Bright Outdoor Media moves to BSE, NSE main boards, eyes expansion in digital advertising

Bright Outdoor Media Ltd has moved its shares to the main boards of the BSE and the National Stock Exchange.

Bright Outdoor Media Ltd has moved its shares to the main boards of the BSE and the National Stock Exchange, marking a step up from the SME platform where it became India's first listed outdoor advertising company in March 2023.

The transition gives the Mumbai-based company a wider capital-market platform as it looks to expand its outdoor advertising network, increase its digital billboard portfolio and pursue opportunities in government and infrastructure-led projects, according to a company statement.

Founded in 1980, Bright Outdoor Media operates more than 1,350 hoardings across strategic locations and owns over 50 large-format digital LED billboards in Mumbai. Its business spans traditional outdoor advertising, digital displays and advertising contracts across public infrastructure and transit networks.

The company said its expansion has included opportunities linked to the Navi Mumbai Metro Line advertising tender and the Vile Parle-Kandivali railway road overbridge advertising tender with Indian Railways.

The move to the main boards follows its debut on the BSE SME platform on March 24, 2023, when it became the first company from India's out-of-home (OOH) advertising industry to enter the stock market.

Bright Outdoor Media is also seeking to broaden its offerings through its 'Bright 360' initiative, which aims to combine different advertising formats and branding services under one platform. The initiative is intended to help the company cater to advertisers seeking integrated campaigns and wider audience engagement, rather than relying solely on conventional outdoor advertising formats.

Its growth priorities include expanding its inventory of premium hoardings and digital displays, pursuing advertising opportunities across railway networks and public infrastructure, entering new geographies and developing technology-enabled advertising solutions. The company is also exploring sustainability-linked initiatives, including solar-powered advertising infrastructure.

"Today's listing on the Main Boards of BSE and NSE marks a proud and significant moment in Bright Outdoor Media Limited's journey," Chairman and Managing Director Yogesh Lakhani said.

"When we became India's first outdoor media company to get listed on the stock exchange in 2023, it was an important step not only for Bright but also for the OOH advertising industry," he said.

The main-board listing reflects the company's progress in expanding its advertising network, securing projects and strengthening its digital presence, Lakhani said, adding that it would focus on building a larger and more diversified business.

"Looking ahead, our vision is to build a larger and more diversified outdoor advertising business, with a stronger focus on digital innovation, infrastructure-led opportunities and integrated advertising solutions," he said.