The initial price offering (IPO) of digital entertainment company Silly Monks Entertainment was subscribed 17.23 times (2,17,14,000 bids for 12,60,000 shares offered) at the end of the last (5th) day, according to data on the National Stock Exchange. The Hyderabad-based Silly Monk was looking to raise Rs 15.12 crore through the IPO, for which it offered 12.60 lakh equity shares of face value of Rs 10 each. The bids stood at Rs 260.56 crore by the end of its IPO. The bids on the last day stood at: -Total bids from Retail Investors were 73,39,200, 12.35 times than offered. -Qualified Institutional Buyers bid for 25,200 shares - Non Institutional Investors 1,43,49,600- which includes 1,24,800 from corporates, and 1,42,12,800 shares from individuals. 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 company 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. Financials Silly Monks’a clocked revenue of Rs 6.54 crore for the financial year (half year) ending September 30, 2017. The net profit for the same period stood at Rs 0.96 crore. For FY17 ending March 2017, it reported revenues of Rs 12.01 crore with…
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