Thinking Hats Entertainment Solutions IPO Allotment Details
The much-anticipated initial public offering (IPO) of Thinking Hats Entertainment Solutions Ltd concluded on September 27, 2023. With a remarkable subscription rate, applicants are now keenly awaiting the results of the Thinking Hats Entertainment Solutions IPO allotment, which is expected to be finalized today, September 30, 2023.
IPO Subscription Overview
The Thinking Hats Entertainment Solutions IPO was open for bidding from September 25 to September 27, during which it experienced an overwhelming response from investors. The IPO was subscribed a staggering 322.19 times overall, with retail investors contributing a substantial 347.64 times to the subscription. The Qualified Institutional Buyers (QIB) segment saw a subscription of 67.67 times, while the Non-Institutional Investors (NII) category achieved an impressive 356.81 times subscription rate.
Allotment and Refund Process
Today marks the likely date for the finalization of the Thinking Hats Entertainment Solutions IPO share allotment. Following this, eligible allottees will see the equity shares credited to their demat accounts on October 1, 2023. Any refunds for unsuccessful bidders will also be processed on the same day, ensuring a smooth transition for investors.
Listing Details
Thinking Hats Entertainment Solutions is an SME IPO, and the shares are scheduled to be listed on the NSE SME on October 3, 2023. This significant milestone not only marks the company’s entry into the public market but also provides investors with an opportunity for greater liquidity and potential growth.
How to Check IPO Allotment Status
Investors can easily check the status of their Thinking Hats Entertainment Solutions IPO allotment online. Here’s a simple guide to follow:
- Visit the IPO registrar’s website.
- Look for the “Thinking Hats Entertainment Solutions Limited Allotment Status” option.
- Select either the DP ID or PAN to search.
- Enter the required details based on the selected option.
Your Thinking Hats Entertainment Solutions IPO allotment status will then be displayed on the screen, providing clarity on your investment allocation.
Current Grey Market Premium (GMP)
As of today, shares of Thinking Hats Entertainment Solutions are reportedly trading at a strong premium in the grey market. The current Grey Market Premium (GMP) stands at ₹30 per share, indicating that shares are expected to list higher than the issue price. With the estimated IPO listing price projected to be around ₹74 per share—reflecting a premium of approximately 68.18% over the issue price of ₹44—investors are optimistic about the potential returns.
IPO Financial Details
The price band for the Thinking Hats Entertainment Solutions IPO was set between ₹42 and ₹44 per share. At the upper end of this price band, the company successfully raised ₹15.09 crore through the issuance of 34.29 lakh fresh shares. The proceeds from the IPO are intended for various purposes, including the prepayment or repayment of certain loans, funding working capital requirements, and meeting general corporate expenses.
Key Management Information
Horizon Financial Pvt Ltd served as the book-running lead manager for the Thinking Hats Entertainment Solutions IPO, ensuring a well-organized issuance process. Meanwhile, Mas Services acted as the registrar for the IPO, facilitating the allotment and refund processes effectively.
Conclusion
The Thinking Hats Entertainment Solutions IPO marks an exciting opportunity for investors looking to participate in the growing entertainment sector. With strong subscription numbers and promising GMP figures, investor confidence remains high as they await the announcement of share allotments and the subsequent listing on the NSE SME.
