IPO First for MRSS India

In Mumbai, full service provider MRSS India is to become the first MR agency to be listed on the Bombay Stock Exchange, with an IPO opening tomorrow.

The offering will total Rs.1, 42, 80,000 (£143,000) with an issue price of Rs 12.75 each, and will close on Thursday 2nd July, and the firm says proceeds will be used to buy new technology and provide working capital.

MRSS India was founded in 2012 as a partnership between pan-Asian research firm Majestic MRSS and former Nielsen India MD Sarang Panchal, and has bases in Mumbai, Delhi and Bangalore.

MD Panchal (pictured) says the listing 'will give all the stakeholders an opportunity to co-own a market research company that will provide greater transparency, better collaboration avenues and access to richer talent'. Chairman Raj Sharma says the time is ripe for the company to enter the capital markets, adding 'MRSS INDIA is hoping to pioneer what the Indian software giants did in the 90s'.

Earlier this month, the company appointed former P&G sensory scientist Swati Sawant as Vice President. In April, it joined 5 other independent digital research specialists worldwide in establishing an international association called The Digital Insight Network.

Web site: www.mrssindia.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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