Thinking Hats Entertainment Solutions made a healthy market debut today, October 03, as its shares were listed at ₹60 each on NSE SME, indicating a premium of 36.4% over the issue price of ₹44. The SME IPO, valued at ₹15.09 crore, was open for subscription from September 25 to September 27, 2024, with a price of between ₹42 and ₹44 apiece.
It consisted solely of a fresh issue of 34.29 lakh newly issued shares, without any offer-for-sale component. The IPO received a stellar response, with an overall subscription of 322 times. Notably, the non-institutional investor (NII) segment was oversubscribed by 356 times, while the retail portion saw an oversubscription of 347 times.
The qualified institutional buyer (QIB) portion was booked at 67.67 times.
The company plans to use the net proceeds from the issue for a few main purposes. This includes repaying all or part of certain loans, funding its working capital needs, and covering general corporate purposes.
About Thinking Hats Entertainment Solutions
Incorporated in February 2013, Thinking Hats Entertainment Solutions Limited focuses on developing concepts, designing events, and producing live events. The company specializes in corporate functions, MICE (Meetings, Incentives, Conferences, and Exhibitions), social and virtual events, as well as OTT content production and experiential marketing, with an emphasis on content development and tech-based products.
Since its inception, Thinking Hats has provided event management services for various occasions, including corporate events, meetings, conferences, brand launches, lifestyle and fashion events, exhibitions, entertainment shows, nationwide activations, and artist management in India.
The company offers its event management services across multiple industries, including media, retail, finance, food, education, healthcare, and technology. It also provides retail visual merchandising and in-store solutions for various retail stores.
Recognizing the growing opportunity in the OTT space, Thinking Hats began producing OTT content in 2019, leveraging the expertise of its management team.
Disclaimer: We advise investors to consult certified experts before making any investment decisions.
