New Delhi, May 8 -- The initial public offer (IPO) of Simca Advertising opened for bidding today, 8 May, and witnessed a decent demand from investors. The SME IPO is available for bidding till Tuesday, 12 May.

Simca Advertising IPO is entirely a fresh issue of 0.32 crore shares worth Rs.58 crore, with no offer for sale component. This means that all proceeds will be received by the company.

The company plans to use these funds for the installation of LED screeners, funding collaboration with CWM for monetisation of 20 MED digital advertising screens, financing incremental working capital needs and for general corporate purposes.

Simca Advertising IPO price band has been set as Rs.174 to Rs.183 per share, with the lot size pegged at Rs....