Simca Advertising IPO GMP Indicates 17% Listing Gain: Key Details to Consider on Day 3 of Subscription

Simca Advertising IPO Sees Strong Demand on Final Day of Bidding

The initial public offering (IPO) of Simca Advertising, which entered its last day of bidding on 12 May, has seen a strong demand from investors so far. The SME IPO, which had opened for bidding last Friday, 8 May, is looking to raise ₹58.04 crore from investors. The offer is entirely a fresh issue of shares priced at ₹174 to ₹183 apiece.

Investors can apply for the offer in lots of 600 shares. For retail investors, the minimum investment is two lots amounting to ₹2,19,600. The company plans to use the proceeds from the share sale for the purchase and installation of LED scenes, funding strategic collaboration with Capital World Media Services for monetisation of 20 LED advertising screens, meeting incremental working capital needs and general corporate purposes.

IPO Subscription Status

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The allotment for Simca Advertising IPO is slated to be finalised on 13 May, with the listing likely on the NSE SME platform on 15 May. The IPO subscription status shows that Simca Advertising IPO was booked 10.60 times so far on the third day of the bidding process as of 11 am.

The grey market premium (GMP) for Simca Advertising IPO jumped on the final day of subscription, according to data from investorgain.com. Simca Advertising IPO GMP today is ₹31 as against ₹30 on Monday and ₹14 a day before that, signalling growing investor interest in the counter.

Grey Market Premium (GMP)

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At the current GMP, Simca Advertising IPO listing price could be ₹214, suggesting a listing pop of 16.9%. The growing investor interest in the counter is a positive sign for the company's future prospects.

About Simca Advertising

Simca Advertising, established in 2022, provides advertising services, with a focus on Out-of-Home media in the city of Maharashtra. The company provides a range of OOH advertising options, including hoardings, gantries, bus panels, shelters, kiosks, utilities, and vinyl signage, to help brands connect with audiences in public spaces. It has a diversified client base across multiple sectors, including advertising agencies, entertainment, real estate, fashion and lifestyle, insurance, and government organisations.

Socradamus Capital is the book-running lead manager, and MUFG Intime India is the registrar of the issue.