, long-term growth,” Raghu states.  

The transition also changes the way decisions are made. With public shareholders and greater accountability, the focus moves from short-term wins to long-term value creation. It also creates room for greater investment in technology, proprietary media assets and operational efficiency. 

Transparency as an advantage 

Public markets also bring a higher level of financial and operational disclosure, something that can help an industry often described as fragmented. For advertisers and agencies, this can mean greater confidence in a company’s financial strength, execution and ability to build long-term partnerships. 

“In today’s business environment, transparency has become a competitive differentiator,” Raghu says. He sees more listed OOH companies as a positive for the sector. Better governance, measurement and technology could help outdoor media gain greater credibility among advertisers, investors and policymakers. 

What comes next 

Raghu sees the next phase of OOH emerging at the intersection of mobility, media and infrastructure. For CASHurDRIVE, this means strengthening its proprietary media portfolio and expanding across mobility-led ecosystems, including transit, commercial vehicle branding and green mobility networks. 

However, the road ahead comes with its own challenges. Infrastructure-led media requires capital, while government tenders, changing outdoor advertising policies and long working-capital cycles can affect profitability. 

For Raghu, the listing is therefore not the finish line. It is the foundation for the next stage of the company’s growth. 

Read the full article in the July Edition of Outdoor Asia Magazine.