Century Business Media
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 3.51×
- Big non-institutionalbNII · above ₹10 lakh
- 0.59×
- Small non-institutionalsNII · ₹2–10 lakh
- 0.04×
- Retail individualRII · up to ₹2 lakh
- 0.11×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 13 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 12 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 11 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 10 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 09 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 08 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
| 07 Sept 2026 | ₹0 | 0.00% | ₹0 | ₹74 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 11 Sept 2026 – 16 Sept 2026
- Listing date
- 21 Sept 2026
- Face value
- ₹10 per share
- Price band
- ₹70 – ₹74
- Lot size
- 1,600 shares
- Sale type
- Fresh capital
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹17.11 Cr
- Fresh issue
- ₹16.24 Cr 21,95,200 shares
- Offer for sale
- ₹0 Cr 0 shares
- Market cap at offer price
- ₹64.83 Cr
- Promoter holding
- 100.00% → 73.61% pre-issue → post-issue
- ISIN
- INE16VF01010
- CIN
- U73100BR1999PLC009001
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- 107, Emarat Firdaus Exhibition Road, Patna, Bihar, India, 800001
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 4,38,400 | 28.45% | 26.45% |
| Anchor investor · within QIB | 6,54,400 | — | 39.48% |
| NII (HNI) | 3,31,200 | 21.50% | 19.98% |
| bNII > ₹10L · within NII | 2,20,800 | — | 13.32% |
| sNII < ₹10L · within NII | 1,10,400 | — | 6.66% |
| Retail (RII) | 7,71,200 | 50.05% | 46.53% |
| Employee | 0 | — | 0.00% |
| Market maker | 1,16,800 | — | 7.05% |
| Total issue | 16,57,600 | — | 100.00% |
Net offer to the public of 15,40,800 shares, out of a total issue of 16,57,600. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 1,600 shares per lot, in multiples, at ₹74
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,18,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,36,800 |
| S-HNI (max) | 8 | 12,800 | ₹9,47,200 |
| B-HNI (min) | 9 | 14,400 | ₹10,65,600 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹74 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.61 | 6.34 |
| P/E (×) | 8.59 | 11.67 |
| Price to book (×) | 2.65 | — |
| Market cap | — | ₹64.83 Cr |
Key performance indicators
Latest reported period, consolidated
- Return on net worth
- 30.83%
- ROCE
- 30.06%
- Debt / equity
- 0.44
- PAT margin
- 11.96%
- EBITDA margin
- 18.47%
- NAV per share
- ₹27.94
- Price to book
- 2.65
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Consolidated ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 46.76 | 36.91 | 32.27 |
| Revenue from operations | 46.43 | 36.65 | 32.03 |
| Other income | 0.32 | 0.26 | 0.23 |
| Total expenses | 39.29 | 30.55 | 27.38 |
| Operating profit | 7.47 | 6.36 | 4.89 |
| Operating margin | 15.98% | 17.23% | 15.15% |
| Profit before tax | 7.46 | 6.37 | 4.89 |
| Profit after tax | 5.56 | 4.71 | 3.69 |
| PAT margin | 11.89% | 12.76% | 11.43% |
| Balance sheet | |||
| Total assets | 31.28 | 22.37 | 21.24 |
| Current assets | 19.41 | 14.05 | 13.95 |
| Current liabilities | 7.42 | 6.72 | 8.45 |
| Total liabilities | 13.25 | 9.9 | 12.85 |
| Net worth | 18.02 | 12.47 | 8.38 |
| Current ratio | 2.62× | 2.09× | 1.65× |
| Return on equity | 30.85% | 37.77% | 44.03% |
| Cash flow | |||
| Operating cash flow | 6.05 | 5.4 | 0.16 |
| Investing cash flow | -4.31 | -2.35 | -1.52 |
| Financing cash flow | 1.62 | -3.25 | 1.65 |
| Net cash flow | 3.35 | -0.2 | 0.29 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding Capital Expenditure towards Purchase of Media Assets ₹4.21 Cr
The company proposes to utilize proceeds for acquisition and deployment of static and digital outdoor media assets across railway stations, airports, and city-based locations including hoardings, unipoles, lollypop, LED screens, and other display formats.
2 Payment of Security Deposit for advertising rights at Patna Airport ₹3.77 Cr
The company intends to utilize proceeds towards payment of future tranches of security deposits to the Airports Authority of India in connection with the award of advertising rights at Patna Airport.
3 Repayment of certain borrowing availed by the Company ₹1.45 Cr
The company proposes to utilize proceeds towards full or partial repayment or pre-payment of certain borrowings availed from UCO Bank, which include term loans facility to reduce interest burden and overall indebtedness.
4 To meet Working Capital requirements ₹3.25 Cr
The company intends to utilize proceeds to meet working capital requirements as the business is working capital intensive, with the company funding majority of working capital requirements from internal accruals.
5 General Corporate Purpose —
The company's management will have flexibility in utilizing proceeds for general corporate purposes including meeting operating expenses, initial development costs for projects, and strengthening business development and marketing capabilities.
1 of 5 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Century Business Media
The company is an advertising services provider established in 1999, primarily focused on Out-of-Home (OOH) media formats including digital and non-digital solutions. The company operates in Airport Out-of-Home (AOOH), Railway Out-of-Home (ROOH), and Metro Out-of-Home (MOOH) segments, offering advertising spaces within and outside airport terminals, railway stations, and metro stations. The company has operational presence across Bihar, Jharkhand, West Bengal, and North Eastern states, holding exclusive advertising rights at five airports and 714 railway stations under the East Central Railway zone.
Management
Shashi Kumar Chaudhary
MD
Seema Chaudhary
CEO
Strengths
As stated in the offer document
Diversified revenue from clients at multiple locations and geographies in India
The company serves clients across Bihar, Delhi, Jharkhand, West Bengal, Maharashtra, Uttar Pradesh, Karnataka and other states with ability to offer multiple OOH formats to address market-specific demands.
Access to Strategic Advertising Rights Across Multiple Media Assets
The company holds exclusive advertising rights at five airports and covers 714 railway stations under Eastern Central Railway zone, with multi-format approach providing flexibility and wider market reach.
Experience of our Promoters and senior management team
The company is led by Shashi Kumar Chaudhary with approximately 26 years of experience including 16 years in outdoor advertising industry, supported by experienced management team.
Focus on Customer Satisfaction and Execution Capabilities
The company emphasizes meeting client-specific advertising requirements through effective media planning, timely execution, and creative support with ability to deliver campaigns as per client expectations.
Strong Client Retention and Repeat Business
The company has developed repeat business with clients across various sectors through client engagement process involving target audience identification, location preferences, and suitable advertising formats.
Risk factors
As stated in the offer document
Dependence on Government Concession and Licensing Agreements
The company derives a significant portion of revenues from concession, licensing, and marketing agreements granted by government authorities including AAI, Indian Railways, and Metro authorities. These agreements are typically awarded through competitive bidding for fixed terms of 3-10 years, and renewal is not automatic but subject to re-bidding where competitors may offer more favorable terms.
Geographic Concentration Risk
The company's operations are predominantly concentrated in Bihar (35.56% of revenue), Jharkhand (21.19%), Delhi (15.43%), and West Bengal (9.16%) for FY 2025-26. This geographic concentration exposes the company to region-specific economic, political, regulatory risks, and operational challenges that cannot be offset elsewhere.
Minimum Monthly Guarantee Payment Obligations
Certain concession agreements require the company to pay fixed Minimum Monthly Guarantees (MMG) to granting authorities regardless of actual revenue generated. If actual revenue falls short of MMG, the company must fund shortfalls from internal resources or borrowings, putting pressure on liquidity and profitability.
Substantial Security Deposit Requirements
The company's concession agreements require substantial non-interest bearing security deposits held by granting authorities as performance security. Failure to perform obligations or delays in payment could result in forfeiture of deposits, materially reducing cash reserves and adversely affecting liquidity and reputation with authorities.
High Working Capital Requirements and Receivables Risk
The company requires significant working capital with trade receivables of ₹1415.80 lakhs as of March 31, 2026. The business is exposed to risks of delayed payments, defaults, or disputes with clients, which could negatively impact liquidity, operational efficiency, and ability to meet financial obligations.
Dependence on Limited High-Revenue Contracts
A significant portion of revenue is derived from a limited number of high-value advertising rights and concession contracts at key airports and railway zones. Any inability to retain, renew, or secure these contracts could materially reduce revenue and adversely affect financial condition and results of operations.
Peer comparison
The comparable listed companies named in the offer document, as on 31 Mar 2026
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Century Business Media THIS ISSUE | 8.61 | 27.94 | 11.67, computed at the offer price | 2.65, computed at the offer price | 30.83% |
| 12.26 | 85.03 | 29.48 | 4.25 | 12.96% | |
| 13.14 | 54.44 | 20.55 | 5.00 | 24.13% | |
Simca Advertising Limited | 18.88 | 24.24 | 12.75 | 10.00 | 57.24% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.