| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 11.96 | 49.30 | 74.94 |
| Expenses | 9.84 | 41.59 | 61.60 |
| Other Income | 0.00 | 0.00 | 0.15 |
| Total Revenue | 11.96 | 49.30 | 75.09 |
| Profit Before Tax | 2.11 | 7.72 | 13.49 |
| Net Profit | 1.57 | 5.78 | 9.98 |
Simca Advertising
Simca Advertising IPO
₹2,08,800
0.64 xOver-subscribedBidding Dates 08 May, 26 -12 May, 26
Min Investment ₹2,08,800
Lot Size600
Price Range ₹174 – ₹183
Issue Size ₹58.04 Cr.
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IPO Subscription Details
Retail Subscription Details
0.22 x
Non-Institutional Buyers (sHNI)
0.17 x
Non-Institutional Buyers (bHNI)
0.67 x
Qualified Institutional Buyers (QIB)
1.84 x
Total0.64 x
0.64 x IPO Timeline
IPO Offer Start
08 May,26
IPO Offer Ends
12 May,26
Allotment Finalisation
13 May,26
Refund Initiation
14 May,26
Listing of Shares
15 May,26
IPO Analysis
Strengths
The company has built a presence in the OOH advertising industry with years of experience and manages a portfolio of over 100 media assets across key locations in Mumbai, providing brands with advertising opportunities that ensure maximum visibility and audience engagement.
The company offers Traditional Outdoor Advertising, Digital Out-of-Home (DOOH) Advertising, and Event Sponsorships & Campaigns, providing diverse advertising formats including billboards, hoardings, LED displays, and interactive screens to meet specific business needs.
The company delivers outdoor advertising solutions that ensure maximum reach, brand recall, and measurable ROI with 24/7 brand visibility, low Cost Per Thousand Impressions (CPM), and higher recall rates outperforming digital and TV ads in brand retention.
Risks
The company operates 29 hoarding sites (59 media slots) subleased from the promoter's proprietorship firm, but these leases cannot be transferred directly due to legal restrictions. The company pays ₹90.00 lakhs per month for these sub-leases, creating operational and financial dependency on the promoter's entity.
The company does not own any advertising infrastructure and operates entirely through leased sites, including significant reliance on the promoter's proprietorship firm. This asset-light model limits long-term control, customization flexibility, and creates structural dependencies that could disrupt revenue generation.
A considerable portion of current assets is tied up in trade receivables due to campaign-based billing cycles and extended client payment terms. Delays in collections can result in working capital mismatches, forcing reliance on internal accruals or short-term borrowings to meet operational requirements.
Objectives
The company intends to purchase and install LED screens at 7 strategically located high-footfall zones across Mumbai to enhance monetization potential, gain control over asset upgrades, enable multiple campaign displays through scheduling, achieve long-term savings in lease costs, and improve return on investment per site.
The company proposes to fund strategic collaboration with CWM for monetization of 20 LED digital advertising screens at Mega Bus Queue Shelters on Western Express Highway, Mumbai, following an asset-light model with 50% profit-sharing arrangement for 10 years.
The company proposes to utilize funds for incremental working capital requirements to support business expansion, manage credit terms extended to clients, advance payments to vendors, seasonal demand variations, upfront government fees, project execution costs, and transition to direct client engagements.
The company proposes to deploy balance proceeds towards general corporate purposes including meeting ongoing general corporate expenses, exigencies and contingencies, and costs/expenses towards meeting certain business requirements, subject to not exceeding 15% of Gross Proceeds or specified limit whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 6.07 | 19.80 | 36.67 |
| Current Assets | 6.07 | 19.78 | 36.04 |
| Fixed Assets | 0.00 | 0.02 | 0.63 |
| Total Equity & Liabilities | 6.07 | 19.80 | 36.67 |
| Total Liabilities | 4.45 | 12.41 | 19.30 |
| Current Liabilities | 4.45 | 12.39 | 19.17 |
| Non Current Liabilities | 0.00 | 0.02 | 0.13 |
| Total Equity | 1.62 | 7.39 | 17.37 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | 0.14 | 2.17 | 2.98 |
| Investing Activities | 0.00 | -0.02 | -0.59 |
| Operating Activities | 0.05 | 2.23 | 3.31 |
| Financing Activities | 0.09 | -0.04 | 0.26 |
About Simca Advertising
The company provides Out-of-Home (OOH) advertising services with a focus on Mumbai and Maharashtra. The company offers a range of OOH advertising solutions including hoardings, gantries, bus side and back panels, bus shelters, kiosks, utilities, and vinyl signage. The company operates a portfolio of over 100 Out-of-Home media assets across...more
Website
Managing DirectorFahim Batliwala
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