Simca Advertising IPO
Simca Advertising LtdSME
This IPO has listed.
- Open date
- 8 May 2026
- Close date
- 12 May 2026
- Min. Investment
- ₹2,19,600
- Lot Size
- -
- Fresh Issue
- ₹58.04 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers81.83x
- Non-Institutional Investors137.69x
- Retail-Individual Investors71.00x
- Total76.23x
Schedule
- Completed: IPO open date8 May 2026
- Completed: IPO close date12 May 2026
- Completed: Allotment date13 May 2026
- Completed: Funds unblock or debit14 May 2026
- Completed: Tentative listing date15 May 2026
About
Promoter shareholding in Simca Advertising Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Fahim Batliwala | 87,98,944 | 99.99% | 87,98,944 | 73.50% |
| Ashma Fahim Batliwala | 176 | 0.00% | 176 | 0.00% |
| Khairunnisa Harunseth Mohamed | 176 | 0.00% | 176 | 0.00% |
| Farah Abdul Rashid Shaikh | 176 | 0.00% | 176 | 0.00% |
Simca Advertising IPO Strengths & Risks
- Established market presence and media network in OOH Advertising.
- Comprehensive advertising solutions for brand engagement
- Cost-effectiveness, ROI for advertisers along with brand awareness and consumer recall.
- Strong partnerships, industry collaborations and competitive market advantage.
- Experienced management team with managerial, creative and technical expertise and industry relationships.
- Risks Relating to the Business: We are depended on leased media sites including media assets leased from the proprietorship firm of our promoter, Fahim Batliwala and do not own advertising infrastructure, which could adversely impact our business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: We rely on the reputation of the "SIMCA" brand in Mumbai, and any damage to it could adversely affect our business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Our Promoter, Fahim Batliwala is involved into ventures which are in businesses similar to ours through various proprietorship firms.
- Risks Relating to the Business: Out-of-Home (OOH) Advertising business is dependent on availability of space or sites for publishing of ads. Any significant increase in the prices of such ad space or sites or non-availability of such ad space or sites may adversely affect our business and results of operations.
- Risks Relating to the Business: Our operations are concentrated in Mumbai Metropolitan Region ("MMR"), and any loss of business in such region could have an adverse effect on our business, results of operations and financial condition.
- Risks Relating to the Business: We do not have long-term agreements with our customers. Any changes or cancellations to our orders may adversely affect our business, results of operations and financial condition.
- Risks Relating to the Business: Failure to maintain quality standards in advertising execution may lead to client disputes, legal liabilities, and reputational impact.
- Risks Relating to the Business: Our business requires us to obtain and renew certain registrations, licenses, and permits from government and regulatory authorities and failure to obtain and renew them in a timely manner may adversely our business.
- Risks Relating to the Business: Our industry is shifting towards digital OOH formats. Inability to timely invest in or adopt new technologies such as LED hoardings, programmatic advertising, or analytics tools may affect our competitiveness and relevance.
- Risks Relating to the Business: The Restated Financial Information provided in this Draft Red Herring Prospectus have been provided by the Peer Reviewed Chartered Accountants who are not the Statutory Auditors of our Company.
- Risks Relating to the Business: The OOH advertising sector is fragmented and highly competitive. Pricing pressures from new entrants or larger incumbents offering bundled services may reduce margins or limit our ability to increase pricing.
- Risks Relating to the Business: Our business is dependent on a third party advertising agencies. Loss of one or more key agencies or a decline in advertising spend from them may significantly impact our revenues.
- Risks Relating to the Business: The commercial success of our services depends to a large extent on the success of our end use customers. If there is any downturn in the industries in which our customers operate, it could have a material adverse effect on our business, financial condition and results of operations.
- Risks Relating to the Business: We may be unable to respond to changes in consumer demands and market trends in a timely manner.
- Risks Relating to the Business: The industry in which we operate possess various risks and challenges as provided in the Industry Report titled "OOH Industry in India" dated June 24, 2025, which is exclusively prepared for the purposes of the Issue and issued by D&B and is commissioned and paid for by our Company ("D&B Report").
- Risks Relating to the Business: Our business requires significant amount of working capital. We may not be able to obtain future financing on favourable terms or at all. If we experience insufficient cash flows from our operations or are unable to borrow funds to meet our working capital requirements, it may materially and adversely affect our business and results of operations.
- Risks Relating to the Business: A significant share of our current assets is tied up in trade receivables. Any delay in customer payments may lead to working capital mismatches and affect the short-term financial position of our company.
- Risks Relating to the Business: Significant lease payments to the related proprietorship firm of our promoter, Fahim Batliwala may impact our company's financial ratios and may be viewed as a financial dependency, especially in absence of independent asset ownership.
- Risks Relating to the Business: Although the business has historical roots, our company was corporatized recently. Its short standalone financial track record may be considered insufficient for assessing sustained financial performance.
- Risks Relating to the Business: High capital expenditure for conversion of existing static hoardings to LED hoardings and installation of new LED hoarding sites may impact our financial position and cash flows.
- Risks Relating to the Business: Any future penalties or demands raised by statutory authorities may adversely impact the financial position of the company.
- Risks Relating to the Business: There are outstanding legal proceedings involving our Company, Promoters and Directors. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
- Risks Relating to the Business: There has been delay in filing of forms with the Registrar of Companies as per the stipulated timelines prescribed under the Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for delay in such compliances could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: We have applied for registration of our word mark "SIMCA" and logo under the Trademarks Act, 1999. However, the same has not yet been registered. Failure to protect our intellectual property rights may adversely affect our competitive business position, financial condition and profitability.
- Risks Relating to the Business: Non-compliance with and changes in any of the applicable laws, rules or regulations may adversely affect our business, results of operations and financial condition and cash flows.
- Risks Relating to the Business: We require certain approvals, licenses, registrations and permits for conducting our business and our inability to obtain, retain or renew them in a timely manner, or at all, may adversely affect our business, results of operations and financial condition.
- Risks Relating to the Business: The Objects of the Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of our Net Proceeds as disclosed in this Draft Red Herring Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
- Risks Relating to the Business: The objects of the Issue include funding incremental working capital requirements, which is based on certain assumptions and estimates. Any failure in arranging adequate working capital for our operations may adversely affect our business, results of operations, cash flows and financial conditions.
- Risks Relating to the Business: We intend to utilise a portion of our Net Proceeds for purchase of LED hoardings. Any delay in placing orders or procurement and installation of such LED hoardings may delay the schedule of implementation.
- Risks Relating to the Business: We propose to utilize a certain amount from the Net Proceeds towards a strategic collaboration for monetization of 20 LED digital screens with CWM. Any delay or underperformance in implementation may adversely affect our financial results.
- Risks Relating to the Business: Our company's performance depends on our key managerial, senior management, creative and technical teams, and we may be unable to attract and retain key managerial, senior management, creative and technical personnel.
- Risks Relating to the Business: Our outdoor media assets are subject to face harsh environmental conditions that can lead to significant deterioration over time.
- Risks Relating to the Business: Authorised usage of hoardings has been facilitated through contractual arrangements with entities holding the requisite licenses or through their respective arrangements with the original license holders, which may have an adverse effect on our business, financial condition and results of operations.
- Risks Relating to the Business: Limited insurance coverage of the media sites and risk of liability on site owners may expose the company to reputational and operational risks.
- Risks Relating to the Business: We depend on multiple external vendors for critical services such as site fabrication, printing, transport, installation, and maintenance. Any operational or financial instability at vendor-end may delay campaign execution or degrade service quality.
- Risks Relating to the Business: A significant portion of our revenue is driven by short-duration campaigns, often clustered around events, festivals, or brand launches. Delays in client approvals or budget cuts may lead to last-minute cancellations or execution bottlenecks, impacting our operations and financial results.
- Risks Relating to the Business: Interruption or failure of our company's information technology or data backup systems could impair our ability to provide our services effectively and in a timely manner, and could result in loss of work product, customer files or other valuable data.
- Risks Relating to the Business: The company could become liable to customers, suffer adverse publicity and incur substantial costs as a result of defects in the company's services, which in turn could adversely affect the value of its brand, and the company's sales could be diminished if the company is associated with negative publicity.
- Risks Relating to the Business: The company continues to explore the diversification of its business and the implementation of new services. These diversifications and the company's other strategic initiatives may not be successful, which may adversely affect its business and results of operations.
- Risks Relating to the Business: Our registered office is owned by our Promoter, Fahim Batliwala. Our inability to continue operating from such premises, or to seek renewal or extension of such lease may adversely affect our business and results of operations.
- Risks Relating to the Business: Any inability to expand our business into new regions and markets in India or the sub-optimal performance of our new facilities could adversely affect our business, prospects, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Our insurance coverage may not be adequate to protect us against all potential losses, which may have a material adverse effect on our business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Our company depends on assets and operations in India, which are subject to regulatory, economic, social and political uncertainties.
- Risks Relating to the Business: We have commissioned an industry report from Dun & Bradstreet Information Services India Private Limited, which has been used for industry related data in this Draft Red Herring Prospectus.
- Risks Relating to the Business: Our success depends largely upon the knowledge and experience of our Promoter, Fahim Batliwala.
- Risks Relating to the Business: Our Promoters and Promoter Group will continue to retain a majority shareholding in our Company after the Issue, which will allow them to exercise significant influence over us.
- Risks Relating to the Business: Our Directors and Promoters may enter into ventures which are in businesses similar to ours.
- Risks Relating to the Business: We have entered, and will continue to enter, into related party transactions which may involve conflicts of interest. Further, our Promoters, Directors and Key Managerial Personnel may have interests in us other than reimbursement of expenses incurred and normal remuneration or benefits.
- Risks Relating to the Business: The determination of the Price Band is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
- Risks Relating to the Business: We have presented certain supplemental information of our performance and liquidity which is not prepared under or required under AS.
- Risks Relating to the Business: Significant differences exist between Indian GAAP and other accounting principles, such as U.S. GAAP and IFRS, which investors may be more familiar with and may consider material to their assessment of our financial condition.
- Risks Relating to the Business: Pursuant to listing of the Equity Shares, we may be subject to pre-emptive surveillance measures like Additional Surveillance Measure (ASM) and Graded Surveillance Measures (GSM) by the Stock Exchange in order to enhance market integrity and safeguard the interest of investors.
- Risks Relating to the Business: Non-Transferability of lease/sublease agreements from proprietorship to issuer company and future renewal strategy.
- Risks Relating to the Business: The company is dependeds on leased media sites including media assets leased from the proprietorship firm of its promoter, Fahim Batliwala and do not own advertising infrastructure, which could adversely impact the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company relies on the reputation of the "SIMCA" brand in Mumbai, and any damage to it could adversely affect its business, results of operations, financial condition and cash flows. Further, the company's trademark application for the "SIMCA" brand is currently pending for approval with the relevant authorities.
- Risks Relating to the Business: A significant share of the company's current assets is tied up in trade receivables. Any delay in customer payments may lead to working capital mismatches and affect the short-term financial position of the company.
- Risks Relating to the Business: There are litigation involving the company's Promoter, i.e. Fahim Batliwala related to Direct and Indirect Taxation. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not have long-term agreements with a majority of its clients. The company's business is largely dependent on campaignspecific bookings, and clients may change, defer, or cancel their advertising campaigns at short notice. Further, the company's inability to accurately forecast demand for advertising inventory may result in underutilization of sites or loss of revenue opportunities, which could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not have long-term agreements with certain key vendors and media asset owners. If the company is unable to procure media sites, printing, fabrication or related services of the required quality and scale, at competitive prices, the company's business, results of operations and financial condition may be adversely affected. A significant portion of the company's requirements are sourced from a limited number of vendors and site owners. Discontinuation of operations or withdrawal of rights by such parties may adversely impact its ability to secure sites or services on a timely basis and at competitive rates.
- Risks Relating to the Business: The company's Promoter, Fahim Batliwala is involved into ventures which are in businesses similar to ours through various proprietorship firms.
- Risks Relating to the Business: Out-of-Home (OOH) Advertising business is dependent on availability of space or sites for publishing of ads. Any significant increase in the prices of such ad space or sites or non-availability of such ad space or sites may adversely affect its business and results of operations.
- Risks Relating to the Business: The Restated Financial Information provided in this Red Herring Prospectus have been provided by the Peer Reviewed Chartered Accountants who are not the Statutory Auditors of the Company.
- Risks Relating to the Business: The company's operations are concentrated in Mumbai Metropolitan Region ("MMR"), and any loss of business in such region could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not have long-term agreements with its customers. Any changes or cancellations to the company's orders may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: Failures to maintain quality standards in advertising execution may lead to client disputes, legal liabilities, and reputational impact.
- Risks Relating to the Business: The company's business requires us to obtain and renew certain registrations, licenses, and permits from government and regulatory authorities and failures to obtain and renew them in a timely manner may adversely its business.
- Risks Relating to the Business: Significant lease payments to the related proprietorship firm of its promoter, Fahim Batliwala may impact the company's company's financial ratios and may be viewed as a financial dependency, especially in absence of independent asset ownership.
- Risks Relating to the Business: The company's industry is shifting towards digital OOH formats. Inability to timely invest in or adopt new technologies such as LED hoardings, programmatic advertising, or analytics tools may affect its competitiveness and relevance.
- Risks Relating to the Business: The company's business is seasonal in nature, which could adversely affect its financial performance.
- Risks Relating to the Business: The OOH advertising sector is fragmented and highly competitive. Pricing pressures from new entrants or larger incumbents offering bundled services may reduce margins or limit the company's ability to increase pricing.
- Risks Relating to the Business: The company's business is dependent on a third party advertising agencies. Loss of one or more key agencies or a decline in advertising spend from them may significantly impact its revenues.
- Risks Relating to the Business: The company has entered, and will continue to enter, into related party transactions which may involve conflicts of interest. Further, the company's Promoters, Directors and Key Managerial Personnel may have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- Risks Relating to the Business: The company may be unable to respond to changes in consumer demands and market trends in a timely manner.
- Risks Relating to the Business: The industry in which the company operates possess various risks and challenges as provided in the Industry Report titled "OOH Industry in India" dated June 24, 2025, which is exclusively prepared for the purposes of the Issue and issued by D&B and is commissioned and paid for by the Company ("D&B Report").
- Risks Relating to the Business: The commercial success of the company's services depends to a large extent on the success of its end use customers. If there is any downturn in the industries in which its customers operate, it could have a material adverse effect on the company's business, financial condition and results of operations.
- Risks Relating to the Business: Unbilled Revenue recorded in the Restated Financial Information was not recognised in the Audited Financials and may lead to perceived differences in Revenue Reporting.
- Risks Relating to the Business: The company's Directors and Promoters may enter into ventures which are in businesses similar to ours.
- Risks Relating to the Business: The company's business requires significant amount of working capital. The company may not be able to obtain future financing on favourable terms or at all. If we experience insufficient cash flows from its operations or are unable to borrow funds to meet the company's working capital requirements, it may materially and adversely affect its business and results of operations.
- Risks Relating to the Business: Although the business has historical roots, the company was corporatized recently. Its short standalone financial track record may be considered insufficient for assessing sustained financial performance.
- Risks Relating to the Business: High capital expenditure for conversion of existing static hoardings to LED hoardings and installation of new LED hoarding sites may impact our financial position and cash flows.
- Risks Relating to the Business: Any future penalties or demands raised by statutory authorities may adversely impact the financial position of the company.
- Risks Relating to the Business: There are outstanding legal proceedings involving the Company, Promoters and Directors. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: There has been delay in filing of forms with the Registrar of Companies as per the stipulated timelines prescribed under the Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for delay in such compliances could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: The company has applied for registration of its word mark "SIMCA" and logo under the Trademarks Act, 1999. However, the same has not yet been registered. Failures to protect the company's intellectual property rights may adversely affect its competitive business position, financial condition and profitability.
- Risks Relating to the Business: Non-compliance with and changes in any of the applicable laws, rules or regulations may adversely affect its business, results of operations and financial condition and cash flows.
- Risks Relating to the Business: The company requires certain approvals, licenses, registrations and permits for conducting our business and its inability to obtain, retain or renew them in a timely manner, or at all, may adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The Objects of the Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of the company's Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
- Risks Relating to the Business: The Objects of the Issue include funding incremental working capital requirements, which is based on certain assumptions and estimates. Any failures in arranging adequate working capital for its operations may adversely affect the company's business, results of operations, cash flows and financial conditions.
- Risks Relating to the Business: The company intend to utilise a portion of its Net Proceeds for purchase of LED hoardings. Any delay in placing orders or procurement and installation of such LED hoardings may delay the schedule of implementation.
- Risks Relating to the Business: The company proposes to utilize a certain amount from the Net Proceeds towards a strategic collaboration for monetization of 20 LED digital screens with CWM. Any delay or underperformance in implementation may adversely affect its financial results.
- Risks Relating to the Business: The company's performance depends on its key managerial, senior management, creative and technical teams, and the company may be unable to attract and retain key managerial, senior management, creative and technical personnel.
- Risks Relating to the Business: The company's outdoor media assets are subject to face harsh environmental conditions that can lead to significant deterioration over time.
- Risks Relating to the Business: Authorised usage of hoardings has been facilitated through contractual arrangements with entities holding the requisite licenses or through their respective arrangements with the original license holders, which may have an adverse effect on its business, financial condition and results of operations.
- Risks Relating to the Business: Limited insurance coverage of the media sites and risk of liability on site owners may expose the company to reputational and operational risks.
- Risks Relating to the Business: The company depends on multiple external vendors for critical services such as site fabrication, printing, transport, installation, and maintenance. Any operational or financial instability at vendor-end may delay campaign execution or degrade service quality.
- Risks Relating to the Business: A significant portion of the company's revenue is driven by short-duration campaigns, often clustered around events, festivals, or brand launches. Delays in client approvals or budget cuts may lead to last-minute cancellations or execution bottlenecks, impacting its operations and financial results.
- Risks Relating to the Business: Interruption or failures of the company's information technology or data backup systems could impair its ability to provide the company's services effectively and in a timely manner, and could result in loss of work product, customer files or other valuable data.
- Risks Relating to the Business: The company could become liable to customers, suffer adverse publicity and incur substantial costs as a result of defects in the company's services, which in turn could adversely affect the value of its brand, and the company's sales could be diminished if the company is associated with negative publicity.
- Risks Relating to the Business: The company continues to explore the diversification of its business and the implementation of new services. These diversifications and the company's other strategic initiatives may not be successful, which may adversely affect its business and results of operations.
- Risks Relating to the Business: The company's registered office is owned by its Promoter, Fahim Batliwala. The company's inability to continue operating from such premises, or to seek renewal or extension of such lease may adversely affect its business and results of operations.
- Risks Relating to the Business: Any inability to expand its business into new regions and markets in India or the sub-optimal performance of the company's new facilities could adversely affect its business, prospects, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect the company against all potential losses, which may have a material adverse effect on its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company depends on assets and operations in India, which are subject to regulatory, economic, social and political uncertainties.
- Risks Relating to the Business: The company has commissioned an industry report from Dun & Bradstreet Information Services India Private Limited, which has been used for industry related data in this Red Herring Prospectus.
- Risks Relating to the Business: Significant differences exist between Indian GAAP and other accounting principles, such as U.S. GAAP and IFRS, which investors may be more familiar with and may consider material to their assessment of its financial condition.
