(MENAFN- KNN India)
New Delhi, Oct 3 (KNN) In a notable market debut on October 3, Thinking Hats Entertainment Solutions saw its shares list at a premium of over 36 percent on the NSE SME platform.
The stock opened at Rs 60, significantly above its issue price of Rs 44 per share, despite prevailing sluggish conditions in the broader market.
While the listing gains were substantial, they fell short of grey market expectations, where shares had been trading at a premium of nearly 70 percent.
The grey market, an unofficial trading ecosystem operating before the official listing, often serves as an indicator of investor sentiment.
The company's initial public offering (IPO) of Rs 15.1 crore, comprising a fresh issue of 34.29 lakh shares, garnered overwhelming investor interest.
The issue was oversubscribed by an impressive 322 times during its three-day subscription period. Non-institutional investors led the charge, subscribing 357 times their allotted quota, closely followed by retail investors at 347 times.
Qualified institutional buyers also showed strong interest, subscribing 68 times their reserved portion.
Thinking Hats Entertainment Solutions Limited, established in February 2013, has carved a niche in the entertainment industry.
The company specialises in concept development, event design, and production for a wide range of events, including live performances, corporate functions, MICE (Meetings, Incentives, Conferences, and Exhibitions), social gatherings, and virtual events.
Additionally, the firm has expanded into OTT content production and experiential marketing.
With a focus on content development, intellectual property curation, and tech-driven product innovation, Thinking Hats Entertainment Solutions has established partnerships with major OTT platforms.
The company creates exclusive content for industry leaders such as Netflix, Amazon, Sony Liv, MX Player, Disney+ Hotstar, Voot, and Zee5.
(KNN Bureau)
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