Stocks

Silly Monks SME IPO opens on Jan 5

Our Bureau Hyderabad | Updated on January 08, 2018 Published on January 02, 2018

Share price set at ₹120; issue closes on January 10

Silly Monks Entertainment (SMEL), a digital entertainment company, will list its shares on the NSE Emerge. The SME IPO will open on January 5 and close on January 10.

₹15.12-cr mop-up

The IPO is a fixed price offer and comes at a price of ₹120 a share. The company will raise ₹15.12 crore through the public offer of 12.60 lakh equity shares of face value ₹10 each.

The firm is planning to utilise the proceeds to acquire audio and video content and to expand their presence across the country.

“We will be the first digital entertainment company to be listed on the NSE Emerge. The minimum lot size is 1,200 shares and in multiples thereafter,” T Sanjay Reddy, Founder & CMD, Silly Monks Entertainment, said here in a statement on Tuesday.

The firm publishes digital content on various platforms, such as YouTube, Facebook and Amazon.

The lead manager of the issue is Mumbai-based Aryaman Financial Services and the registrar to the issue is Bigshare Services.

Silly Monks clocked revenue of ₹6.54 crore in the first half of 2017-18. In 2016-17, it registered revenues of ₹12 crore and in 2015-16, ₹4.92 crore.

Published on January 02, 2018
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