Thinking Hats Entertainment Solutions had a successful debut on the stock market today, October 3, listing at ₹60 per share on the NSE SME. This marks a 36.4% premium over its issue price of ₹44. The IPO was valued at ₹15.09 crore and was open for subscription from September 25 to September 27, 2024, with a price range of ₹42 to ₹44 per share.
Strong Subscription Demand
The IPO featured only new shares, with no offer for sale, and received an overwhelming response, being oversubscribed by 322 times overall. The non-institutional investor (NII) segment was particularly popular, getting oversubscribed by 356 times, while the retail portion was oversubscribed by 347 times. The qualified institutional buyer (QIB) section was booked at 67.67 times.
Use of Funds
Thinking Hats plans to use the funds raised for several purposes, including paying off certain loans, meeting working capital needs, and covering general corporate expenses.
About the Company
Founded in February 2013, Thinking Hats Entertainment Solutions focuses on developing creative concepts, designing events, and producing live shows. The company specializes in various event types, including corporate functions, MICE (Meetings, Incentives, Conferences, and Exhibitions), social and virtual events, as well as producing content for OTT platforms and experiential marketing.
Since its start, Thinking Hats has managed numerous events like corporate meetings, conferences, brand launches, lifestyle and fashion shows, exhibitions, and artist management throughout India. It serves various industries, including media, retail, finance, food, education, healthcare, and technology, and also offers retail visual merchandising and in-store solutions.
Recognizing the growing opportunities in the OTT sector, Thinking Hats began producing OTT content in 2019, leveraging the skills of its management team.
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