Century Business Media Limited

Established in 1999, Century Business Media Limited is an Out-of-Home (OOH) media advertising service provider, offering both digital and static advertising solutions. The company operates across four primary service verticals: Airport Out-of-Home (AOOH), Railway Out-of-Home (ROOH), Metro Out-of-Home (MOOH), and City Out-of-Home (COOH). Its business model centers on securing exclusive and non-exclusive display rights through long-term concession agreements and tenders with government authorities, airport operators, railway zones, and municipal bodies, as well as leasing commercial media assets from private owners. Its core value proposition focuses on delivering turnkey advertising solutions—from media planning and creative mounting to site maintenance—across high-density transit hubs and prime commercial corridors.

The company caters to an extensive institutional client base comprising corporate enterprises, public sector undertakings (PSUs), government departments, and non-governmental organizations. Key customer verticals span BFSI, healthcare, education, FMCG, retail jewellery, oil and gas, steel, and infrastructure. In addition to direct enterprise advertisers, the company partners with national advertising agencies, media buying houses, and brand consultancies. Client retention remains solid, with the top 10 clients contributing 45.56% of total revenue from operations in FY26.

Geographically, the company's operational presence is concentrated in Eastern and North-Eastern India. For FY26, Bihar served as the primary revenue market, contributing 35.56% of total sales, followed by Jharkhand (21.19%), Delhi (15.43%), and West Bengal (9.16%). The company also executes transit campaigns across Maharashtra (4.38%), Uttar Pradesh (2.60%), Kerala (2.35%), Assam (1.80%), Tripura (1.22%), and Karnataka (1.15%) through direct concessions and media-sharing arrangements.

Regarding operational infrastructure, installed capacity and capacity utilization metrics are not applicable, as the company operates as a media and service concern rather than an industrial manufacturer. The company maintains a centralized store-cum-workshop at Sinha Library Road, Kotwali, Patna, Bihar, alongside an inventory godown in Mauja-Rajapur, Patna Sadar, where LED hardware, digital displays, and mounting structures are assembled, maintained, and inspected prior to deployment.

A major operational strength is the company's extensive transit media portfolio. As of the RHP date, Century Business Media holds exclusive advertising concessions at Darbhanga, Deoghar, Patna, Ranchi, and Jorhat airports; non-exclusive rights at Dimapur and Lilabari airports; and marketing tie-ups at Gaya, Agartala, and Silchar airports. Within the railway vertical, the company holds exclusive advertising rights outside station premises across 714 stations under the East Central Railway (ECR) zone, encompassing Danapur, Dhanbad, Pt. Deen Dayal Upadhyaya (Mughalsarai), Samastipur, and Sonpur divisions. It also manages Platform Screen Door (PSD) media rights at Howrah and Esplanade metro stations in Kolkata. Design and simulation workflows are handled using CorelDRAW and multimedia suites, supported by an operational workforce of 58 permanent employees as of July 31, 2026.

In terms of financial performance, Century Business Media Limited reported total income / net profits of ₹32.26 Cr / ₹3.67 Cr (FY24), ₹36.91 Cr / ₹4.70 Cr (FY25), and ₹46.75 Cr / ₹5.55 Cr (FY26). Over the last three fiscal years, the company demonstrated consistent growth in revenue and profitability, accompanied by an increase in total borrowings to ₹7.96 Cr in FY26 (of which ₹1.45 Cr will be repaid using Fresh Issue proceeds). The company delivered an average EPS of ₹7.69 and an average RoNW of 35.89% over the last three fiscals. Based on pre-issue book value, the issue is priced at a Pre-Issue P/BV of 2.65x against an NAV of ₹27.94 as of March 31, 2026. Factoring in the fresh issue proceeds, the Post-Issue P/BV stands at 1.85x. Attributing the earnings of FY24, FY25, and FY26 to the expanded post-issue equity base, the offer is priced at a Post-Issue P/E of approximately 17.62x, 13.78x, and 11.67x, respectively. As per the RHP, listed industry peers like Bright Outdoor Media Limited (P/E of 29.48x), Signpost India Limited (P/E of 20.55x), and Simca Advertising Limited (P/E of 12.75x) trade at an average P/E multiple of 21.12x, positioning this issue at a competitive relative valuation.

On the BRLM front, Hem Securities Limited is the Book Running Lead Manager, having managed 49 public issues to date. Of its last 10 completed IPOs, all 10 opened at par or at a premium on listing day. As of September 09, 2026, eight of those issues continue to trade above the issue price or at par, while two are trading below.

• 1 Mr. Shashi Kumar Chaudhary
• 2 Ms. Seema Chaudhary
• 3 Ms. Sangita Dokania
• 4 Ms. Shreya Chaudhary