The digital entertainment company Silly Monks, which is based in Hyderabad, offered 12.60 lakh equity shares of face value of Rs 10 each. The IPO was a fixed price offer and was offered at the price of Rs. 120 per share. It was over-subscribed by 17.23 times. The target was to raise Rs 15.12 crore and the IPO saw bids worth Rs. 260.56 crore.
Silly Monks will use the net proceeds from the IPO to acquire audio and video content, to expand their presence pan-India and general corporate purposes. It publishes the digital content on various platforms such as YouTube, Facebook, Amazon, and Vuclip.
If we look at break-wise, the shares reserved for High Networth Individuals (HNIs) was over-subscribed by 24.08 times while the ones for retail investors was oversubscribed by 12.35 times.
If we look at break-wise, the shares reserved for High Networth Individuals (HNIs) was over-subscribed by 24.08 times while the ones for retail investors was oversubscribed by 12.35 times.
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