Insomnia Media and Content Services Ltd, led by producer Juhi Mehta, has filed for an Initial Public Offering (IPO) on the National Stock Exchange’s (NSE) Emerge platform. The company is aiming for a valuation of ₹200 crore and plans to sell 27% of its equity through a fresh issue of shares.
The funds raised from this IPO will mainly be used to support the company’s working capital needs for its current projects.
NSE Emerge is a platform designed for small and medium-sized businesses (SMEs) and startups, allowing them to raise capital by listing on a recognized stock exchange. Several media companies have already used this platform to secure funds. For instance, Bodhi Tree Multimedia raised money in 2020 to support its TV and OTT content production. Other media firms like Baweja Studios and Graphisads Ltd have also listed on NSE Emerge, showing the platform’s growing popularity in the media sector.
GYR Capital Advisors will be managing the IPO for Insomnia Media.
What Does Insomnia Media Do?
Insomnia Media focuses on creating and developing intellectual property rights (IPR), production services, as well as music and audio services.
In August, the company announced plans to invest up to ₹300 crore in 10 films and two web series, which are all in different stages of production. These projects are expected to be completed and released within the next 18 months.
Insomnia Media has also teamed up with several well-known directors, including Raaj Shandilya (Dream Girl), Suparn S. Verma (Rana Naidu, The Family Man Season 2), Remo D’Souza (A.B.C.D.), Pavan Kirpalani (Ragini MMS, Phobia), and Jayprad Desai (Kaun Pravin Tambe, Mukhbir). They are also working with producer Sandeep Singh and writers Hussain & Abbas Dalal and Deepak Kingrani.
Content Creation and Distribution
Insomnia Media has signed deals to distribute and monetise most of these projects, with individual OTT and studio partnerships to be announced later. The company believes that good content starts with great writers and creators. They expect their upcoming films and series to help establish Insomnia Media as a major player in the content creation space.
In its music division, Insomnia Media has partnered with Believe International SARL, a global company, to produce music videos. These videos are distributed digitally on platforms like Spotify, Amazon Prime Music, and YouTube.
India’s Film Industry Bounces Back
India’s film industry saw strong growth in 2023, with 157.4 million people going to cinemas, a 29% increase from the previous year, surpassing pre-pandemic levels by 8%, according to Ormax Media. While box office revenues exceeded ₹12,000 crore for the first time, people are still visiting theatres less frequently than before the pandemic.
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