Thinking Hats Entertainment IPO Day 3: NSE SME issue booked over 322 times driven by NIIs, retail investors

Thinking Hats Entertainment Solutions Limited IPO closed with a bumper subscription on the third and final day of bidding on Friday, September 27, driven by high demand from NIIs and retail investors.

The NSE SME issue received bids for over 104.69 crore shares against 32.49 lakh shares on offer leading to an overall subscription of 322.24 times.

The Non-Institutional Investors (NIIs) booked their quota 357 times with applications for over 31.27 crore shares against 8.76 lakh shares reserved for the segment. The IPO was booked 347.63 times in the retail segment. The retail individual investors applied for more than 71.23 crore shares against 20.49 lakh shares on offer for the category.

The issue was subscribed 223.15 times in the retail category as retail investors placed bids for over 45.72 crore shares against the 20.49 lakh shares set aside for the category.

The Qualified Institutional Buyers (QIBs) placed bids for 2.19 crore shares against 3.24 lakh shares set aside for the category. The issue was booked 67.66 times in the QIBs category.

Thinking Hats Entertainment IPO details

The ₹15.09-crore book-built offer of Thinking Hats Entertainment Solutions Limited consisted of entirely a fresh issue of 34.29 lakh shares.

The IPO price band was fixed at ₹42 to ₹44 per share. The minimum lot size for the application was set at 3000 shares, which aggregated to an investment of ₹1,32,000.

Thinking Hats Entertainment IPO dates

Thinking Hats Entertainment IPO opened for subscription on Wednesday, September 25 and closed on Friday, September 27. The IPO share allotment status is expected to be finalised by Monday, September 30.

Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on Tuesday, October 1, and shares will be transferred to the Demat accounts of the allottees the same day.

Shares of the company will list on the NSE SME platform, Emerge. The IPO listing date has been tentatively fixed as October 3.

Thinking Hats Entertainment IPO Registrar

Thinking Hats Entertainment IPO’s book-running lead manager is Horizon Financial Pvt Ltd and the registrar for the issue is Mas Services Limited. The market maker for the SME issue is Giriraj Stock Broking.

Thinking Hats Entertainment IPO objective

Thinking Hats Entertainment Solutions plans to use the money raised via the public issue for repayment of loans availed by the company and funding of working capital requirements. The proceeds will also be used for general corporate purposes.

About Thinking Hats Entertainment Solutions

Thinking Hats Entertainment Solutions was incorporated in February 2013. The company provides event management services for live events, MICE (Meetings, Incentives, Conferences and Exhibitions), social and virtual events. The company also offers services such as OTT content production and experiential marketing. The company employed 35 people on its payroll as of September 2024.