Cash Ur Drive Marketing sets IPO price at Rs 123-130 a share; public issue to open on Thursday

New Delhi: Cash UR Drive Marketing, an outdoor media advertising company, on Wednesday announced the price band at Rs 123-130 per share for its Rs 61-crore IPO, which will hit the capital markets on July 31.

The initial public offering (IPO) will close on August 4, and the company's shares will be listed on the NSE's SME platform Emerge, the company said in a statement.

The IPO is a mix of fresh issuance of 44.69 lakh equity shares aggregating to Rs 58.10 crore and an offer for sale of 2.07 lakh shares worth Rs 2.69 crore by promoter Parveen K Khanna.

Proceeds from the IPO will be utilised for investment in technology, capital expenditure, funding the working capital requirement and general corporate purposes.

"This IPO marks a significant milestone in our growth journey. The proceeds will enable us to invest in cutting-edge technology, expand our media asset base, and strengthen our operational capabilities across new geographies.

"More importantly, it empowers us to scale our ESG-compliant advertising model, helping brands engage audiences in ways that are both effective and environmentally responsible," Raghu Khanna, MD of CashurDrive Marketing, said.

Incorporated in July 2009, Cash UR Drive Marketing is an OOH (out-of-home) advertising company offering transit, outdoor, print and digital media solutions. It specialises in outdoor advertising, focusing on vehicle wrap advertising as mobile billboards.

The Noida-based company competes with the likes of DAPS Advertising and BSE SME-listed company Bright Outdoor Media.

The company has obtained long-term ad rights with 98 EV charging and battery swapping stations across Delhi, Chandigarh, Dehradun and Agra.

The company reported revenue of Rs 139.32 crore and profit after tax of Rs 17.68 crore in FY25.

Narnolia Financial Services Ltd is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.