Adcounty Media India Ltd IPO
Status: Closed
Overview
IPO date
27 Jun 2025 to 01 Jul 2025
Face value
₹ 10 per share
Price
₹ 80 to ₹85 per share
Issue Size
5,963,200 shares
(aggregating up to ₹ 50.69 Cr)
(aggregating up to ₹ 50.69 Cr)
Allotment Date
02 Jul 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
Objectives of Adcounty Media India Ltd IPO
Initial public offering up to 59,63,200 equity shares of Rs. 10/- each ("Equity Shares") of Adcounty Media India Limited ("AMIL" or the "Company") for cash at a price of Rs. 85/- per equity share (the "Issue Price"), aggregating to Rs. 50.69 crores ("The Issue"). Out of the issue, 3,36,000 equity shares aggregating to Rs. 2.86 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 56,27,200 equity shares of face value of Rs. 10/- each at an issue price of Rs. 85/- per equity share aggregating to
Rs. 47.83 crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.50% and 25.01%, respectively of the post issue paid up equity share capital of the company.
Adcounty Media India Ltd IPO Strategy
About Adcounty Media India Ltd
Adcounty Media India Limited was originally incorporated as a Private Limited Company in the name and style of 'Adcounty Media India Private Limited' dated May 03, 2017, issued by the Registrar of Companies, Central Registration Centre. Subsequently, the Company was converted into a Public Limited Company and name was changed to 'Adcounty Media India Limited' and a fresh Certificate of Incorporation dated May 28, 2024, was issued by Registrar of Companies, Central Processing Centre.
Adcounty Media India is a BrandTech company focused on providing end-to-end solutions to brands, that cover everything from branding to performance optimisation. It leverage the latest technologies to serve a diverse range of clients across various industries. The firm empowers client-base with customized advertising solutions that are designed and developed through the lenses of customers.
The business is divided into two verticals, Advertising Technology, wherein, the Company employ a host of tools and resources such as our in-house applications and websites, SMS marketing, Email marketing and a Programmatic tool amongst others, to reach audiences,
deliver and measure digital advertising campaigns. Secondly, Digital Marketing, wherein, it utilises various platforms such as websites, social media, search engines, messaging including WhatsApp and mobile apps to reach potential customers.
Apart from this, the Company operates in multiple websites across various verticals, offers mobile apps, and provides a Programmatic tool called BidCounty, designed to enhance performance and branding campaigns of clients. Further, to help brands with the right user acquisition, it conduct thorough market research and deliver robust ad solutions.
The main object of the Company is to provide the best set of Digital media solutions and leverage technological advancements to help brands identify, target, acquire and retain the right audience for their products/services. Their adaptive and performance-driven solutions bridge the gap between demand and supply creating a judicious balance for both advertisers and publishers.
The Company is planning an Initial Public Offering of 59,62,800 Fresh Issue Equity Shares.
Unlock Stock of the Month
T&C*
Strengths vs Risks of Adcounty Media India Ltd
Know the pros & cons
Strengths
Technology Driven Business Model.- Cordial relations with its customers.
- Quality Deliverables.
Risks
- The present promoters of the Company are first generation entrepreneurs.
- The company has had negative cash flows in the past and may continue to have negative cash flows in the future.
- Companies may delay or reduce their spending on marketing in periods of economic uncertainty, which could
materially harm its business.
- Its restated financial statements have been prepared by a Peer Reviewed Chartered Accountants which is
different from the company Statutory Auditor.
- Its Registered Office and other branches from where the company operate are not owned by it. If the company is required to
vacate the same or if the company is unable to renew its current leases, due to any reason whatsoever, it may adversely
affect its business operations.
- Certain legal proceedings are pending against its Corporate Promoter and individual promoters. While these
proceedings does not involve the Company, any adverse development may impact our reputation and business
operations.
- The company depends on a limited number of customers for a significant portion of its revenues. The loss of a major
customer or significant reduction in demand from any of the company major customers may adversely affect its business,
financial condition, results of operations and profitability.
- The company has experienced a dip in its revenue from operations in the past and may experience further growth
downfall or unable to manage an efficient growth rate.
- The Company is involved in certain legal proceedings/litigations. Any adverse decision in such proceedings may
render it/them liable to penalties and may adversely affect its business and result of operations.
- Majority of its state-wise revenues for the last 3 years is derived from Haryana, Karnataka and Maharashtra.
Any adverse developments affecting its operations in these states could have an adverse impact on the company revenue
and results of operations.
- Its success depends largely upon the services of the company Directors, Promoters and other Key Managerial Personnel
and its ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and
the company inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
- Its may be required to enter into strategic partnerships and acquisitions in the future, in relation to the company growth
strategy. If the company is unable to successfully identify and integrate acquisitions, its growth strategy and prospects
may be adversely affected.
- There may be potential conflict of interests between the Company, its Group Company and other venture or
enterprises promoted by its promoter or directors (the company Promoter Group Companies).
- Its proposed capital expenditure relating to development of websites and applications is subject to the risk of
unanticipated delays in implementation and cost overruns.
- The company operate in highly competitive markets and its inability to compete effectively may lead to lower market
share or reduced operating margins, and adversely affect the company results of operations.
- Its proposed capital expenditure relating to development of software is subject to the risk of unanticipated
delays in implementation and cost overruns. Changes in technology and modernization may render its current
technologies or newly developed technologies obsolete or require it to make substantial investments again.
- The company operations requires significant amount of working capital for its smooth day to day operations
and continuing growth of business. Any discontinuance or its inability to procure adequate working capital
timely and on favorable terms may have an adverse effect on the company operations, profitability, and growth prospects.
- The Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non compliances
/ lapses may attract penalties and prosecution against the Company and its directors which could
impact the financial position of the Company to that extent.
- The Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act,
Income Tax and other applicable laws in previous years.
- The company does not have long-term contracts with our suppliers i.e. platform owners, website owners, application owners
etc., where the company advertise and/or publish its digital marketing campaigns and therefore there may be potential
unavailability of platforms or spaces where the company advertise its content, which may adversely affect the company business
operations.
- Its profitability and business operations are significantly dependent on the company ability to successfully anticipate
the industry and client requirements. Any failures on its part to do so may have an impact on the company operations,
which could have an adverse effect on its revenue, reputation, financial conditions, results of operations and
cash flows.
- The Company has entered into certain related party transactions in the past and may continue to do so in the
future.
- Failures in IT systems and infrastructure supporting our system and operations could significantly disrupt its
operations and have a material adverse effect on its business, results of operations, cash flows and financial
condition. Additionally, our success hinges on the company ability to innovate, upgrade, and adapt to new technological
advancements.
- Its may not be able to prevent unauthorised use of trademarks obtained/ applied for by third parties, which may
lead to the dilution of the company goodwill.
- Any inability to comply with advertising laws and other regulatory requirements in relation to its Digital
Marketing offering and other functions may adversely affect its business, financial condition, and results of
operations.
- The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
- Changes in technology may render its current technologies obsolete or require us to make substantial
investments which would have an adverse effect on its business, result of operations.
- Its insurance coverage in connection with the company business may not be adequate and may adversely affect its
operations and profitability.
- The Company's operation and growth is dependent upon successful implementation of its business strategies.
- Cybersecurity threats continue to increase in frequency and sophistication. A successful cybersecurity attack
could interrupt or disrupt its information technology systems, softwares, websites, applications or cause the loss
of confidential or protected data, which could disrupt its business, force us to incur excessive costs or cause
reputational harm.
- In addition to normal remuneration, other benefits and reimbursement of expenses, some of its Directors
(including the company Promoters) and Key Management Personnel are interested in the Company to the extent of their
shareholding and dividend entitlement in the Company.
- Its contingent liabilities as stated in the company Restated Financial Statements could adversely affect its
financial conditions.
- If the company experience delays and/or defaults in client payments, its may be unable to recover all expenditures.
- Its Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company
the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage or
accurately report the company financial risk.
- Its inability to effectively manage project execution may lead to project delays which may affect the company business
and results of operations.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and
U.S. GAAP, which may be material to investors' assessments of the financial condition, result of operations and
cash flows.
- Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements,
including prior shareholders' approval.
- The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
- The Company has not paid any dividends in the past 3 financials years and its ability to pay dividends in the
future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Industry information included in this Red Herring Prospectus has been derived from industry reports from
various websites. The reliability on the forecasts of the reports could be incorrect and would significantly impact
its operations.
- The Company's future funding requirements, in the form of further issue of capital or other securities and/or
loans that might be availed by it, may turn out to be prejudicial to the interest of the shareholders depending
upon the terms and conditions on which they are raised.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
- There are certain restrictions on daily movements in the price of Equity Shares, which may adversely affect a
shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity
Shares may not develop.
- Market price of its share will be decided by market forces and issue price of equity share may not be indicative
of the market price of the company share price after the issue.
Adcounty Media India Ltd Peer Comparison
Understand the company’s industry standing
Adcounty Media India Limited
Affle 3i Limited
DAPS Advertising Limited
Face Value
10
2
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
---
---
---
EPS-Basis
8.37
8.24
2.29
EPS-Diluted
---
---
---
NAV Per Share
---
---
---
P/E-Basic EPS
---
65.26
9.83
P/E-Diluted EPS
---
---
---
RONW(%)
47.28
1.6
1.83
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Adcounty Media India Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 27 Jun 2025 & closes on 01 Jul 2025.
Adcounty Media India Limited was originally incorporated as a Private Limited Company in the name and style of 'Adcounty Media India Private Limited' dated May 03, 2017, issued by the Registrar of Companies, Central Registration Centre. Subsequently, the Company was converted into a Public Limited Company and name was changed to 'Adcounty Media India Limited' and a fresh Certificate of Incorporation dated May 28, 2024, was issued by Registrar of Companies, Central Processing Centre.
Adcounty Media India is a BrandTech company focused on providing end-to-end solutions to brands, that cover everything from branding to performance optimisation. It leverage the latest technologies to serve a diverse range of clients across various industries. The firm empowers client-base with customized advertising solutions that are designed and developed through the lenses of customers.
The business is divided into two verticals, Advertising Technology, wherein, the Company employ a host of tools and resources such as our in-house applications and websites, SMS marketing, Email marketing and a Programmatic tool amongst others, to reach audiences,
deliver and measure digital advertising campaigns. Secondly, Digital Marketing, wherein, it utilises various platforms such as websites, social media, search engines, messaging including WhatsApp and mobile apps to reach potential customers.
Apart from this, the Company operates in multiple websites across various verticals, offers mobile apps, and provides a Programmatic tool called BidCounty, designed to enhance performance and branding campaigns of clients. Further, to help brands with the right user acquisition, it conduct thorough market research and deliver robust ad solutions.
The main object of the Company is to provide the best set of Digital media solutions and leverage technological advancements to help brands identify, target, acquire and retain the right audience for their products/services. Their adaptive and performance-driven solutions bridge the gap between demand and supply creating a judicious balance for both advertisers and publishers.
The Company is planning an Initial Public Offering of 59,62,800 Fresh Issue Equity Shares.
Adcounty Media India Ltd IPO will close on 01 Jul 2025.
- Technology Driven Business Model.
- Cordial relations with its customers.
- Quality Deliverables.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Chandan Garg | 1440900 | 8.71 | 1440900 | 6.41 |
| 2 | Aditya Jangid | 2893007 | 17.49 | 2893007 | 12.86 |
| 3 | Abbhinav Rajendra Jain | 2893007 | 17.49 | 2893007 | 12.86 |
| 4 | Delphin Varghese | 2891406 | 17.48 | 2891406 | 12.85 |
| 5 | Vartika Dangayacha | 606779 | 3.67 | 606779 | 2.7 |
| 6 | Innovana Thinklabs Ltd | 4002500 | 24.2 | 4002500 | 17.79 |
| 7 | Kapil Garg | 9600 | 0.06 | 9600 | 0.04 |
| 8 | Himanshu Jangid | 4800 | 0.03 | 4800 | 0.02 |
- The present promoters of the Company are first generation entrepreneurs.
- The company has had negative cash flows in the past and may continue to have negative cash flows in the future.
- Companies may delay or reduce their spending on marketing in periods of economic uncertainty, which could materially harm its business.
- Its restated financial statements have been prepared by a Peer Reviewed Chartered Accountants which is different from the company Statutory Auditor.
- Its Registered Office and other branches from where the company operate are not owned by it. If the company is required to vacate the same or if the company is unable to renew its current leases, due to any reason whatsoever, it may adversely affect its business operations.
- Certain legal proceedings are pending against its Corporate Promoter and individual promoters. While these proceedings does not involve the Company, any adverse development may impact our reputation and business operations.
- The company depends on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of the company major customers may adversely affect its business, financial condition, results of operations and profitability.
- The company has experienced a dip in its revenue from operations in the past and may experience further growth downfall or unable to manage an efficient growth rate.
- The Company is involved in certain legal proceedings/litigations. Any adverse decision in such proceedings may render it/them liable to penalties and may adversely affect its business and result of operations.
- Majority of its state-wise revenues for the last 3 years is derived from Haryana, Karnataka and Maharashtra. Any adverse developments affecting its operations in these states could have an adverse impact on the company revenue and results of operations.
- Its success depends largely upon the services of the company Directors, Promoters and other Key Managerial Personnel and its ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and the company inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
- Its may be required to enter into strategic partnerships and acquisitions in the future, in relation to the company growth strategy. If the company is unable to successfully identify and integrate acquisitions, its growth strategy and prospects may be adversely affected.
- There may be potential conflict of interests between the Company, its Group Company and other venture or enterprises promoted by its promoter or directors (the company Promoter Group Companies).
- Its proposed capital expenditure relating to development of websites and applications is subject to the risk of unanticipated delays in implementation and cost overruns.
- The company operate in highly competitive markets and its inability to compete effectively may lead to lower market share or reduced operating margins, and adversely affect the company results of operations.
- Its proposed capital expenditure relating to development of software is subject to the risk of unanticipated delays in implementation and cost overruns. Changes in technology and modernization may render its current technologies or newly developed technologies obsolete or require it to make substantial investments again.
- The company operations requires significant amount of working capital for its smooth day to day operations and continuing growth of business. Any discontinuance or its inability to procure adequate working capital timely and on favorable terms may have an adverse effect on the company operations, profitability, and growth prospects.
- The Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
- The Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act, Income Tax and other applicable laws in previous years.
- The company does not have long-term contracts with our suppliers i.e. platform owners, website owners, application owners etc., where the company advertise and/or publish its digital marketing campaigns and therefore there may be potential unavailability of platforms or spaces where the company advertise its content, which may adversely affect the company business operations.
- Its profitability and business operations are significantly dependent on the company ability to successfully anticipate the industry and client requirements. Any failures on its part to do so may have an impact on the company operations, which could have an adverse effect on its revenue, reputation, financial conditions, results of operations and cash flows.
- The Company has entered into certain related party transactions in the past and may continue to do so in the future.
- Failures in IT systems and infrastructure supporting our system and operations could significantly disrupt its operations and have a material adverse effect on its business, results of operations, cash flows and financial condition. Additionally, our success hinges on the company ability to innovate, upgrade, and adapt to new technological advancements.
- Its may not be able to prevent unauthorised use of trademarks obtained/ applied for by third parties, which may lead to the dilution of the company goodwill.
- Any inability to comply with advertising laws and other regulatory requirements in relation to its Digital Marketing offering and other functions may adversely affect its business, financial condition, and results of operations.
- The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
- Changes in technology may render its current technologies obsolete or require us to make substantial investments which would have an adverse effect on its business, result of operations.
- Its insurance coverage in connection with the company business may not be adequate and may adversely affect its operations and profitability.
- The Company's operation and growth is dependent upon successful implementation of its business strategies.
- Cybersecurity threats continue to increase in frequency and sophistication. A successful cybersecurity attack could interrupt or disrupt its information technology systems, softwares, websites, applications or cause the loss of confidential or protected data, which could disrupt its business, force us to incur excessive costs or cause reputational harm.
- In addition to normal remuneration, other benefits and reimbursement of expenses, some of its Directors (including the company Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Its contingent liabilities as stated in the company Restated Financial Statements could adversely affect its financial conditions.
- If the company experience delays and/or defaults in client payments, its may be unable to recover all expenditures.
- Its Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report the company financial risk.
- Its inability to effectively manage project execution may lead to project delays which may affect the company business and results of operations.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors' assessments of the financial condition, result of operations and cash flows.
- Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- The Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
- The Company has not paid any dividends in the past 3 financials years and its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Industry information included in this Red Herring Prospectus has been derived from industry reports from various websites. The reliability on the forecasts of the reports could be incorrect and would significantly impact its operations.
- The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by it, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
- There are certain restrictions on daily movements in the price of Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Market price of its share will be decided by market forces and issue price of equity share may not be indicative of the market price of the company share price after the issue.
The Issue type of Adcounty Media India Ltd is Book Building - SME.
The minimum application for shares of Adcounty Media India Ltd is 1600.
The total shares issue of Adcounty Media India Ltd is 5963200.
Initial public offering up to 59,63,200 equity shares of Rs. 10/- each ("Equity Shares") of Adcounty Media India Limited ("AMIL" or the "Company") for cash at a price of Rs. 85/- per equity share (the "Issue Price"), aggregating to Rs. 50.69 crores ("The Issue"). Out of the issue, 3,36,000 equity shares aggregating to Rs. 2.86 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 56,27,200 equity shares of face value of Rs. 10/- each at an issue price of Rs. 85/- per equity share aggregating to
Rs. 47.83 crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.50% and 25.01%, respectively of the post issue paid up equity share capital of the company.
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