Shares of Simca Advertising listed on the NSE SME platform on Friday at a 14.75% discount to the IPO price. The stock opened at Rs 156 apiece against the issue price of Rs 183. The debut was weaker than unlisted market expectations, which had hinted at a flat listing. Ahead of the opening, the grey market premium (GMP) had indicated only a marginal upside despite strong subscription demand.
Simca Advertising's Rs 58 crore IPO was entirely a fresh issue of 31.71 lakh shares. The public issue was subscribed to 80.88 times overall, led by strong interest from qualified institutional buyers and non-institutional investors.
The QIB portion was subscribed to 101.08 times, while the NII segment saw subscription of 81.54 times. The retail investor category was booked 70.9 times.
The IPO had opened for subscription between May 8 and May 12. The company had fixed the price band at Rs 174-183 per share. Ahead of the IPO opening, Simca Advertising raised Rs 8.04 crore from anchor investors on May 7.
Incorporated in 2022, the company operates in the out-of-home (OOH) advertising segment with a focus on Mumbai and Maharashtra markets. Its advertising portfolio includes hoardings, gantries, bus panels, kiosks, shelters and digital signage solutions.
The company currently manages more than 100 OOH media assets across Mumbai including arterial roads, commercial hubs and high-footfall public locations.
Simca Advertising serves clients across sectors including entertainment, real estate, fashion, insurance, lifestyle and government organisations. The company plans to utilise IPO proceeds for purchasing LED screens, funding a strategic collaboration for monetisation of digital advertising assets, meeting working capital requirements and general corporate purposes.
On the financial front, Simca Advertising reported total income of Rs 75.09 crore and profit after tax of Rs 9.98 crore for FY25. For the nine months ended December 2025, the company posted income of Rs 78.16 crore and PAT of Rs 10.68 crore.
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