From correspondents in Maharashtra, India, 11:51 PM IST

Laqshya Media, a privately held, leading Out-of-Home (OOH) media advertising company, announced that Warburg Pincus, a premier global private equity firm, is making an investment of up to Rs. 276 crore in the company over the next 12 months.

As an industry leader, Laqshya intends to continue to invest in developing world-class media assets, focusing on the top cities and infrastructure projects such as airports, transit systems and street furniture including modern bus queue shelters and pedestrian bridges. It has actively invested in developing state-of-the-art civic infrastructure such as pedestrian bridges and public toilets in Indore, Hyderabad, Chennai and other cities; and is underwriting such investments by winning long-term contracts for placing advertising on these assets. Having built a strong business in India, Sri Lanka and the UAE, Laqshya plans to expand its footprint across the Middle East, Africa and South-East Asia.

Mr. Alok Jalan, Managing Director, Laqshya Media, said, “This investment by Warburg Pincus, a leading global private equity investor, comes at a time when the Out-of-Home advertising space is growing dramatically. We will be capitalising on the multiple growth opportunities we see for our business, and accelerate our company’s expansion plans to build our leadership position across India and overseas. We are excited to execute the next stages of our strategy in partnership with Warburg Pincus.”

Julie Johnson Staples, Head of Communications, Warburg Pincus, said, “Outdoor advertising in India is undergoing a period of rapid and transformative growth, as the industry consolidates and the quality of assets reaches global standards. We are delighted to partner with Laqshya Media, a recognized leader in this sector.”

Avendus Capital served as the sole financial advisor to Laqshya for this transaction.

Source: Press Release Distribution via India PRwire