Cash Ur Drive Marketing IPO Highlights: The SME IPO Booked 82 Times, What GMP signals?

The public issue of Cash Ur Drive Marketing, an outdoor-media advertising company specializing in vehicle wrap advertising, concluded with a healthy investor interest. The (Initial Public Offer) IPO, was open from July 31 to August 4. It has been subscribed 81.94 times overall, with strong demand across retail, NIIs, and institutional segments. GMP signals a positive listing.

Cash Ur Drive Marketing Subscription Details:

The Cash Ur Drive Marketing IPO received a great response from investors and subscription spoked on the last day with the overall subscription of 81.94 times. The company received around 25.35 crore bids for its shares, while only 30.95 lakh shares were on offer.

Among different investor categories, retail investors subscribed 62.41 times the shares reserved for them, showing healthy interest. Non-Institutional Investors (NIIs) led the demand, with their portion being subscribed 135.23 times, indicating strong confidence in the company.

However, Qualified Institutional Buyers (QIBs) were little cautious, subscribing 76.19 times their allocated quota. Overall, the IPO has attracted encouraging interest, especially from institutional investors.

Cash Ur Drive Marketing IPO GMP:

According to the grey market, the Cash Ur Drive Marketing IPO is generating strong interest. As of 8 PM on August 4, the grey market premium (GMP) is Rs 30 per share. Based on the upper end of the IPO price band of Rs 130, this suggests a possible listing price of Rs 160 per share, which is 23.08% higher than the issue price.

However, it's important to note that GMP is not an official indicator and is based on speculation.

Cash Ur Drive Marketing IPO Details:

Cash Ur Drive Marketing IPO was offering shares through a mix of fresh issue and offer-for-sale. The IPO aims to raise approximately Rs 60.79 crore, with a fresh issue of 44.69 lakh shares worth Rs 58.10 crore and an OFS of 2.07 lakh shares worth Rs 2.69 crore.

Shares were priced between Rs 123 and Rs 130, each with a face value of Rs 10. The listing is scheduled on the NSE SME platform on August 7, following allotment on August 5 and refunds on August 6.

Narnolia Financial Services is handling the IPO as the book-running lead manager, and Bigshare Services is the registrar.

The IPO funds will help the company invest in technology, support working capital, and fund capital expenditures.

Business Overview and Financials:

Cash Ur Drive Marketing, started in July 2009, is an outdoor advertising company that mainly focuses on vehicle wrap ads, turning vehicles into moving billboards.

The company offers complete marketing solutions, including ads on buses, auto rickshaws, billboards, digital wall art, and event promotions. Their goal is to create strong brand visibility using vehicle-based advertising across different cities in India.

They also work in transit media, print, outdoor, and digital advertising, helping businesses connect with their target customers more effectively. The company also promotes electric vehicles and has offices in Chandigarh, Lucknow, Mumbai, and Noida.

For the fiscal year ending March 2025, the company reported revenue of Rs 142.18 crore, a 45% rise from the prior year. Net profit surged to Rs 17.68 crore-up 92%-while EBITDA more than doubled to Rs 20.67 crore.