On October 3, 2024, Thinking Hats Entertainment Solutions made an impressive entry into the market as its shares were listed at ₹60 on the NSE SME platform. This listing reflects a remarkable premium of 36.4% over the issue price of ₹44. The SME IPO, valued at ₹15.09 crore, was available for subscription from September 25 to September 27, 2024, with a price band ranging between ₹42 and ₹44 per share.
The IPO featured a fresh issuance of 34.29 lakh shares, with no offer-for-sale component included. It garnered a phenomenal response from investors, achieving an overall subscription rate of 322 times. The non-institutional investor (NII) segment was particularly impressive, being oversubscribed by an astonishing 356 times, while the retail category saw a healthy oversubscription of 347 times.
The qualified institutional buyer (QIB) portion also demonstrated strong interest, being booked at 67.67 times the offered shares, further highlighting the strong demand for Thinking Hats Entertainment Solutions.
The company intends to utilize the net proceeds from this IPO for several key purposes. These include repaying existing loans, fulfilling its working capital needs, and addressing general corporate aims. This strategic approach is designed to bolster the company’s financial position and facilitate expansion within the dynamic entertainment industry.
About Thinking Hats Entertainment Solutions
Established in February 2013, Thinking Hats Entertainment Solutions Limited has carved a niche in event management by focusing on creating innovative concepts, designing bespoke events, and producing live shows. The company specializes in various types of events, including corporate functions, MICE (Meetings, Incentives, Conferences, and Exhibitions), social gatherings, virtual events, and OTT content production. Their emphasis on content development and technology-driven solutions makes them a leader in the industry.
Since its inception, Thinking Hats has successfully managed a diverse range of events, from corporate meetings to brand launches, lifestyle and fashion showcases, exhibitions, and entertainment shows across India. Their versatility enables them to cater to various client needs, ensuring memorable experiences.
The company offers comprehensive event management services across multiple sectors, including media, retail, finance, food, education, healthcare, and technology. Additionally, they provide retail visual merchandising and tailored in-store solutions for numerous retail establishments, enhancing customer experiences and promoting brand visibility.
Recognizing the burgeoning opportunities in the Over-The-Top (OTT) streaming space, Thinking Hats initiated its OTT content production in 2019. This strategic move capitalizes on the expertise of its management team and positions the company at the forefront of the rapidly evolving digital entertainment landscape.
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