Century Business Media IPO
IPO Open Now
₹2,24,000 / 3,200 shares
Price Range: ₹70 – ₹74 per share
Bidding Dates11 Sept, 2026 – 16 Sept, 2026
Min Investment₹2,24,000
Lot Size1,600
Issue Size₹17.11 Cr.
IPO Overview
IPO Subscription Details
Retail Subscription0.11x
Non-Institutional Buyers (sHNI)0.04x
Non-Institutional Buyers (bHNI)0.59x
Qualified Institutional Buyers (QIB)3.51x
Total Subscription1.14xOver-subscribed
IPO Timeline
IPO Offer Start11 Sept, 2026
IPO Offer Ends16 Sept, 2026
Allotment Finalisation17 Sept, 2026
Refund Initiation18 Sept, 2026
Listing of Shares21 Sept, 2026
IPO Analysis
Strengths
- The company serves clients across Bihar, Delhi, Jharkhand, West Bengal, Maharashtra, Uttar Pradesh, Karnataka and other states with ability to offer multiple OOH formats to address market-specific demands.
- The company holds exclusive advertising rights at five airports and covers 714 railway stations under Eastern Central Railway zone, with multi-format approach providing flexibility and wider market reach.
- The company is led by Shashi Kumar Chaudhary with approximately 26 years of experience including 16 years in outdoor advertising industry, supported by experienced management team.
Risks
- The company derives a significant portion of revenues from concession, licensing, and marketing agreements granted by government authorities including AAI, Indian Railways, and Metro authorities. These agreements are typically awarded through competitive bidding for fixed terms of 3-10 years, and renewal is not automatic but subject to re-bidding where competitors may offer more favorable terms.
- The company's operations are predominantly concentrated in Bihar (35.56% of revenue), Jharkhand (21.19%), Delhi (15.43%), and West Bengal (9.16%) for FY 2025-26. This geographic concentration exposes the company to region-specific economic, political, regulatory risks, and operational challenges that cannot be offset elsewhere.
- Certain concession agreements require the company to pay fixed Minimum Monthly Guarantees (MMG) to granting authorities regardless of actual revenue generated. If actual revenue falls short of MMG, the company must fund shortfalls from internal resources or borrowings, putting pressure on liquidity and profitability.
Objects of the Issue
The company proposes to utilize proceeds for acquisition and deployment of static and digital outdoor media assets across railway stations, airports, and city-based locations including hoardings, unipoles, lollypop, LED screens, and other display formats.
The company intends to utilize proceeds towards payment of future tranches of security deposits to the Airports Authority of India in connection with the award of advertising rights at Patna Airport.
The company proposes to utilize proceeds towards full or partial repayment or pre-payment of certain borrowings availed from UCO Bank, which include term loans facility to reduce interest burden and overall indebtedness.
The company intends to utilize proceeds to meet working capital requirements as the business is working capital intensive, with the company funding majority of working capital requirements from internal accruals.
The company's management will have flexibility in utilizing proceeds for general corporate purposes including meeting operating expenses, initial development costs for projects, and strengthening business development and marketing capabilities.
Yearly Financial Results
Consolidated — ₹ Crores
| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 32.03 | 36.65 | 46.43 |
| Expenses | 27.38 | 30.55 | 39.29 |
| Other Income | 0.23 | 0.26 | 0.32 |
| Total Revenue | 32.27 | 36.91 | 46.76 |
| Profit Before Tax | 4.89 | 6.37 | 7.46 |
| Net Profit | 3.69 | 4.71 | 5.56 |
Balance Sheet
Consolidated — ₹ Crores
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Total Assets | 21.24 | 22.37 | 31.28 |
| Current Assets | 13.95 | 14.05 | 19.41 |
| Fixed Assets | 7.29 | 8.32 | 18.87 |
| Total Equity & Liabilities | 21.24 | 22.37 | 31.28 |
| Total Liabilities | 12.85 | 9.90 | 13.25 |
| Current Liabilities | 8.45 | 6.72 | 7.42 |
| Non Current Liabilities | 4.41 | 3.18 | 5.83 |
| Total Equity | 8.38 | 12.47 | 18.02 |
Cash Flow
Consolidated — ₹ Crores
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Net Cash Flow | 0.29 | -0.20 | 3.35 |
| Investing Activities | -1.52 | -2.35 | -4.31 |
| Operating Activities | 0.16 | 5.40 | 6.05 |
| Financing Activities | 1.65 | -3.25 | 1.62 |
About Century Business Media
The company is an advertising services provider established in 1999, primarily focused on Out-of-Home (OOH) media formats including digital and non-digital solutions. The company operates in Airport Out-of-Home (AOOH), Railway Out-of-Home (ROOH), and Metro Out-of-Home (MOOH) segments, offering advertising spaces within and outside airport terminals, railway stations, and metro stations.
Documents
Source: DRHP
Discussion
Share your thoughts, ask questions, or discuss this IPO with other investors.
No comments yet. Be the first to share your thoughts!
Leave a Comment