Hyderabad: The initial public offer (IPO) of the Hyderabad based digital media company, Silly Monks Entertainment Ltd., was oversubscribed 17.23 times at the close of the bidding today. The Company has the distinction of being the first Digital Media Company in India to venture into IPO market.
The issue raised Rs 260.56 crore of interest against the issue size of Rs 15.12 crore. The Company proposes to utilise the net proceeds from IPO to acquire audio & video content, to expand their presence pan-India and general corporate purposes.
According to NSE data, the IPO eyeing to raise an estimated Rs 15.12 crore received bids for 21714000 shares against the against the total issue size of 12,60,000 shares through which Silly Monks Entertainment Ltd has procured Rs 260.56 Crore.
Public issue of 12,60,000 Equity Shares consisting of a Fresh issue of 9,70,000 Equity Shares and an Offer for Sale of 2,90,000 Equity Shares (including Market Maker reservation portion of 72,000 equity shares)
The company has fixed the price band at Rs 120-125 per share with a face value of Rs 10 each. Among HNI the IPO was over subscribed by 24.08 times and in Retail it was oversubscribed by 12.35 times.
The Lead Manager of the issue is Aryaman Financial Services Ltd, Mumbai and Registrar to the issue is Bigshare Services Pvt. Ltd, Mumbai.
Silly Monks achieved consolidated revenue of Rs. 654 lakhs, Rs 1201 lakhs &Rs 492 lakhs in H1 2017-18, in FY 2016-17 & in FY 2015-16 respectively. The Company recorded a consolidated net profit of Rs. 96 lakhs, Rs. 145 lakhs &Rs 28 lakhs in H1 of FY 2017-18 in FY 16-17 & In FY 2015-16 respectively
