DAPS Advertising SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 31 Oct 2022 – 03 Nov 2022
- Listing date
- 14 Nov 2022
- Face value
- ₹10 per share
- Issue price
- ₹30 per share
- Lot size
- 4,000 shares
- Total issue size
- ₹5.10 Cr
- Market cap at offer price
- ₹15.53 Cr
- Promoter holding
- 96.66% → 64.91% pre-issue → post-issue
- ISIN
- INE975Z01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- 128, Clyde House, Office No.9-B, The Mall, Uttar Pradesh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 92,000 | — | — |
Application size
Minimum 4,000 shares per lot, in multiples, at ₹30
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 4,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 8,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 32,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 36,000 | ₹10,80,000 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.14 | — |
| P/E (×) | 9.55 | — |
| Market cap | — | ₹15.53 Cr |
Key performance indicators
- Return on net worth
- 13.09%
- ROCE
- 22.66%
- Debt / equity
- 0.05
- PAT margin
- 5.84%
- NAV per share
- ₹24.01
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About DAPS Advertising SME
DAPS Advertising Limited, incorporated in 1999 and converted to public limited company in 2018, operates as an integrated advertising agency. The company offers a comprehensive range of advertising media services consisting of print media, electronic media and outdoor media services. These services cover advertisement modes such as newspapers, brochures, magazines, television channels, FM channels and display of outdoor hoardings. For the period ended September 30, 2022, the company generated total revenue of Rs 1,466.09 lakhs with profit after tax of Rs 87.62 lakhs. The company derives significant revenue from print media advertisement business, which contributed 88.57% of revenue from operations for the period ended September 30, 2022.
Company Analysis
from RHPDAPS Advertising Limited is an integrated advertising agency offering comprehensive advertising media services including print, electronic, and outdoor media across newspapers, magazines, television, FM radio, and hoardings.
DAPS Advertising Limited, incorporated in 1999 and converted to public limited company in 2018, operates as an integrated advertising agency. The company offers a comprehensive range of advertising media services consisting of print media, electronic media and outdoor media services. These services cover advertisement modes such as newspapers, brochures, magazines, television channels, FM channels and display of outdoor hoardings. For the period ended September 30, 2022, the company generated total revenue of Rs 1,466.09 lakhs with profit after tax of Rs 87.62 lakhs. The company derives significant revenue from print media advertisement business, which contributed 88.57% of revenue from operations for the period ended September 30, 2022.
Objects of the Issue
- Working Capital Requirements Rs 253.00 Lakhs p.21
- General Corporate Purpose Rs 100.00 Lakhs p.21
- Funding working capital requirements ₹253.00 lakhs p.73
- General corporate purposes ₹100.00 lakhs p.73
Issue Structure
- Total Issue
- Rs 510.00 Lakhs (17,00,000 Equity Shares)
- Fresh Issue
- 17,00,000 Equity Shares of Face Value of Rs.10/- each at a price of Rs. 30 per Equity Share aggregating to Rs. 510.00 Lakhs
- Offer for Sale
- N.A.
- Price Band
- Rs. 30 per Equity Share
- Lot Size
- 4,000 Equity Shares and in multiples thereof
- Face Value
- Rs. 10/- each
Business Model
The company operates as an integrated advertising agency providing advertising media services to clients on a purchase order basis. Revenue is generated by placing client advertisements across print media (newspapers, brochures, magazines), electronic media (television channels, FM radio), and outdoor media (hoardings and display sites). The company procures advertising spots, spaces and sites on rent/lease from respective publication houses, radio stations and agencies as required by clients.
Business Segments
SWOT Analysis
- • Integrated advertising agency with comprehensive service offerings(p.21)
- • Significant revenue contribution from print media business(p.28)
- • Positive cash flow from operating activities(p.36)
- • Promoter ownership and long-term involvement(p.49)
- • INS accreditation enhances authenticity and customer confidence(p.95)
- • Promoters' 20+ years of industry experience and strong media relationships(p.96)
- • Strong customer satisfaction and service quality focus(p.96)
- • Recurring customer base through quality service delivery(p.96)
- • Experienced leadership with 20+ years in advertising industry(p.115)
- • INS accredited company with industry recognition(p.169)
- • Award-winning service quality and brand recognition(p.169)
- • Diversified service portfolio across multiple media channels(p.169)
- • Broad client base across diverse industries(p.169)
- • Strong improvement in profitability post-COVID(p.182)
- • Heavy dependence on few customers for revenue(p.34)
- • No long-term contracts with customers(p.33)
- • Group companies incurring losses(p.34)
- • Non-compliance with statutory provisions(p.30)
- • Significant debt burden and loan covenants(p.32)
- • Leased premises with no ownership(p.37)
- • Dependence on key promoters(p.30)
- • Heavy revenue concentration in print media segment(p.96)
- • Statutory non-compliance regarding share transfers(p.67)
- • Small employee base relative to business scale(p.98)
- • High customer concentration risk with limited client base(p.186)
- • Significant accumulated debt obligations(p.141)
- • High receivables ageing with collection delays(p.175)
- • Material related-party transaction dependence(p.166)
- • No formal dividend policy despite being profitable(p.135)
- • High financial indebtedness with limited diversification of funding sources(p.187)
- • Reliance on collateral security dependent on property valuations that may depreciate(p.188)
- • Outstanding GST compliance issues with multiple mismatch notices(p.191)
- • Pending TDS payment defaults across multiple financial years(p.192)
- • Promoter personal tax litigation with pending appeal(p.193)
- • Fast-growing advertising industry in India(p.21)
- • Expansion into new markets and customer segments(p.37)
- • Working capital expansion with IPO proceeds(p.21)
- • Diversify revenue by expanding electronic and outdoor media services(p.96)
- • Invest in CRM and analytics to enhance customer targeting and sales(p.96)
- • Strengthen brand image through quality service delivery(p.96)
- • Indian advertising industry experiencing rapid growth recovery(p.93)
- • Digital advertising segment showing tremendous growth in India(p.94)
- • Expansion through Initial Public Offering for capital growth(p.170)
- • Growth from business revival post-COVID in expanding market(p.182)
- • Diversification potential across multiple media segments(p.169)
- • Leverage multiple service offerings for broader market reach(p.169)
- • Decline of print media and shift to online advertising(p.28)
- • Price volatility in ad space and non-availability(p.28)
- • Intense competition in advertising industry(p.35)
- • Economic slowdown and reduced customer spending(p.43)
- • Foreign exchange volatility(p.41)
- • Natural disasters and external shocks(p.44)
- • Regulatory and policy changes(p.44)
- • Print media advertising experiencing structural decline(p.93)
- • Intense competition from organized and unorganized players(p.98)
- • Global economic slowdown and reduced consumer spending(p.85)
- • Digital media displacement of traditional print advertising(p.94)
- • Significant revenue volatility and cyclical business exposure(p.182)
- • Intense competition from organized and unorganized players(p.170)
- • Price competition pressures from market participants(p.170)
- • Inflation impact on operational costs and margins(p.185)
- • Interest rate risk affecting debt service obligations(p.185)
- • Reliance on macroeconomic conditions and economic cycles(p.185)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Akhilesh Chaturvedi | Promoter | 19.15% | 14.02% |
| Dharmesh Chaturvedi | Promoter | 19.15% | 14.02% |
| Paresh Chaturvedi | Promoter | 15.99% | 11.68% |
| Akhilesh Chaturvedi | Promoter | 19.15% | 12.86% |
| Dharmesh Chaturvedi | Promoter | 19.15% | 12.86% |
| Paresh Chaturvedi | Promoter | 15.99% | 10.74% |
| Akhilesh Chaturvedi | Promoter | 19.15% | — |
| Dharmesh Chaturvedi | Promoter | 19.15% | — |
| Paresh Chaturvedi | Promoter | 15.99% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.