Another Financial First for MRSS India

Mumbai-based digital MR agency MRSS India has filed a prospectus with the Securities and Exchange Board of India (SEBI), to raise up to Rs. 100m ($US 1.5m) through Further Public Offering (FPO) of equity shares.

Already India's first and only listed MR firm, the company now becomes the first to file for an FPO on the BSE SME Platform, according to Chairman Raj Sharma (pictured). In May, the company announced it had doubled its revenue and made Rs.19m in profit (around $US 285k at today's rate).

Merchant banker Pantomath Capital Advisors (P) Ltd is leading on the issue, which is subject to requisite approvals, market conditions and other considerations.

Web site: www.mrssindia.com .