First for OOH: Bright Outdoor Media IPO from March 14-17

The company seeks to enter the DOOH space and position the company in the ‘minds of people, Chief Managing Director Dr. Yogesh Lakhani told e4m

by Tanzila Shaikh
Published: Feb 17, 2023 9:17 AM | 1 min read

Bright Outdoor Media is all set to launch its IPO from March 14-17. This will be the first time an OOH company will be going for an IPO.

In an exclusive chat with e4m, Dr. Yogesh Lakhani, Chief Managing Director, Bright Outdoor Media, said, “We have been in this business since 1980. We want to introduce the company and position it in the minds of people. We want to expand the business since OOH is also going with the digital wave and digital hoarding is costly. We want to enter into DOOH and we want to be a part of that journey.”

“Currently we have been funded by banks. This will be a landmark movement. We want to convert 100 hoardings of Mumbai into DOOH. The investment will be currently in India but we have plans to go abroad as well.”

According to Lakhani, building a DOOH needs an investment of Rs 1.5 to 2 crore. The company is going to dilute 25% stakes with this IPO, he said.

The initial public offering will comprise a fresh issue of 38,00,000 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 upto Rs 5,548 lakh. Minimum lot size for the application is 1,000 shares, which translates into Rs 1.46 lakh per application.

Read more news about Out of Home, Internet Advertising, Marketing, Digital Media, TV Media