Thinking Hats Entertainment Solutions IPO Day 1: Check subscription status and other key details here

Thinking Hats Entertainment Solutions IPO opened for subscription on Wednesday, September 25, 2024 and closes on September 27. The IPO has been receiving a strong demand as it got heavily oversubscribed within hours of opening.

The allotment for the IPO is expected to be finalised on Monday, September 30, 2024. Thinking Hats Entertainment Solutions IPO is an SME IPO and the equity shares of the company will list on NSE SME with a tentative listing date fixed as Thursday, October 3, 2024.

Thinking Hats Entertainment Solutions IPO subscribed 10.75 times so far on Wednesday, the first day of the bidding process. The public issue received bids for 3.51 crore equity shares as against 32.49 lakh shares on the offer, according to the data available till 2:45 pm.

The IPO has been subscribed 13.75 times in the retail category, 10.03 times in the Qualified Institutional Buyers (QIB) category, and 4.61 times in the Non-Institutional Investors (NII) category so far.

Thinking Hats Entertainment Solutions IPO opened for subscription today, September 25, 2024 and will close on Friday, September 27. The price band of the IPO is set at ₹42 to ₹44 per share. The IPO lot size is 3,000 shares and the minimum amount of investment required by retail investors is ₹132,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹264,000.

Thinking Hats Entertainment Solutions IPO plans to raise ₹15.09 crore with an entirely fresh issue of 34.29 lakh shares.

Thinking Hats Entertainment, founded in 2013, specialises in event production and OTT content creation. It has made shows for Netflix, Amazon, and Disney+Hotstar, including “Kathmandu Connection 2”. The clients include Tata Group, McDonald's, and Uber. The company is known for its skilled team, strong industry ties, and success in events and content creation.

Thinking Hats Entertainment Solutions plans to use the raised funds to repay their loans, fund the working capital requirements and use the remaining funds in general corporate purposes.

Horizon Financial Pvt Ltd is the book running lead manager of the IPO, while Mas Services is the IPO registrar for Thinking Hats Entertainment Solutions.