By: M4G Bureau
Last updated : March 21, 2023 11:09 am
The public issue is pivotal to the OOH firm’s growth plans
The stock of OOH company Bright Outdoor Media Ltd is scheduled for listing on the BSE SME platform on March 24, 2023, following the Initial Public Offering (IPO). The Rs 55.48-crore public issue of the company was subscribed 1.27 times.
The proposed public issue will be pivotal to the company’s onward growth journey including investments in DOOH media assets. Earlier, in an interview with Media4Growth and Outdoor Asia, Yogesh Lakhani, CMD, Bright Outdoor Media had said: “After successfully publicising the effectiveness of OOH advertising and providing various novel communication solutions to clients, Bright Outdoor Media will continue to offer an abundance of futuristic services and solutions to the clients.”
Promoters and Promoters Group holds a 99.99% stake in the company. Post-IPO promoter group holding will be 72.72%. “We want to thank all our investors who have put their trust in our public issue. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality services,” said Yogesh Lakhani in a statement made to the media.