Home
First for OOH: Bright Outdoor Media to launch IPO by March

First for OOH: Bright Outdoor Media to launch IPO by March

The company seeks to enter the DOOH space and position the company in the ‘minds of people, Chief Managing Director Dr. Yogesh Lakhani told e4m

by Team PITCH
February 17, 2023

First for OOH: Bright Outdoor Media to launch IPO by March

Bright Outdoor Media is all set to launch its IPO by March. This will be the first time an OOH company will be going for an IPO.

In an exclusive chat with e4m, Dr. Yogesh Lakhani, Chief Managing Director, Bright Outdoor Media, said, “We have been in this business since 1980. We want to introduce the company and position it in the minds of people. We want to expand the business since OOH is also going with the digital wave and digital hoarding is costly. We want to enter into DOOH and we want to be a part of that journey.”

“Currently we have been funded by banks. This will be a landmark movement. We want to convert 100 hoardings of Mumbai into DOOH. The investment will be currently in India but we have plans to go abroad as well.”

According to Lakhani, building a DOOH needs an investment of Rs 1.5 to 2 crore. The company is going to dilute 25% stakes with this IPO, he said.