The initial public offering (IPO) of Thinking Hats Entertainment Solutions Ltd. opened for subscription on September 25. The NSE SME offering is an entirely fresh issue of 34.29 lakh shares aimed at raising Rs 15.09 crore.
If you are interested in investing in the Thinking Hats Entertainment Solutions IPO, here are key details you must know.
Thinking Hats Entertainment Solutions IPO Details
The subscription window for Thinking Hats Entertainment Solutions IPO will close on September 27.
The company has fixed the IPO price band in the range of Rs 42 to Rs 44 per share. Retail investors can participate in the IPO with a minimum lot size of 3,000 shares, totalling an investment of Rs 132,000.
Mas Services Limited has been appointed as the registrar for Thinking Hats Entertainment Solutions IPO whereas Horizon Financial Pvt. is the book-running lead manager for the issue. Horizon Financial Pvt Ltd. The market maker for the NSE SME issue is Giriraj Stock Broking.
The subscription will be followed by the allotment of shares on September 30. The company will initiate refunds for the non-allottees along with the credit of shares into the Demat account of successful bidders on October 1. Thinking Hats Entertainment Solutions shares will list on the NSE SME platform, Emerge, tentatively on October 3.
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Thinking Hats Entertainment Solutions IPO Day 1 Subscription Status
The IPO has been subscribed 17.03 times as of 5:44 p.m. on Wednesday
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Qualified institutions: 10.03 times
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Non institutional buyers: 7.78 times
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Retail investors: 22.09 times
The subscription status will be updated at regular intervals
Thinking Hats IPO GMP Today
The grey market premium (GMP) of Thinking Hats Entertainment Solutions IPO was Rs 30 as of 2:32 p.m. on September 25, implying a 68.18% gain over the upper price band, according to Investorgain. The estimated listing price based on the GMP is Rs 74 per share.
However, investors must note that GMP is highly speculative and may not always be a true indicator of how the stock performs.
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Thinking Hats Entertainment Solutions Ltd. Business & Financials
Incorporated in 2013, Thinking Hats Entertainment Solutions is a concept development, event design and production company specialising in live events, corporate, MICE (Meetings, Incentives, Conferences and Exhibitions), social and virtual events. The company is also engaged in OTT content production and experiential marketing.
The company entered the OTT content production space in 2019. It also makes short films for YouTube and corporate events movies.
Use of Proceeds
Thinking Hats Entertainment Solutions plans to use the money raised via the public issue to settle its existing debts. A portion of the money raised via the issue may be used to meet the company’s working capital requirements and general corporate purpose.
Financials
Thinking Hats Entertainment Solutions’ total revenue for FY24 stood at Rs 26.7 crore, a 19.89% increase from Rs 22.27 crore in the previous fiscal. The company’s Profit after tax increased 54.5% year-on-year to Rs 3.09 crore in FY24, up from Rs 2 crore in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.