Vertoz Advertising IPO oversubscribed 4.24 times
Received Rs.72.47 crore worth of bids against the issue size of Rs. 17.11 crore
The public issue has oversubscribed 4.24 times and has received bids worth of 72.47 crores as against IPO size of 17.11 crore. The reserved portion of non-institutional investors saw subscription of 5.4 times and retail investors portion is subscribed by 3 times. The company has received bids for 42.77 lakh shares in non-institutional segment against 7.92 lakh shares offered and has received bids for 24.34 lakh shares in retail segment against 7.92 lakh shares offered.
The price for public issue of 15.84 lakhs equity shares is fixed at Rs 108 per share. The issue will constitute 25 percent of the post-issue paid-up equity share capital of the company. Vertoz will utilise the funds for funding of working capital requirements and for general corporate purposes. The shares of the company are going to list on NSE Emerge on 24th November 2017.
Vertoz is a programmatic advertising company that offers engaging and innovative advertising and monetization solutions which replaces the traditional methods of media buying and selling of advertisements. Advanced capabilities and programmatic platform (Ingenious Plex) is a highly scalable software platform that powers and optimizes the marketplace for the real-time trading of digital advertising inventory between advertisers and publishers. Vertoz generates revenue from advertisers and publishers who use the solution for the purchase and sale of advertising inventory.
Commenting on the development, Mr Ashish Shah, Founder and CEO said that, "we are delighted that our IPO oversubscribed by 4.24 times. We would like to thank our investors for showing great faith in us. With this support, we are confident that we will achieve greater heights. It also shows the strength & potential of our industry in both domestic and international markets"
Commenting on the development, Mr Hiren Shah, Founder & Chairman said that, "it's great moment for all of us at Vertoz family. We are all equally excited about the investors to ride this new wave of programmatic advertising in both domestic and international markets. We assure all our investors that we will deliver results in line with their expectations with utmost professional and independent management"
About Vertoz Advertising Ltd:
Vertoz is a programmatic advertising company that offers engaging and innovative advertising and monetization solutions which replaces the traditional methods of media buying and selling of advertisement. Vertoz's proprietary technology, advanced capabilities and a programmatic platform is a highly scalable software platform that powers and optimizes the marketplace for the real-time trading of digital advertising inventory between advertisers and publishers. Vertoz call its platform as an "Ingenious Plex – The Complete Advertising and Monetization Suite".
Media Contacts for Vertoz:
Vertoz Public Relations Consultant
Corporate Communications, Vertoz
Contact: +91 9821954264
Sneha.email@example.com Bhanumathi Kurup
Contact: +91 9769194205