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Lowdown: Digital entertainment firm Silly Monks to IPO this month

A digital entertainment company Silly Monks Entertainment is set to open its initial public offering (IPO) for subscription and plans to raise Rs 15.12 crore through the public offer of 12.60 lakh equity shares of face value of Rs 10 each. The Hyderabad-based company will open its subscription on the SME listing platform of the National Stock Exchange- NSE Emerge- from January 5 till 10 January. Incorporated in 2013, Silly Monks is an entertainment & media startup which focuses on areas such as digital media publishing, movie/content production, celebrities social media management, app development,  audio content Distribution, Google Ad word and digital Advertising, event management, and live band performances. The publishes digital content on various platforms, such as Saavn, YouTube, Facebook, Vuclip, Amazon etc. The contents that are published on these platforms are either created by the company by its in-house production or acquired through outright purchase or through syndicated method. Here is a quick lowdown on what we could find about the company from its prospectus. Business streams The company has three subsidiaries- Monkstar Music LLP- for audio content,  Event Monks Entertainment LLP- for live events, and Dream Boat Entertainment Pte Limited (DBEPL) - main content publishing business. When the company purchases content, it owns the copyrights of the content through an agreement with assignor and hence the publishing revenue is fully accrued to the company. However, when the content is through syndication, it shares the revenue with the content partner. It said in its document that it is substantially dependent…

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