Amidst the ongoing excitement in the IPO market, a new record is now going to be created. This is the record of the largest IPO in the SME segment. OTT platform Ullu Digital has prepared for its first public offering, for which draft paper has been filed with the market regulator SEBI.
Currently the record is registered in the name of this company
According to the draft of IPO i.e. DRHP, the issue size can be Rs 135 to 150 crore. This will be the largest IPO ever in the SME segment in India. However, it has not been approved yet. Currently, the record of the largest IPO in the SME segment is in the name of Spectrum Talent Management. Spectrum Talent Management had come up with an IPO of Rs 105 crore some time ago.
Other big IPOs in the SME segment
Aashka Hospitals’ IPO is the second largest IPO in the SME segment. , whose size was Rs 101.6 crore. The five largest IPOs in the SME segment so far include Baweja Studios IPO worth Rs 97 crore, Khazanchi Jewelers IPO worth Rs 97 crore and Wise Travels India IPO worth Rs 94.7 crore.
There will be no OFS in the IPO.
In a Business Today report quoting Entrackr, it has been said that Offer for Sale is not a part of the proposed IPO of Ullu Digital. That means there will be only fresh shares in Ullu Digital’s IPO. The company plans to raise funds of Rs 135 to 150 crore through fresh equity issue. Ullu Digital’s IPO may have up to 62,62,800 equity shares.
Founders hold 95 percent shares
The company plans to use the funds raised through the IPO for new content, new Hiring of employees and purchasing of international shows. Currently, 95 percent stake in Ullu Digital is held by founders Vibhu Agarwal and Megha Agarwal. The remaining 5 percent stake is with Zenith Multi Trading DMCC.
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