This article gives information about Bright Outdoor Media IPO, including GMP Today, share price, lot size, allotment, and other data. Outdoor advertising company Bright Outdoor Media Limited, based in Mumbai, has started its initial public offering (IPO) with a price range of Rs. 146 per share.
Bright Outdoor Media IPO GMP Today
Bright Outdoor Media, a leader in the outdoor advertising business, had a good first day on the stock market with its initial public offering (IPO). The company’s GMP ended its first day at Rs 136, Rs 10 less than its IPO price.
Even though the opening performance isn’t that great, it should show that there’s a lot of interest in the company’s stock because of its strong market position, compelling growth chances, and attractive valuation. Bright Outdoor Media’s wide range of digital and traditional outdoor advertising options for many customers has attracted investors.
The company has also shown that it can consistently bring in more money, which will likely continue going forward. Overall, Bright Outdoor Media’s IPO will be a success, and the price of its shares will show how much investors believe in the company’s future.
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Bright Outdoor Media IPO Lot Size
Bright Outdoor Media is an outdoor media company in India that recently filed with the Securities and Exchange Board of India (SEBI) for an initial public offering. The lowest number of shares that can be bought in this IPO is one thousand. This is called the lot of sizes.
This makes sure that both small and large buyers can take part in the offering. The least you can put in the IPO is 146,000. The IPO is now open for business, and it ended on March 17, 2023.
On March 22, the final allocation will be made, and on March 23, returns will begin. On March 24, the stocks will be moved to the Demat account, and on March 27, they will be listed.
How Much is the Bright Outdoor Media IPO Share Price?
Bright Outdoor Media is a major player in the outdoor advertising business. It’s initial public offering (IPO) was a good way to get started in the market. Even though the GMP ended on the first day at Rs 136, which is Rs 10 less than the IPO price, there is still a strong demand for the company’s shares because of its market position, growth prospects, and attractive valuation.
Even though the company’s early performance wasn’t great, its wide range of digital and traditional outdoor advertising solutions has drawn investors from many different industries.
The company’s sales have always gone up, and this is likely to keep happening in the future. Overall, the Bright Outdoor Media IPO is likely to be a success, and the price of its shares shows that investors are optimistic about the company’s future.
Bright Outdoor Media IPO Allotment
Bright Outdoor Media Ltd. will list on the Bombay Stock Exchange (BSE) on March 17, which will be the end of its Initial Public Offering. At Rs. 140 per share, the company will sell 3,800,000 shares of stock to the public. A group of merchant bankers, including IDBI Capital Markets and Securities, JM Financial Consultants, and Trust Investment Advisors, ran the IPO. It was oversubscribed by 0.05 times.
Bright Outdoor Media Ltd. offers innovative outdoor advertising options all over India. The money from the IPO will be used for advertising and marketing, opening new offices, and other general business needs.
By putting its shares on the stock market, the company will be able to raise money for its plans to grow.
Indian Company Bright Outdoor Media IPO Details
The public issue includes a fresh offering of up to 3,800,000 equity shares with a face value of Rs. 10 each, as well as an offer for the complete sale of equity shares by the selling shareholder. The issue’s price range is between Rs. 136 to Rs. 146 per equity share, and it will close on March 17, 2023.
The company plans to utilize the net proceeds from the fresh issue to fulfill its working capital requirements and for general corporate purposes. The equity shares of the company will be traded on both the BSE and the NSE stock markets. Bright Outdoor Media helps brands, corporations, and government agencies in India’s biggest towns with their outdoor advertising needs.
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