Adcounty Media India Limited IPO

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AdCounty Media India Limited is a performance-driven BrandTech and AdTech company, offering end-to-end digital marketing and advertising solutions to a diverse set of brands across industries such as Fintech, BFSI, E-commerce, iGaming, FMCG, and more. Founded in 2017, the company has grown into a trusted partner for both direct clients and global media agencies, delivering scalable results through a strong mix of technology, creativity, and performance analytics.

Business Model

Operating under a B2B model, AdCounty Media focuses on:

i) Performance Marketing: Working on outcome-based pricing models like CPI, CPL, CPS, CPA.

ii) AdTech Vertical: Leverages in-house tools like BidCounty and platforms such as VOOHOO Live to automate, optimize, and scale programmatic ad campaigns.

iii) Digital Marketing Vertical: Delivers SEO, PPC, social media marketing, content strategies, and retargeting campaigns using platforms like Google Ads, Facebook, and WhatsApp.

Technology & Tools

i) BidCounty: A proprietary programmatic tool offering campaign automation, real-time analytics, and audience targeting.

ii) Web & App Ecosystem:

– XploringIndia, SportsCounty, OfferCounty, WealthCounty, and RealMoney-Games provide branded content and engagement.

– VOOHOO Live: A global live-streaming app for community interaction and monetization.

Client Base & Projects

AdCounty Media directly services clients and collaborates with top media agencies like GroupM, Publicis, PartnerBoost, and GoMobile. Major clients and campaigns include:

i) Zepto: CPI campaigns for user acquisition and retention
ii) Paisabazaar & BankSathi: Email/SMS-based CPL campaigns for financial products
iii) ShareChat: User acquisition for MX TakaTak, now integrated
iv) Fi.Money: Digital marketing to enhance traffic and fintech presence
v) Freshokartz: Rural outreach strategy for agri-tech enablement
vi) MUV (WPP Group): App marketing and user acquisition in Brazil

Competitive Strengths

i) Proprietary technology and in-house tools
ii) Performance-based pricing model ensures high ROI
iii) Deep integration with partner ecosystems and agencies
iv) Strong data analytics and behavioral targeting capabilities
v) Global operations with a strong presence in India and expansion in regions like Russia and Brazil

Objects of the Adcounty Media India Limited IPO:

Company proposes to utilize the funds  towards funding the following objects: 1. To meet the Capital Expenditure requirements of the Company (₹14 cr) 2. To meet  the Working Capital requirements of the Company (₹25 cr) 3. To meet  the expenses for Unidentified Acquisition of the Company and General Corporate Purposes; and 4. To meet out the Issue Expense
DRHP of Adcounty Media India Limited IPO
RHP of Adcounty Media India Limited IPO

Adcounty Media India Limited IPO Details:

Open Date: Jun 27 2025
Close Date: Jul 01 2025
Total Shares: 59,63,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 50.69 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 80-85 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Mr. Chandan Garg (Managing Director & Promoter, Age 43), A B.Sc. in Biotechnology with a PG Diploma in IT from SCDL and certified in various IT programs, Mr. Garg has over 15 years of experience in software development and IT. He began his career at Metacube Software and later founded Innovana Thinklabs in 2015 before co-founding Adcounty Media in 2017. He has served as Director since incorporation and was redesignated MD in June 2024. 2. Mr. Aditya Jangid (Managing Director & Promoter, Age 45), An MBA in International Marketing & Finance from the University of Wales, Mr. Jangid has 21 years of experience in sales, credit, operational finance, and business development. He began his career at GE Capital in 2001 and held leadership roles across sectors before co-founding Adcounty Media in 2017. He has been Director since inception and MD since June 2024. 3. Mr. Abbhinav Rajendra Jain (Whole-Time Director, CFO & Promoter, Age 42), A B.Com graduate from the University of Rajasthan with an MBA from the University of Wales, Mr. Jain has 20 years of experience in business operations, mobile advertising, and campaign management. He started at GE Capital in 2002 and held various roles before co-founding Adcounty Media in 2017. He was appointed Director in 2018 and redesignated as Whole-Time Director & CFO in June 2024.

Financials of Adcounty Media India Limited IPO:

Particulars FY 2024-25 FY 2023-24 FY 2022-23
Revenue from Operations 68.89 42.65 53.56
EBITDA 18.25 10.8 10.4
EBITDA Margins 26.49% 25.32% 19.42%
PAT 13.75 8.28 7.63
PAT Margins 19.96% 19.41% 14.24%
ROCE 47.27% 54.36% 83.78%
Debt to Equity Ratio 0 0 0.02
Operating Cash Flows -0.23 4.54 1.44

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins D/E Ratio MCap (in cr) P/E
Adcounty Media India Private Limited 68.89 26.49% 19.96 0 191.25 13.9
Affle (India) Limited 2266 21.3% 16.85% 0.03 28,225 74
DAPS Advertising Limited 19.07 7.18% 6.24% 0.01 13.6 11.4

Lead Manager of Adcounty Media India Limited IPO:

  1. Narnolia Financial Services Ltd

Registrar of Adcounty Media India Limited IPO:

  1. Skyline Financial Services Private Ltd

Discussion on Adcounty Media India Limited IPO:

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