PNN
Mumbai (Maharashtra) [India], July 30: CashurDrive Marketing Limited (CashurDrive, The Company), is an outdoor media advertising company, proposes to open its Initial Public Offering on 31st July, 2025 and aiming to raise ₹ 60.79 Crores (at the upper price band), with shares proposed to be listed on the NSE Emerge platform.
The issue size is 46,76,000 equity shares with a face value of ₹10 each with a price band of ₹ 123 - ₹ 130 per share.
Equity Share Allocation
* QIB Anchor Portion - Up To 13,22,000 Equity Shares
* Qualified Institutional Buyer - Up To 8,82,000 Equity Shares
* Non-Institutional Investors - Not less than 6,63,000 Equity Shares
* Retail Individual Investors - Not less than 15,50,000 Equity Shares
* Market Maker - 2,59,000 Equity Shares
The net proceeds from the IPO will be utilized for investment in technology, capital expenditure, funding the working capital requirement and general corporate purposes. The anchor portion will open on 30th July, 2025 and issue will close on 04th Aug, 2025.
The Book Running Lead Manager to the Issue is Narnolia Financial Services Limited, and the Registrar is Bigshare Services Private Limited.
Mr. Raghu Khanna, Managing Director of CashurDrive Marketing Limited expressed, "
"Our journey began with a simple yet powerful idea -- to transform everyday commutes into impactful advertising opportunities. From our roots in cab branding, we've evolved into a full-spectrum OOH media solutions provider, leading the charge in sustainable and tech-driven advertising. Today, with exclusive rights on over 1,000 electric buses we are leading sustainable media asset company and will be leading the new infrastructure growth in India through monetisation of advertising assets.
This IPO marks a significant milestone in our growth journey. The proceeds will enable us to invest in cutting-edge technology, expand our media asset base, and strengthen our operational capabilities across new geographies. More importantly, it empowers us to scale our ESG-compliant advertising model, helping brands engage audiences in ways that are both effective and environmentally responsible."
Mr. Vipin Aggarwal, Director of Narnolia Financial Services Limited said, "The company represents a new generation of out-of-home media companies aligning with the future of sustainable urban mobility and advertising. The company stands out as one of the few players effectively blending sustainability, technology, and innovation in India's outdoor advertising landscape. With exclusive rights across electric buses, EV charging stations, and strategic fleet partnerships, the company has built a strong foundation in the fast-evolving transit media segment.
Its consistent expansion across major cities and first-mover advantage in eco-friendly advertising assets position it well to capitalize on the growing demand for sustainable branding solutions. The IPO will provide the necessary growth capital to enhance its asset base, invest in technology, and strengthen its market presence."
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