Adcounty Media India IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

Adcounty Media India is a BrandTech company focused on providing end-to-end solutions to brands, that cover everything from branding to performance optimisation. They leverage the latest technologies to serve a diverse range of clients spanning across various industries. The firm empowers its client-base with customized advertising solutions that are designed and developed through the lenses of customers. 

Adcounty Media India, an Book Built Issue amounting to ₹ 50.68 Crores, consisting entirely an Fresh Issue of 59.63 Lakh SharesThe subscription period for the Adcounty Media India IPO opens on June 27, 2025, and closes on July 01, 2025. The allotment is expected to be finalized on or about Wednesday, July 02, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Friday, July 04, 2025.

The Share Price Band of Adcounty Media India IPO is set at ₹ 80 to ₹ 85 per equity share. The Market Capitalisation of the Adcounty Media India Limited at IPO price of ₹ 85 per equity share will be ₹ 191.26 Crores. The lot size of the IPO is 1,600 shares. Retail investors are required to invest a minimum of ₹ 1,36,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (3,200 shares), amounting to ₹ 2,72,000.

NARNOLIA FINANCIAL SERVICES LIMITED is the book running lead manager of the Adcounty Media India IPO, while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue. Prabhat Financial Services Limited is the Market Maker for Adcounty Media India IPO.

Adcounty Media India Limited IPO GMP Today
The Grey Market Premium of Adcounty Media India Limited IPO is expected to be ₹ 19 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Adcounty Media India Limited IPO Live Subscription Status Today: Real-Time Update
Adcounty Media India IPO will be open for its subscription on 27 June, 2025.


Adcounty Media India IPO Anchor Investors Report
Adcounty Media India has raised ₹ 14.33 Crores from Anchor Investors at a price of ₹ 85 per shares in consultation of the Book Running Lead Managers. The company allocated 16,86,400 equity shares to the Anchor Investors. Check Full List of Adcounty Media India Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Adcounty Media India Limited Day Wise IPO GMP Trend

Date

IPO Price

Expected Listing Price

GMP

Last Updated 

24 June 2025 ₹ 85 ₹ 104 ₹ 19 (22.22%) 07:00 PM; 24 June 2025


Adcounty Media India Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Adcounty Media India IPO allotment date is 02 July, 2025, Wednesday. Adcounty Media India IPO Allotment will be out on 2nd July, 2025 and will be live on Registrar Website from the allotment date. 
Check Adcounty Media India IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Adcounty Media India Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Adcounty Media India Limited IPO
Adcounty Media India proposes to utilise the Net Proceeds towards the following objects: 
1. ₹ 1,400.00 Lakhs is required to meet out the Capital Expenditure requirements of the Company; and
2. ₹ 2,500.00 Lakhs is required to meet out the Working Capital requirements of the Company; and
3. To meet out the expenses for Unidentified Acquisition of the Company and General Corporate Purposes;

Refer to Adcounty Media India Limited RHP for more details about the Company.

Adcounty Media India IPO Details

IPO Date June 27, 2025 to July 01, 2025
Listing Date July 04, 2025
Face Value ₹ 10.00
Price ₹ 80 to ₹ 85 per share
Lot Size 1,600 Equity Shares
Total Issue Size 59,63,200 Equity Shares (aggregating up to ₹ 50.68 Cr)
Fresh Issue 59,63,200 Equity Shares (aggregating up to ₹ 50.68 Cr)
Offer for Sale NA
Issue Type Book Built Issue
Listing At BSE SME
Share holding pre issue 1,65,38,000
Share holding post issue 2,25,01,200

Adcounty Media India IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1,600 ₹1,36,000
Retail (Max) 1 1,600 ₹1,36,000
S-HNI (Min) 2 3,200 ₹2,72,000
S-HNI (Max) 7 11,200 ₹9,52,000
B-HNI (Min) 8 12,800 ₹10,88,000

Adcounty Media India IPO Timeline (Tentative Schedule)

IPO Open Date June 27, 2025
IPO Close Date July 01, 2025
Basis of Allotment July 02, 2025
Initiation of Refunds July 03, 2025
Credit of Shares to Demat July 04, 2025
Listing Date July 04, 2025
Cut-off time for UPI mandate confirmation 5 PM on July 01, 2025

Adcounty Media India IPO Reservation

Investor Category Shares Offered Reservation %
QIB Portion 11,24,800 Not More than 50% of the Issue
Non-Institutional Investor Portion 8,44,800 Not Less than 15% of the Issue
Retail Shares Offered 19,71,200 Not Less than 35% of the Issue
Anchor Investor Portion 16,86,400 Allotted from QIB Portion
Market Maker Portion 3,36,000 5.63% of the Net Issue

Adcounty Media India IPO Promoter Holding

Share Holding Pre Issue 89.14 %
Share Holding Post Issue 65.52 %

Adcounty Media India IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed
Qualified Institutional Buyers (QIB) 11,24,800 - 0.00
Non Institutional Investors(NIIS) 11,80,800 - 0.00
Retail Individual Investors (RIIs) 19,71,200 - 0.00
Total 42,76,800 - 0.00

About Adcounty Media India Limited

BUSINESS OVERVIEW

Adcounty Media India is a BrandTech company delivering end-to-end digital marketing solutions ranging from branding to performance optimization. The company utilizes cutting-edge technologies to serve clients across diverse industries with customized advertising strategies crafted from a consumer-centric perspective.

It operates multiple websites and mobile applications across various verticals and offers a proprietary programmatic tool, BidCounty, to boost branding and performance campaigns. Through comprehensive market research and advanced tools, the company ensures effective user acquisition and impactful ad solutions.

The company’s core objective is to deliver innovative media solutions that help identify, target, acquire, and retain the right audience. Services include Programmatic Advertising, SEO, Social Media Marketing, Pay Per Click (PPC), Cost Per Acquisition (CPA), Cost Per Sale (CPS), Cost Per Lead (CPL), and Cost Per Install (CPI) campaigns.

Business operations are based on a performance-driven model, earning revenue through outcome-based marketing—measured by traffic, leads, downloads, sales, and conversions rather than fixed fees. This has positioned Adcounty Media India as a trusted partner for brands in Fintech, Auto, BFSI, Ecommerce, iGaming, Travel, QSR, and FMCG sectors.

Under its Adtech vertical, the company utilizes in-house tools, SMS and Email marketing, and programmatic platforms for audience targeting, media buying, and campaign optimization. The Digital Marketing vertical leverages social media, search engines, messaging apps (including WhatsApp), and mobile apps, applying data analytics, campaign optimization, and consumer insights for real-time, cost-effective and measurable ad campaigns

As of May 30, 2025, the Company had employed 45 permanent employees. The Banker to the Company is YES Bank Limited.


INDUSTRY ANALYSIS

Indian Digital Marketing & AdTech Industry Overview

Digital Marketing in India: A Growing Economic Force

India is witnessing a digital transformation, with digital marketing becoming a key driver of economic growth. Leveraging tools like social media, search engines, and email marketing, businesses can now engage vast audiences more effectively than ever. According to Business Standard, India is set to become the world’s second-largest online market, with over 900 million active internet users by 2025. This rapid digital adoption is fueling not just business growth, but also societal and economic change.

The shift towards digital channels is reflected in the surge of e-commerce, projected to touch USD 200 billion by 2027. As per Financial Express, digital media now accounts for 44% of total advertising spending in India, underlining a strong industry pivot from traditional to digital mediums. These trends indicate that digital marketing in India is no longer just an emerging trend but a fundamental shift in consumer behavior and business communication, shaping a more connected and data-driven economy.

Indian AdTech Industry: Technology-Driven Advertising Revolution

The growth of internet penetration and smartphone usage has dramatically expanded India’s advertising landscape, allowing advertisers to access a broader and more diverse consumer base, including those in remote areas. This digital revolution has sparked a surge in demand for online advertising.

Digital platforms now offer rich, data-driven insights that enable advertisers to craft personalized and highly targeted campaigns, thanks to detailed analytics on consumer behavior, preferences, and buying patterns. The diverse formats of digital ads, such as videos, interactive banners, and mobile-optimized creatives, enhance engagement by catering to various audience segments.

A major technological leap in the AdTech space is the integration of AI-powered tools, like those in YouTube’s Ads Creative Studio, which help advertisers customize content at scale for India’s linguistically and culturally diverse audience. These AI solutions are crucial for creating localized and impactful campaigns tailored to specific regions and demographics.

The Indian AdTech market was valued at USD 27.30 million in 2024, and as per IMARC Group, it is expected to grow at a CAGR of 24.20%, reaching USD 238.40 million by 2033. Key growth drivers include AI-based personalization, programmatic advertising, mobile-first strategies, and a booming e-commerce sector. Additionally, regulatory advancements and increasing investments in data analytics are further strengthening India’s targeted advertising capabilities.


Conclusion

India's digital marketing and AdTech industries are undergoing rapid evolution, driven by widespread digital access, AI adoption, and growing e-commerce activity. As businesses and advertisers adapt to this shift, the future of marketing in India will be increasingly intelligent, localized, and performance-driven

BUSINESS RISK FACTORS & CONCERNS

1. High Revenue Dependency on Limited Clients

A significant portion of the company’s revenue comes from a limited number of key customers. The loss of any major client or a substantial drop in their demand may negatively impact business operations, cash flow, and overall profitability. Past disruptions, including disputes and client disqualifications, have contributed to revenue decline.

2. Fluctuating Revenue Growth and Operational Challenges

Although revenue from operations increased by 61.50% in FY 2025 compared to FY 2024, previous years saw a decline due to delayed payments and client attrition linked to compliance issues. Sustained growth depends on the effective execution of business strategies. Inability to manage growth efficiently may further impact financial performance.

3. Geographical Concentration Risk

Despite having a presence across India and internationally, the company’s Indian revenue is heavily concentrated in Haryana, Karnataka, and Maharashtra, contributing over 85% of total domestic revenue across the last three financial years. Any adverse development in these states could significantly affect operations and earnings.

4. Lack of Long-Term Agreements with Media Suppliers

The company relies on external platforms (websites, apps, social media, etc.) to run digital campaigns but does not have long-term contracts with these media suppliers. This transactional nature poses risks of platform unavailability or delays, potentially affecting timely campaign execution and damaging client trust.

Adcounty Media India faces key risks from client concentration, inconsistent revenue trends, geographic dependence, and the lack of long-term media supply contracts. These factors could adversely impact operational efficiency, growth, and financial stability if not managed effectively.

Adcounty Media India Limited Financial Information (Restated Consolidated)

Amount in (₹ in Lakh)

Period Ended Mar 31, 2025 Mar 31, 2024 Mar 31, 2023
Reserve of Surplus 2,135.96 2,025.67 1,190.55
Total Assets 4,791.79 2,951.20 2,684.27
Total Borrowings 20.19 0.00 0.00
Fixed Assets 20.05 28.37 26.23
Cash 371.72 445.73 32.81
Net Borrowing -351.53 -445.73 -32.81
Revenue 6,958.04 4,324.28 5,364.02
EBITDA 1,893.69 1,138.49 1,047.94
PAT 1,375.01 828.23 763.50
EPS 8.37 5.17 4.77

Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue, given in 
FINANCIAL EXPRESS.

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.) ₹ 8.37
EPS Post IPO (Rs.) ₹ 6.11
P/E Pre IPO 10.15
P/E Post IPO 13.91
ROE 47.28 %
ROCE 47.27 %
P/BV 2.16
Debt/Equity -
RoNW 47.28 %

Adcounty Media India Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
Adcounty Media India Limited ₹ 6.11 47.27 % 47.28 % 13.91 2.16 - 47.28 %
Affle 3i Limited (formerly known as Affle India Limited) ₹ 27.2 16.8 % 14.0 % 70.1 9.11 0.03 14.0 %
DAPS Advertising Limited ₹ 2.30 9.90 % 7.34 % 10.4 0.74 0.01 7.34 %
Adcounty Media India Limited Contact Details

ADCOUNTY MEDIA INDIA LIMITED

First Floor, D-41, Patrakar Colony, Near Jawahar Nagar Moti Dungri Vistar Yojna, Raja Park, Jaipur, Rajasthan, India – 302004
Contact Person : Ms. Ashita Agrawal
Telephone : + 91 7877623083
Email : cs@adcountymedia.com 
Website : 
https://www.adcountymedia.com/

Adcounty Media India IPO Registrar and Lead Manager(s)

Registrar : SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
Contact Person : Mr. Anuj Rana
Telephone : +91-11-40450193-97
Email : compliances@skylinerta.com
Website : 
https://www.skylinerta.com/

Lead Manager : NARNOLIA FINANCIAL SERVICES LIMITED
Contact Person : Mr. Rajveer Singh
Telephone : +91-; 033-40501500
Email : ipo@narnolia.com
Website : 
https://www.narnolia.com/

Adcounty Media India IPO Review

Adcounty Media India is a BrandTech company focused on providing end-to-end solutions to brands, that cover everything from branding to performance optimisation. They leverage the latest technologies to serve a diverse range of clients spanning across various industries. The firm empowers its client-base with customized advertising solutions that are designed and developed through the lenses of customers. 

The Promoter and Managing Directors, Mr. Chandan Garg and Mr. Aditya Jangid have an experience of 15 years in Informational Technology and Software Development and 21 years in Sales, Operational Finance and Business Development, respectively. While the Promoter and Whole Time Directors, Mr. Abbhinav Rajendra Jain and Mr. Delphin Varghese have an experience of 20 years in Business Operations and 18 years in Media Planning, respectively. The Promoter and Non-Executive Non-Independent Director, Ms. Vartika Dangayach has an experience of 12 years in personnel and organisational development. 

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹  6,958.04 Lakh, ₹ 4,324.28 Lakh and ₹  5,364.02 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,893.69 Lakh, ₹  1,138.49 Lakh and ₹1,047.94311.56 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹  1,375.01 Lakh, ₹ 828.23 Lakh and ₹  763.50 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 8.37 and post-issue EPS of ₹ 6.11 for FY24. The pre-issue P/E ratio is 10.15x, while the post-issue P/E ratio is 13.91x against the Industry P/E Ratio is 25.00x. The company's ROCE for FY24 is 47.27%, ROE for FY24 is 47.28% and RoNW is 47.28%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Adcounty Media India showing listing gains of 22.22 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Adcounty Media India Limited IPO for Listing gain.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit our website abhayvarn.com

About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.

6,958.04 Lakh, ₹ 4,324.28 Lakh and ₹  5,364.02 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,893.69 Lakh, ₹  1,138.49 Lakh and ₹1,047.94311.56 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹  1,375.01 Lakh, ₹ 828.23 Lakh and ₹  763.50 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 8.37 and post-issue EPS of ₹ 6.11 for FY24. The pre-issue P/E ratio is 10.15x, while the post-issue P/E ratio is 13.91x against the Industry P/E Ratio is 25.00x. The company's ROCE for FY24 is 47.27%, ROE for FY24 is 47.28% and RoNW is 47.28%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Adcounty Media India showing listing gains of 22.22 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Adcounty Media India Limited IPO for Listing gain.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit our website abhayvarn.com

About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.

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