Inspire Films Ltd, a television content company, will launch an initial public offering (IPO) to raise Rs 21.22 crore.
The IPO, which will open for subscription during September 25-27, comprises 35.98 lakh shares for Rs 59 a piece with a face value of Rs 10 each, said a statement from the company.
A total of 10.24 lakh shares will be allotted to anchor investors and 6.82 lakh shares are reserved for Qualified Institutional Buyers (QIBs). While 5.14 lakh shares are reserved for high net-worth individuals (HNIs), 11.98 lakh shares are meant for retail investors and 1.80 lakh shares for market makers.
"Following the IPO, the company's shares will be listed on the NSE Emerge platform on October 9, 2023," it added.
The proceeds of the IPO will help Inspire Films to cater to the company's working capital requirements, and general corporate purposes facilitating strategic growth and development and covering the expenses.
"With our IPO we will be able to expand our business further and create unforgettable content," said Inspire Films founder & managing director Yash Patnaik.
Inspire Films, since its inception in 2012, has been creating and producing content for television and OTT platforms.
It has worked for 35 popular television shows like 'Ek Veer Ki Ardaas Veera', 'Sadda Haq', 'Kuchh Rang Pyar Ke Aise Bhi', 'Ishq Main Marjawan' and web series like 'Dear Ishq', 'Tu Zakhm Hai' and many more, Patnaik added.
Inspire Films is creating content for linear broadcast channels such as Star Plus, Zee TV, Colors TV, Sony and others, with a primary focus on the Hindi General Entertainment Channels (GEC) segment.
Besides, it is also collaborating with major over-the-top (OTT) platforms like Amazon Mini, Disney+ Hotstar, SonyLiv, MX Player, and Jio Cinema, delivering content to digital audiences.