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CashurDrive Marketing Limited, a green media publicity services provider in India, announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company’s initial public offering comprises a fresh issuance of 35,42,400 equity shares and an offer for sale of up to 11,37,600 equity shares, each with a face value of Rs 10, through the book-building route. The offer for sale is by selling shareholder Parveen K Khanna.
According to DRHP, CashurDrive intends to utilize Rs. 27 crore of the total proceeds from the IPO to fund its working capital requirements and plans to use the remaining capital for general corporate purposes.
The Noida-headquartered company’s portfolio includes transit media, outdoor media, digital wall painting media, events and promotion, and digital marketing services, all woven into a cohesive strategy aimed at reducing carbon footprints.
The company’s eco-friendly initiatives have secured advertisement rights on 1100 EV buses, coupled with strategic agreements to establish EV charging stations with advertising rights, showcasing CashurDrive’s commitment to sustainable practices. The company has secured orders from CREST and HITES for setting up 112 EV charging stations and battery swapping stations for 10 years with advertisement rights on the stations.
One of the standout features of CashurDrive’s approach is its partnership with CashurDrive Electric Vehicles, solidifying its leadership in the emerging market of ESG-compliant green media advertising. Through this alliance, CashurDrive holds an additional 77 outdoor advertisement opportunities on EV charging and battery swapping stations, making a total of 189 EV charging stations and swapping stations, a testament to its dedication to clean energy and sustainable green media.
Corporate Capital Ventures is the exclusive book-running lead manager to the offer, and Bigshare Services Private is the registrar.
CashurDrive’s accreditation with the Indian Newspaper Society (INS) and registration with DAVP and the government of various states shows its commitment to delivering high-quality services in the advertising industry. With its branches strategically located at Chandigarh, Lucknow, Mumbai and Noida, CashurDrive has established a strong network of clients across India through which it serves its customers across several sectors such as pharmaceuticals, education, electronics, automobiles, FMCG, apparel, insurance, housing, hospitals, financial services, aviation, and government organizations.
Founded in 2009 by an IIT alumnus Raghu Khanna, CashurDrive initially focused on commercial vehicles like transit space, later expanding into a full-service advertising agency including outdoor, TV, print ads, bus branding, auto hood branding, digital wall painting, billboard advertising, and outdoor campaigns.
The company has been dedicated to advertisements, eMobility, and EV infrastructure. This includes strategic partnerships with various charge point operators (CPOs), which solidify its leadership in the emerging market of EV advertising.
CashurDrive registered Rs. 102.63 crore in revenue from operations with a profit (PAT) of Rs. 11.83 crore in the fiscal year 2023-24, compared to Rs. 81.89 crore in revenue from income and a profit (PAT) of Rs. 5 crore in FY2022-23.
