Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
Aarish Outdoors Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on July 23, 2026 to raise funds through Initial Public Offer (IPO).
Aarish Outdoors Ltd. IPO is a Book Build Issue of 0.47 crore equity shares consisting of a fresh issue of upto 0.39 crore equity shares and an offer for sale (OFS) of upto 0.09 crore equity shares.
The equity shares are proposed to be listed on the NSE SME. Turnaround Corporate Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Aarish Outdoors IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 47,37,600 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 38,57,600 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 8,80,000 shares of ₹2 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 1,00,50,000 shares |
| Share Holding Post Issue | 1,39,07,600 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Jul 23, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15% of the Offer |
Incorporated in September 2022, Aarish Outdoors Limited is an Out-of-Home (OOH) advertising company engaged in providing outdoor advertising solutions through a network of strategically located hoardings across Ahmedabad, Gandhinagar, and adjoining cities in Gujarat. The company offers advertising space on static hoardings positioned at key arterial roads, highways, commercial hubs, and high-traffic locations, enabling advertisers to enhance brand visibility and effectively reach their target audience.
The company operates a portfolio of 35 strategically located hoardings, providing end-to-end advertising services including media planning, location selection, campaign execution, display installation, hoarding maintenance, and campaign monitoring. Its customer base includes advertising agencies, corporate clients, government departments, public sector undertakings, educational institutions, and businesses across sectors such as real estate, automobiles, healthcare, education, retail, financial services, hospitality, and entertainment. Hoardings within Ahmedabad and Gandhinagar are operated through municipal advertisement rights, while locations outside municipal limits are managed through agreements with landowners, enabling broader regional coverage.
The company has established a strong presence in Gujarat's OOH advertising market through long-standing customer relationships, timely campaign execution, and local market expertise.
As of March 31, 2026, Aarish Outdoors employed 9 professionals across management, finance, media operations, sales & marketing, client acquisition, graphic design, and liaison functions.
Strengths
Aarish Outdoors Ltd.'s revenue increased by 173% and profit after tax (PAT) rose by 207% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 7.29 | 5.57 | 2.07 |
| Total Income | 12.00 | 4.39 | 1.16 |
| Profit After Tax | 3.02 | 0.98 | 0.27 |
| EBITDA | 4.70 | 1.88 | 0.28 |
| NET Worth | 4.10 | 1.08 | 0.10 |
| Reserves and Surplus | 4.09 | 1.07 | 0.09 |
| Total Borrowing | 0.50 | 2.48 | 1.58 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Simca Advertising Ltd. | SME | ₹58.04 Cr | ₹183 | 16.14 | ₹163.80 | -10.49% | ₹203.40 (+0.10%) |
| Value 360 Communications Ltd. | SME | ₹41.69 Cr | ₹98 | 20.74 | ₹82.30 | -16.02% | ₹80.00 (+2.89%) |
| Yaap Digital Ltd. | SME | ₹80.11 Cr | ₹145 | 18.72 | ₹133.35 | -8.03% | ₹156.00 (+1.96%) |
| Chatterbox Technologies Ltd. | SME | ₹42.86 Cr | ₹115 | 13.53 | ₹129.00 | +12.17% | ₹43.08 (-2.16%) |
| Cash Ur Drive Marketing Ltd. | SME | ₹60.79 Cr | ₹130 | 9.69 | ₹157.45 | +21.12% | ₹135.40 (-4.98%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capex for Installation of Hoardings | 6.06 |
| 2 | Funding working capital requirements of the company | 12.50 |
| 3 | General corporate purposes | |
| Total | 18.56 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 116.48% |
| ROCE | 93.96% |
| Debt/Equity | 0.12 |
| RoNW | 73.61% |
| PAT Margin | 25.19% |
| EBITDA Margin | 39.17% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.00 | 2.17 |
| Promoter Holding | 100% |
Lead Manager Reports
Aarish Outdoors IPO is a SME IPO of 47,37,600 equity shares of the face value of ₹2 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Aarish Outdoors IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aarish Outdoors IPO using UPI as a payment gateway. Zerodha customers can apply in Aarish Outdoors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aarish Outdoors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aarish Outdoors IPO dates are not announced. Please check back again after some time.
Aarish Outdoors IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Aarish Outdoors IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Aarish Outdoors IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Aarish Outdoors IPO allotment status.
The Aarish Outdoors IPO listing date is not yet announced. The tentative date of listing is .
