The Thinking Hats Entertainment Solutions IPO is a book-built issue worth Rs 15.09 crore, comprising a fresh issue of 34.29 lakh shares.
This IPO will be open for subscription from September 25, 2024, to September 27, 2024. The allotment of shares is expected to be finalized by Monday, September 30, 2024. The company is set to list on the NSE SME with a tentative listing date of Thursday, October 3, 2024.
The price band for the IPO is ₹42 to ₹44 per share. The minimum application size is 3,000 shares, requiring a retail investment of ₹132,000. For HNIs, the minimum lot size is 2 lots (6,000 shares), amounting to ₹264,000.
Below are the details of Thinking Hats Entertainment Solutions IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Thinking Hats Entertainment Solutions IPO Details
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹42 to ₹44 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 3,429,000 shares (aggregating up to ₹15.09 Cr) |
| Fresh Issue | 3,429,000 shares (aggregating up to ₹15.09 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,058,150 |
| Share holding post issue | 12,487,150 |
| Market Maker portion | 180,000 shares |
Thinking Hats Entertainment Solutions IPO Timeline
| IPO Open Date | Wednesday, September 25, 2024 |
| IPO Close Date | Friday, September 27, 2024 |
| Basis of Allotment | Monday, September 30, 2024 |
| Initiation of Refunds | Tuesday, October 1, 2024 |
| Credit of Shares to Demat | Tuesday, October 1, 2024 |
| Listing Date | Thursday, October 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2024 |
Thinking Hats Entertainment Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹132,000 |
| Retail (Max) | 1 | 3000 | ₹132,000 |
| HNI (Min) | 2 | 6,000 | ₹264,000 |
Thinking Hats Entertainment Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 1,80,000 (5.25%) |
| QIB Shares Offered | 3,24,000 (9.45%) |
| NII (HNI) Shares Offered | 8,76,000 (25.55%) |
| Retail Shares Offered | 20,49,000 (59.76%) |
| Total Shares Offered | 34,29,000 (100%) |
Thinking Hats Entertainment Solutions IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 2,403.22 | 1,456.81 | 641.14 | |||||||||||||||||||||||||||
| Revenue | 2,670.1 | 2,227.8 | 1,245.2 | |||||||||||||||||||||||||||
| Profit After Tax | 309.16 | 200.79 | 37.21 | |||||||||||||||||||||||||||
| Net Worth | 1,099.86 | 573.26 | 372.47 | |||||||||||||||||||||||||||
| Reserves and Surplus | 1,012.28 | 497.01 | 296.22 | |||||||||||||||||||||||||||
| Total Borrowing | 543.46 | 413.65 | 29.22 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
Thinking Hats Entertainment Solutions IPO Review
As a financial advisor, I’d highlight that Thinking Hats Entertainment Solutions Ltd. (THESL) is transitioning from an event management company to a diversified business focused on OTT content production and experiential marketing. The company’s IPO, set to raise Rs 15.09 crore, is priced at Rs 42-44 per share, with funds primarily allocated for working capital and debt repayment. While recent financials show growth, with FY24 profits at Rs 3.09 crore, the IPO is priced aggressively with a P/E of 17.74. The company operates in a competitive space, and potential investors should carefully evaluate its sustainability and medium-term potential before committing.