The listing was just the beginning for Graphis Ads

For Graphis Ads Ltd., the decision to go public was not something that happened overnight. The idea had been discussed within the company for years, but it was only after COVID, when the company was looking at expansion and wanted to raise funds without increasing its banking exposure, that the plan finally came together. 

“Going public was always in our minds. We had explored it a few times and even went through rounds of due diligence with merchant bankers, but it never moved forward. Then, post-Covid, when we were looking at expansion and wanted to raise funds without increasing our banking exposure, everything started falling into place,” said Alok Gupta, Director, Graphis Ads Ltd. 

For Alok, the transition was also closely linked to the way Graphis Ads had been built. Chairman Mukesh Gupta had always insisted on clean books, transparent processes and accountability. Those principles, he believes, eventually became a strength when the company entered the public markets. 

The listing has brought a different level of responsibility. Decisions that were once driven largely by entrepreneurial instinct now have to be looked at from the perspective of governance, profitability and long-term value creation. 

“The moment you become a listed company, your responsibility multiplies because you’re accountable not just to your internal stakeholders but also to an entire community of external shareholders.” 

But according to Alok, one of the biggest changes has been the credibility that comes with being listed. “Decision-making in a private company is definitely faster, but a listed company carries a very different level of trust and credibility.” 

For Graphis Ads, the listing has also opened up a larger view of the OOH market. Alok believes the industry is considerably bigger than conventional estimates suggest, pointing to the amount of business that happens directly between media owners and advertisers and is often not captured in market studies. 

The company has itself expanded considerably since listing. It has nearly doubled its media inventory, moved beyond its traditional Delhi market and increased its focus on digital OOH, which now contributes nearly 50% of its revenue. Today, it operates more than 600 physical units in Delhi, digital networks across five railway stations and media rights across 12 Vande Bharat trains. 

“Going public has fundamentally changed our horizon. We are no longer planning in short business cycles; we’re building with the next 20 to 25 years in mind.” 

For Graphis Ads, the listing was therefore not the end goal. It was the beginning of a much longer journey. 

For the full story, read the full article in the July edition of Outdoor Asia Magazine