Share of the merged entity of Pressman Advertising and Signpost India, the Digital Out of Home advertising company, started trading on Wednesday and hit the upper circuit of ₹327 on NSE and ₹318 on BSE.
The listed entity Signpost India reported net profit of ₹9 crore against ₹5 crore logged in the same period last year. Income increased 86 per cent to ₹107 crore (₹57 crore). Led by Shripad Ashtekar as Chairman and Managing Director and Dipankar Chatterjee as Executive Director, Signpost India has a nationwide presence through its network of 7 offices and a team of over 500 professionals.
New era
Ashtekar said listing on the exchanges symbolises a new era for Signpost India and it is committed to create meaningful connections between brands and a rapidly evolving consumer base.
Signpost’s significant projects include Mumbai Metro (Line 2A and 7), and renewed BEST bus and bus queue shelter contracts over the past year. Its long-term advertising contracts (7-20 years) pave the way for sustainable growth. The company envisions transforming transit infrastructure and expanding into sustainable public spaces across major commercial, educational and tourist centres in India.
Last May, NCLT approved the merger of both the companies. As per the merger pact, shareholders of Pressman will get one share of Signpost for each share they hold in Pressman.