Bright Outdoor Media’s public issue oversubscribed 1.27 times
The shares of the company will be listed on the BSE SME Platform on March 24
The public issue of Bright Outdoor Media has got an overwhelming response. The Rs 55.48 crore public issue was oversubscribed 1.27 times.
The retail category saw 1.15 times subscription for the public issue while the NII category received bids for 1.39 times of the quote.
The shares of the company will be listed on BSE SME Platform on March 24.
Sharing more details, Yogesh Lakhani, Chairman and Managing Director, Bright Media Outdoor, said: "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."
The initial public offering comprises a fresh issue of 38 lakh equity shares of face value Rs 10 each at a price of Rs 146 per share (including a premium of Rs. 136 per equity share) aggregating up to Rs 55.48 crore. The minimum lot size for the application is 1,000 share, which translates into Rs 1.46 lakh per application.
