The Indian IPO market has seen a steady rise in participation, especially in the SME segment, and Adcounty Media IPO has emerged as one of the most anticipated listings of June–July 2025. With its strong financial performance, reasonable valuation, and a positive outlook in the digital advertising industry, the Adcounty Media IPO has caught the attention of retail and HNI investors alike.
This comprehensive article will explore everything about the Adcounty Media IPO including issue details, Grey Market Premium (GMP), financials, objectives, technical indicators, peer comparison, and investment outlook.
1. IPO Snapshot
Adcounty Media India Limited has launched a book-building initial public offering (IPO) worth ₹50.69 crores, consisting entirely of a fresh issue of 59.63 lakh equity shares. The IPO opens on 27th June 2025 and closes on 1st July 2025, with tentative listing scheduled for 4th July 2025 on the BSE SME platform.
Key Details:
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Price Band: ₹80 to ₹85 per share
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Lot Size: 1,600 shares
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Retail Investment: Minimum of ₹1,36,000 (for one lot)
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Face Value: ₹10 per share
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Issue Type: 100% Book-Building
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Registrar: Skyline Financial Services Private Limited
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Listing Platform: BSE SME
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Market Capitalization (Post-issue): Approx ₹191.26 crores
2. Grey Market Premium (GMP) Trend
The Grey Market Premium is an unofficial indicator of how a stock might perform on listing day. As of 27th June 2025, the GMP for Adcounty Media IPO stands at ₹33 per share.
GMP Table:
| Date | Issue Price | GMP | Estimated Listing Price | Listing Gain % |
|---|---|---|---|---|
| 27-06-2025 | ₹85 | ₹33 | ₹118 | 38.82% |
| 26-06-2025 | ₹85 | ₹33 | ₹118 | 38.82% |
| 25-06-2025 | ₹85 | ₹33 | ₹118 | 38.82% |
| 24-06-2025 | ₹85 | ₹0 | ₹85 | 0.00% |
| Earlier | ₹85 | ₹0 | ₹85 | 0.00% |
A consistent GMP of ₹33 in the last three days reflects strong investor sentiment and expected listing gains of nearly 39%.
3. Financial Performance
Adcounty Media India Limited has shown robust financial growth over the last two fiscal years. The company has expanded revenue and improved profitability margins.
Key Financials:
| Financial Metric | FY24 | FY25 | Growth (%) |
|---|---|---|---|
| Revenue | ₹43.24 crore | ₹69.58 crore | +60.91% |
| Profit After Tax (PAT) | ₹8.28 crore | ₹13.75 crore | +66.06% |
| EBITDA Margin | – | 26.49% | – |
| PAT Margin | – | 19.96% | – |
| PE Ratio (Pre-IPO) | – | 10.16 | – |
| PE Ratio (Post-IPO) | – | 13.91 | – |
| EPS (Pre-IPO) | – | ₹8.37 | – |
| EPS (Post-IPO) | – | ₹6.11 | – |
| RoNW | – | 47.28% | – |
| ROCE | – | 47.27% | – |
This strong financial performance makes Adcounty Media an attractive proposition at a reasonable valuation.
4. Use of IPO Proceeds
Adcounty Media aims to use the net proceeds from the IPO in the following areas:
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Working Capital Requirements
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Capital Expenditure
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General Corporate Purposes
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Public Issue Expenses
These planned expenditures indicate a growth-focused approach with an emphasis on operational expansion.
5. Business Overview
Adcounty Media India Limited is a digital marketing and advertising technology company that provides data-driven performance marketing, programmatic buying, and media planning. Their services include:
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Cost Per Install (CPI)
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Cost Per Click (CPC)
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Cost Per Lead (CPL)
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Affiliate marketing
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Mobile and web-based advertising
With operations in more than 8 countries, the company works with leading Indian brands in fintech, healthtech, and e-commerce.
Their strength lies in their high-margin ad-tech solutions, which are increasingly in demand as businesses shift budgets from traditional to digital platforms.
6. Peer Comparison
A quick comparison with other listed players in the ad-tech or media sector shows Adcounty Media is better valued in terms of PE and return ratios.
| Company Name | Revenue (Cr.) | PE Ratio | EPS | RoNW (%) |
|---|---|---|---|---|
| Adcounty Media Ltd | ₹69.58 | 10.16 | ₹8.37 | 47.28 |
| Affle (India) Ltd | ₹1,900.00 | 65.26 | ₹8.24 | 1.60 |
| Daps Advertising Ltd | ₹21.33 | 9.83 | ₹2.29 | 1.83 |
Despite being an SME, Adcounty Media’s profitability and return metrics stand out strongly compared to larger peers.
7. IPO Allotment & Listing Timeline
| Event | Date |
|---|---|
| IPO Open Date | 27th June 2025 |
| IPO Close Date | 1st July 2025 |
| Basis of Allotment | 2nd July 2025 |
| Refund Initiation | 3rd July 2025 |
| Credit to Demat Accounts | 3rd July 2025 |
| Listing Date | 4th July 2025 |
8. Technical Indicators
Adcounty Media’s technical indicators suggest strong fundamentals:
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PE Ratio (Post-issue): 13.91
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Return on Equity (RoE): 47.28%
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EBITDA Margin: 26.49%
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PAT Margin: 19.96%
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Price to Book Value: 3.71
The company’s high RoE and RoCE ratios make it stand out among SME offerings. The margins reflect operational efficiency, a rarity among mid-size advertising firms.
9. Expert Review and Investment Outlook
The Adcounty Media IPO has received neutral to positive reviews from market analysts and IPO reviewers. Key highlights include:
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High revenue and PAT growth
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Strong return ratios
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Low debt and scalable business model
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Reasonable valuation compared to peers
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Attractive GMP trends
However, being an SME IPO, risks include lower liquidity post-listing and reduced analyst coverage. Investors should also be aware that the ₹1.36 lakh ticket size limits flexibility.
10. FAQs – Quick Recap
Q1: What is the Adcounty Media IPO GMP today?
A: ₹33 per share, indicating a 38.82% premium over issue price.
Q2: What’s the issue size of the IPO?
A: ₹50.69 crore through a fresh issue of 59.63 lakh shares.
Q3: What is the price band and lot size?
A: Price band is ₹80–₹85; minimum lot size is 1,600 shares.
Q4: When will Adcounty Media IPO be listed?
A: Tentative listing date is 4th July 2025 on BSE SME.
Q5: Is Adcounty Media IPO a good investment?
A: Based on financials, valuation, and GMP, it has moderate-to-high listing gain potential. Suitable for investors looking at growth in digital ad-tech.
Conclusion
The Adcounty Media IPO offers a compelling opportunity in the digital marketing and performance advertising space. With solid financials, reasonable pricing, and a strong GMP, this IPO has the potential to yield healthy listing gains and long-term value. Retail investors with appetite for SME IPOs and the required investment ticket may consider subscribing after evaluating personal risk tolerance and portfolio goals.
Always consult a financial advisor before investing, especially in SME offerings, which tend to be more volatile than mainboard IPOs.
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