Adcounty Media India IPO Review: Price, Lot Size, GMP, Financials & Listing Gain

NOOR MOHMMED

    25/Jun/2025

  • Adcounty Media India IPO opens on June 27, with a book-built issue of ₹50.68 crore via fresh shares.

  • IPO price band is ₹80–₹85, and lot size is 1,600 shares; retail investment starts from ₹1.36 lakh.

  • GMP of ₹19 suggests 22% expected listing gain, with strong financials and fair post-issue valuation.

Adcounty Media India Limited is a BrandTech firm that blends advertising, branding, and performance marketing through technology. It delivers tailored solutions across industries, helping brands improve customer reach and campaign effectiveness. The IPO aims to fund business expansion and tech enhancement.


IPO Details

IPO Particulars Information
IPO Type Book Built Issue
Total Issue Size ₹50.68 crore
Fresh Issue 59.63 lakh shares
Price Band ₹80 to ₹85 per share
Lot Size 1,600 shares
Minimum Retail Investment ₹1,36,000
HNI Minimum Investment ₹2,72,000 (2 lots)
IPO Opening Date June 27, 2025
IPO Closing Date July 1, 2025
Allotment Date (Tentative) July 2, 2025
Listing Date (Tentative) July 4, 2025
Exchange BSE SME
Lead Manager Narnolia Financial Services Ltd.
Registrar Skyline Financial Services Pvt. Ltd.
Market Maker Prabhat Financial Services Ltd.


Business Overview

Adcounty Media India positions itself as a BrandTech company, a hybrid of branding and ad tech, offering services like:

  • Customer-focused ad campaigns

  • Performance optimization & branding

  • Tech-enabled solutions across platforms

Their clientele spans e-commerce, travel, health, finance, and other verticals, domestically and internationally.


Promoters & Management

The company is led by:

  • Mr. Chandan Garg – 15 years of IT and software experience

  • Mr. Aditya Jangid – 21 years in sales, finance, and biz development

  • Mr. Abbhinav Jain & Mr. Delphin Varghese – 20+ years in ops & media

  • Ms. Vartika Dangayach – 12 years in HR and org development

Their combined industry and managerial experience enhances operational depth and vision.


Financial Performance (₹ in Lakh)

Financial Year Revenue EBITDA PAT
FY 2024–25 ₹6,958.04 ₹1,893.69 ₹1,375.01
FY 2023–24 ₹4,324.28 ₹1,138.49 ₹828.23
FY 2022–23 ₹5,364.02 ₹1,047.94 ₹763.50

📈 The company reported consistent growth, with revenue nearly doubling over two years and a robust jump in profitability, reflecting operational efficiency and scaling success.


Valuation & Ratios

Metric Value
Pre-Issue EPS (FY24) ₹8.37
Post-Issue EPS (FY24) ₹6.11
Pre-Issue P/E Ratio 10.15x
Post-Issue P/E Ratio 13.91x
Industry P/E Ratio 25.00x
ROCE (FY24) 47.27%
ROE (FY24) 47.28%
RoNW 47.28%
Market Cap at Upper Band ₹191.26 crore

✅ The IPO valuation appears moderate compared to industry averages, and the high ROCE and ROE reflect efficient capital usage.


Grey Market Premium (GMP)

  • GMP Today: ₹19

  • IPO Price (Upper Band): ₹85

  • Expected Listing Price: ₹104

  • Implied Listing Gain: ~22.22%

GMP reflects strong sentiment. However, actual listing may vary based on broader market cues.


Strengths

  • Tech-first, client-centric advertising model

  • Experienced leadership team with domain diversity

  • High returns on capital employed

  • Attractive pricing vs. industry P/E


Risks

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