Value 360 Communications IPO: Day One Subscription Rate Lags at 3%

Value Communications' IPO Opens for Subscription

Value Communications, a strategic communications and integrated marketing firm, has opened its initial public offer (IPO) for subscription on Monday, 4 May. The SME IPO will remain available for bidding till Wednesday, 6 May.

Established in 2009, Value 360 Communications operates in the strategic communications and integrated marketing domain. The company provides a wide range of services, including public relations, investor relations, crisis communication, reputation management, digital campaigns, influencer marketing, and content-driven branding solutions. Its clientele features brands like Kia Corporation, Anheuser-Busch InBev, CashKaro, and Experion, among others.

The company has a workforce of over 180 professionals across three offices in India and runs an asset-light business model based on retainer and project-based engagements. Value Communications is looking to raise ₹41.69 crore through a mix of fresh issue and an offer for sale.

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

IPO Details

The SME IPO has been subscribed 0.03 times so far on the first day of bidding as of 1:35 pm. The shares of Value Communications IPO are commanding a premium of ₹0 in the grey market, with an estimated listing price likely to be the same as the IPO price of ₹98, according to Investorgain.

The offering includes a fresh issue of around 0.38 crore shares worth ₹37.53 crore, along with an offer for sale of 0.04 crore shares amounting to ₹4.16 crore. Retail investors can apply for a minimum of 2,400 shares, which translates to an investment of about ₹2.35 lakh at the upper end of the price band, while HNIs need to invest at least ₹3.52 lakh.

Read also: Zepto Nears $1 Billion Quarterly Net Order Value Milestone Before IPO

The proceeds from the IPO will be utilised for working capital needs, tech-driven expansion into content production, repayment of debt, and boosting its stake in influencer marketing platform ClanConnect. The allotment of Value Communications IPO will be finalised on Thursday, May 7. Meanwhile, the shares of Value Communications IPO will be listed on NSE SME, with a tentative listing date fixed as May 11.

Horizon Management Pvt. Ltd. is acting as the book-running lead manager, while Kfin Technologies Ltd. is the registrar for the issue. Aikyam Capital Pvt. Ltd. will serve as the market maker.