Bright Outdoor Media’s IPO oversubscribed

Starry celebrations at BSE listing ceremony

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Bright Outdoor Media
Bright Outdoor Media officials, BSE officials, and other dignitaries at the listing ceremony.

A large number of celebrities, politicians, and film actors were present for the bell-ringing and listing ceremony of leading outdoor advertising agency Bright Outdoor Media at the Bombay Stock Exchange on 27 March 2023.

Bright Outdoor Media’s IPO was subscribed by 1.20 times. The non-institutional investor portion was subscribed 1.27 times and the retail individual investor’s portion was subscribed 1.14 times.

Sudhir Mungantiwar, minister of Cultural Affairs and Forests, Maharashtra, was present as the Chief Guest. Others present included Bright Door CMD Yogesh Lakhani, actors Shekhar Suman, Manoj Joshi, BJP MLC Prasad Lad, advocate Amit Mehta, Parth, Bhavesh, Nidhi from Shreni Shares, and corporate honchos.

The MD and CEO of BSE, Sundararaman Ramamurthy, head of BSE SME Ajay Thakur, and Subramaniam, president of BSE, also attended the event, the company said in a press release.

BSE officials shared how raising Rs. 55 crore in any (SME) IPO at the end of March is a very difficult task. Bright’s IPO was oversubscribed, which was a remarkable achievement and shows the credibility of Yogesh Lakhani.

All the guests were felicitated with a memento and a shawl. Maharashtra Cultural Affairs minister Sudhir Mungantiwar, the chief guest, shared his experience with Yogesh Lakhani in his journey and wished him all the best.

Yogesh Lakhani thanked his parents, wishers, friends, family members, guests, and his staff. “I started working at a very small level and today reached such a milestone. It is a big achievement for all of us and I am happy for the same,” he said. 

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

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