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Vertoz Advertising, which got listed on the NSE Emerge platform on Friday, gained 20 per cent to close at ₹129.6 against the issue price of ₹108.
The public issue of the programmatic advertising company was subscribed 4.2 times last week.
Vertoz currently has direct and associate presence in over 200 countries, 15,000 publishers on the platform and over 6,000 active campaigns have been done for customers with 500 million active audiences.
Good growth opportunityThe company uses complex algorithm developed in house for programmatic buying and selling of media across different channels such as desktop, mobile web and mobile application. While Programmatic Advertising is still evolving in India, Vertoz has served many corporate customers, start-ups and sees good growth opportunity. In India, it is currently working with leading corporates such as Godrej, MRF, HDFC Life, Air Asia and Lenova.
Ashish Shah, CEO & Founder, Vertoz, said the company will utilise the fund raised through IPO for inorganic growth in the US and expanding market base in India.
Citing KPMG report that pegged digital advertising spend to grow 40 per cent CAGR to ₹6,000 crore by 2016, he said the company’s sales will touch ₹32 crore this year and hit ₹100 crore-mark in four years driven largely advertisement spends in sectors such as consumer goods and banking, financial services and insurance sectors.
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