Update (July 17): Ybrant Digital has announced that it has been listed on the Bombay Stock Exchange (BSE) today, through a BSE filing. The company will be trading with the symbol ‘YBRANTDIGI’. Suresh Reddy, Chairman and Managing Director of the company, stated that the profit after tax (PAT) of the company stood at Rs 190 crores while the combined consolidated provisional revenues stood at Rs 1320 crores for the financial year ending March 31, 2012.
At the time of writing this article, the company shares were trading at 94.95, up by 7.65% (Rs 6.75) and the company has a market cap of Rs 4522 crores and a free float (public shareholding) worth Rs 1808 crores.
Previously (June 28): Hyderabad based digital marketing company Ybrant Digital Limited is all set to get listed on the Bombay Stock Exchange (BSE), says a company release. This follows the approval of Ybrant Digital – LGS Global merger by the Andhra Pradesh government in May 2012. In a filing with the Bombay Stock Exchange, the company had said that the combined entity will be referred to as ‘Ybrant Digital Limited’, as per the scheme, effective from June 14, 2012.
In a separate filing, the company said its board of directors has taken note of the scheme of amalgamation between Ybrant Digital and LGS Global Limited as sanctioned by the Andhra Pradesh high court and has allotted 45,08,27,832 shares to Ybrant shareholders. The face value of the share has also been changed from Rs 10 to Rs 2 as per the scheme for accounting purposes which affects the shareholding of the investors.
The board has appointed Suresh Kumar Reddy M as the company’s Chairman and Managing Director, and Ramakrishna Vijay Kumar K & Venkata Subba Rao Karusala as the company’s Executive Directors. In addition, the board has also appointed new directors – Vijay Bhasker Reddy M, Raghunath A, Pulla Reddy S, and Ramesh Reddy Y.
Founded in 2000 and headquartered in India, Ybrant Digital currently has presence in 20 countries, including US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Spain, Greece and The Netherlands. It partners with publishers such as Facebook, Google, MSN, Yahoo!, and Viacom, and claims to assists over 140 Ad agencies including OMD, Carat, MediaCom, Group M, Quasar, Razorfish, Mindshare, Maxus, OmniCom and Oglivy, spread across Europe, the Americas and Asia. In February 2012, Microsoft India had appointed Ybrant media as its advertising sales house for six Indian cities including Hyderabad, Chennai, Kolkata, Ahmedabad, Pune, and Goa.