Cash Ur Drive Marketing

• Cash Ur Drive Marketing is coming out with an initial public offering (IPO) of 46,76,000 equity shares in a price band Rs 123-130 per equity share.
• The issue will open on July 31, 2025 and will close on August 4, 2025.
• The shares will be listed on SME Platform of NSE.
• The face value of the share is Rs 10 and is priced 12.30 times of its face value on the lower side and 13.00 times on the higher side.
• Book running lead manager to the issue is Narnolia Financial Services.
• Compliance Officer for the issue is Gagan Mahajan.

Profile of the company

Cash Ur Drive Marketing is an Out of Home (OOH) advertising company offering a diverse range of advertising solutions including Transit Media, Outdoor Media, Print Media and Digital Media Services, tailored to help its clients effectively reach their target audience. Initially, its focus was on advertising through commercial vehicles, such as cab advertising. As it expanded, it broadened its service offerings to include bus branding, auto hood advertising, billboard campaigns, and other outdoor media solutions. Further to capitalize on the growth of the Electric Vehicle Industry, it started doing advertisements on EV Vehicles and EV charging and battery swapping stations.

Its streamlined process ensures timely publication or placement of advertisements, enabling its clients to effectively reach their target audience. It offers end-to-end services which includes assisting clients in selecting suitable advertising channels within their budget and regional preferences, designing advertisements, managing negotiations and bookings of ad-space with chosen media agencies and also acting as intermediaries connecting clients with relevant media outlets.

Further, the company has recently expanded its services to include the setup of EV charging stations and battery swapping stations. It has successfully secured the following agreements for establishing these stations. Currently, the company is subcontracting the contracts acquired under this segment to one of its promoter group companies, i.e., Cash UR Drive Electric Vehicles, which has relevant experience in this segment. Additionally, it has entered into a revenue-sharing agreement with Cash UR Drive Electric Vehicles for the execution of these contracts and the installation of EV charging and battery swapping stations.

Proceed is being used for:

• Meeting expenses for investment in technology
• Meeting capital expenditure requirements of the company
• Working capital requirements of the company
• General corporate purposes

Industry Overview

The Indian advertising market size reached Rs 908.60 Billion in 2024. Looking forward, the research expects the market to reach Rs 2.11 trillion by 2033, exhibiting a growth rate (CAGR) of 9.37% during 2025-2033. The growing adoption of advertising to enhance brand awareness, increasing number of media and entertainment models, and rising demand for digital advertising solutions represent some of the key factors driving the market. Advertising refers to a marketing strategy that is designed to promote a product, service, or cause. It comprises various forms of advertising, such as television, print, radio, internet or online, mobile, and outdoor. It acts as an introduction to a product and can be considered an effective way to increase brand awareness among individuals. It is inexpensive, convenient, eliminates middlemen, and assists in easy tracking of consumer behavior. It benefits in attracting a wide consumer base, increasing sales volume and rate of investment (ROI) of a business, and expanding business reach. It assists in educating businesses to consumers, supporting salesmanship, and creating employment opportunities.

At present, the rising adoption of advertising by various companies to increase customer retention and attract new buyers represents one of the key factors supporting the growth of the market in India. Besides this, the growing adoption of advertising to enhance brand awareness and loyalty of a business is offering a positive market outlook in the country. Additionally, there is a rise in the need for convenient and cost-effective advertising solutions among the masses. This, coupled with the increasing demand for digital advertising due to the rapid adoption of smartphones and smart devices with the ease of internet facilities, is propelling the growth of the market in the country.

Apart from this, the rising trend of advertising through various sports events is offering lucrative growth opportunities to industry investors in India. Moreover, the increasing consumer preference towards online shopping, along with the burgeoning e-commerce industry, is positively influencing the market. In addition, various advertising agencies are rapidly investing in digital advertising in the country, which is contributing to the growth of the market. Furthermore, the rising number of media and entertainment models is strengthening the market growth in India. The marketing and advertising industry is an ever-changing landscape with its fair share of challenges. However, by embracing digital transformation, harnessing the power of data, and prioritizing authenticity, innovation, and creativity, businesses can not only survive but thrive in this dynamic environment.

Pros and strengths

Accredited with DAVP & INS: The company holds accreditation certificate with DAVP (Directorate of Advertising & Visual Publicity) and INS (Indian Newspaper Services). With these accreditations, it strives to maintain the industry standards and widest reach for its clients' messages, whether through print media or visual platforms. Having DAVP & INS accreditation generates confidence among its customers.

Comprehensive service provider and client centric approach: The company have PAN India presence, and it offers comprehensive, end-to-end services, ranging from media selection and advertisement design to managing negotiations and booking ad space. Its streamlined process ensures the timely publication or placement of advertisements, allowing its clients to effectively reach their target audience. As a client-focused company, it offers tailored solutions to meet the specific needs of its clients. With a wide array of services, it encourages its clients to achieve their business goals, which in turn helps it to generate additional business from existing clients.

Experienced and qualified management team: The company’s management team is well qualified and plays a pivotal role in the growth of its business and operations. Its Promoters Raghu Khanna, Parveen K Khanna and Bhupinder Kumar Khanna holds 15, 15 and 38 years of experience respectively and have been instrumental in driving its growth since the inception of its business. Its motivated team of management and key managerial personnel along with its internal systems and processes complement each other to enable it to deliver high levels of client satisfaction. 

Risks and concerns

Maximum revenue comes from limited customers: The company has garnered 61.34% 68.76% and 70.81% of its total revenue from top 10 customers in FY25, FY24 and FY23 respectively. As the business is currently concentrated among relatively few customers, it may experience reduction in cash flow and liquidity and its business would be negatively affected if it loses one or more of its major customers or if the amount of business from one or more of them is significantly reduced for any reason, including as a result of a dispute with or disqualification by a major customer.

Maximum revenue comes from top 4 states: The company operates its business operations from its corporate office situated in Noida, Uttar Pradesh. However, its business operations span various regions across India. The company has garnered 88.25%, 74.94% and 85.69% of its total revenue from top 4 states i.e. Delhi, Haryana, Uttar Pradesh and Maharashtra in FY25, FY24 and FY23 respectively. It cannot assure that it shall generate the same quantum of business, or any business at all, from these states, or its inability to acquire business from new geographical regions and loss of business from one or more of them may adversely affect its revenues and profitability.

Significant amount of working capital required: The company’s business operations require a significant amount of working capital. In its business, working capital is often required for its day-to-day business operations. In the event it is unable to source the required amount of working capital, it might not be able to efficiently satisfy the demand and preferences of its customers in a timely manner or at all. Even if it is able to source the required amount of funds, it cannot assure that such funds would be sufficient to meet its cost estimates and that any increase in the expenses will not affect its business.

Outlook

Cash Ur Drive Marketing specializes in outdoor advertising, focusing on vehicle wrap advertising as mobile billboards. The company provides a 360-degree marketing solution across transit media, digital wall paintings, and events, aiming for impactful branding through vehicle-based media in multiple Indian cities. It is accredited with DAVP (Directorate of Advertising & Visual Publicity) & INS (Indian Newspaper Services). On the concern side, the company is dependent on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of its major customers may adversely affect its business, financial condition, results of operations and prospects. Moreover, its top four states contribute major revenue for year ended 31st March 2025, 2024, 2023. Any loss of business from one or more of these states may adversely affect its revenues and profitability.

The company is coming out with a maiden IPO of 46,76,000 equity shares of Rs 10 each. The issue has been offered in a price band of Rs 123-130 per equity share. The aggregate size of the offer is around Rs 57.51 crore to Rs 60.79 crore based on lower and upper price band respectively. On performance front, net revenue from operations for the FY25, stood at Rs 13,932.39 lakh whereas in FY24 it stood at Rs 9,375.09 lakh representing an increase of 48.61%. Moreover, the restated profit after tax for the FY25, stood at Rs 1,767.60 lakh whereas in FY24 it stood at Rs 921.82 lakh represent an increase of 91.75%.

The company is currently offering various services in the media and advertising like Transit, print, and outdoor media. Currently, the company’s revenue from operations is derived from its media and advertising services. Recently, it has expanded its services to include the setting up of EV Charging and battery swapping stations. Thus, it aims to increase its business operations in EV charging and battery swapping stations in order to reduce its dependency on the media and advertisement segment and to build a strong Customer base in overall segments, which will lead to revenue and profitability growth in its business.