AdCounty Media made a strong debut on BSE SME, listing at ₹130, a 52.94% premium over its issue price of ₹85. The IPO was oversubscribed 273.08 times, raising ₹50.69 crore.
Digital advertising technology firm AdCounty Media made a spectacular debut on the BSE SME platform, with its shares listing at ₹130 apiece — a 52.94% premium over its issue price of ₹85. The IPO witnessed overwhelming investor interest, being oversubscribed 273.08 times, and aimed to raise ₹50.69 crore at the upper price band.
Founded in 2017 and headquartered in Gurugram, Haryana, AdCounty Media India Limited is a fast-growing AdTech company specializing in automated and AI-driven digital marketing services across sectors like e-commerce, BFSI, edtech, gaming, FMCG, and travel. The company operates in eight countries, providing end-to-end advertising solutions focused on user acquisition, brand growth, and lead generation.
The IPO, open between June 26 and July 1, offered 5,963,200 new equity shares in a price band of ₹80 to ₹85. The issue received strong traction from both retail and institutional investors. As per market data, the Grey Market Premium (GMP) stood at ₹40, indicating an expected listing around ₹125. However, the stock exceeded expectations by opening at ₹130, reflecting investor confidence in the firm’s business model and growth potential.
For FY 2024–25, AdCounty Media reported ₹68.89 crore in revenue and a profit after tax (PAT) of ₹13.75 crore. The firm plans to use the IPO proceeds for enhancing its tech infrastructure, global expansion, hiring, and general corporate needs. The IPO’s book running lead manager is Narnolia Financial Services Ltd., and Skyline Financial Services Pvt. Ltd. is acting as the Registrar to the Issue.
The corporate promoter behind AdCounty Media is Innovana Thinklabs Limited. Competitor firms listed in the red herring prospectus include Affle (India) Ltd. with a P/E of 65.26 and DAPS Advertising Ltd. with a P/E of 9.83.
Given the high subscription and strong listing premium, analysts believe AdCounty Media’s IPO debut could pave the way for more tech-focused SME listings in the months ahead.
