Due to strong demand from NIIs and retail investors, Thinking Hats Entertainment Solutions Limited's initial public offering (IPO) closed with a massive subscription on Friday, September 27, the third and final day of bidding.
An overall subscription of 322.24 times was received for the NSE SME issue, which saw bids for over 104.69 crore shares versus 32.49 lakh shares on offer.
Subscription across categories
In contrast to the 8.76 lakh shares set aside for the segment, the non-institutional investors (NIIs) applied for over 31.27 crore shares, booking their quota 357 times.
In the retail segment, 347.63 times bids were made for the IPO. Compared to the 20.49 lakh shares that were up for grabs in this category, retail individual investors applied for over 71.23 crore shares.
2.19 crore shares were bid on by Qualified Institutional Buyers (QIBs) compared to the 3.24 lakh shares reserved for the category. The QIBs category saw 67.66 times bookings for the issue.
IPO size and price band
Thinking Hats Entertainment Solutions Limited's Rs 15.09-crore book-built offer comprised a single, brand-new 34.29 lakh share issuance.
A fixed price range of Rs 42 to Rs 44 per share was set for the IPO. A minimum lot size of 3000 shares was required for the application, resulting in an overall investment of Rs 1,32,000 in total.
IPO proceeds utilisation
The funds raised through the public offering will be used by Thinking Hats Entertainment Solutions to pay back the loans the business has taken out as well as to cover working capital needs. Additionally, the money raised will be utilised for regular business needs.
Book running lead manager
Horizon Financial Pvt Ltd is the book-running lead manager for the Thinking Hats Entertainment IPO, and Mas Services Limited is the issue registrar. For the SME issue, Giriraj Stock Broking is the market maker.
