Mumbai, September 28, 2023: Inspire Films Limited, a prominent player in the Indian media and entertainment industry, has seen overwhelming success with its maiden Initial Public Offering (IPO). The IPO, which aimed to raise capital for expanding its content library, garnered exceptional investor interest and oversubscribed 129 times, resulting in a total fund collection of INR 1,823 crores.
Founded in 2012 by media veteran Yash Patnaik under his banner Beyond Dreams Entertainment Private Limited, Inspire Films has a rich history of producing top-notch content that has resonated with audiences across India. With an impressive portfolio of over 6,000 hours of content, including 35 original productions, Inspire Films has firmly established itself as a leading player in the world of Indian OTT platforms and broadcasters.
The company’s commitment to creating cutting-edge content is evident in its partnerships with renowned platforms like Disney+ Hotstar, Jim Cinema, MX Player, Voot Select, and broadcasters like Star Plus, Sony Entertainment Television, Colors, Zee Tv, Sun Network, and many others. This extensive reach allows Inspire Films to connect with a diverse and vast audience, ensuring that its unique storytelling captivates viewers from all walks of life.
Under the visionary leadership of its founder and Managing Director Yash A. Patnaik and Chief Creative Director Mamta Patnaik, Inspire Films has consistently delivered high-quality series that have become household names. Some of their popular series, such as “Dear Ishq,” “Ek Veer Ki Ardaas Veera,” “Sadda Haq,” “Kuchh Rang Pyar Ke Aise Bhi,” “Ishq Main Marjawan,” “Tere Ishq Main Ghaayal,” “Rakshabandhan,” have not only garnered critical acclaim but also captured the hearts of millions of viewers.
- Advertisement -
Moreover, Inspire Films has successfully ventured into multiple regional languages, including Tamil, Malayalam, and Marathi, with series like “Chocolate” and “Vachana Dile Tu Mala,” showcasing the company’s dedication to exploring diverse storytelling.
The goodwill and reputation of Inspire Films within the entertainment industry are impeccable, reflecting their commitment to excellence and creativity. With the promise of new project announcements on the horizon, it’s clear that Inspire Films is poised for even greater achievements in the future, continuing to inspire and entertain audiences with its compelling content.
The Inspire Films IPO has garnered significant interest and strong subscription numbers, reflecting investor confidence in the company’s potential. The Inspire Films IPO saw robust demand, with a subscription rate of 129.08 times on the last day of bidding. This level of oversubscription is a strong indicator of investor enthusiasm for the company. The retail portion of the IPO witnessed exceptionally high demand, with a subscription rate of 180.41 times. The IPO was offered in a price band of ₹56 to ₹59 per share, making it accessible to a wide range of investors. Inspire Films shares are expected to be listed on the NSE SME platform with a tentative listing date of October 5, 2023.
The IPO consisted entirely of a fresh issue of 35.98 lakh equity shares. At the upper end of the price band, the company aimed to raise ₹21.23 crore from the IPO. The proposed allocation of shares in the IPO was divided with 18.9% reserved for Qualified Institutional Buyers (QIB), 33.3% for Retail Investors, and 14.29% for Non-Institutional Investors (NII). Narnolia Financial Services Ltd. served as the book-running lead manager for the Inspire Films IPO, while Maashitla Securities Pvt Ltd acted as the IPO Registrar.
The strong response to the Inspire Films IPO indicates positive market sentiment and investor confidence in the company’s business prospects. It will be interesting to see how the company performs on the stock exchange after its listing, and it may attract further attention from investors and analysts in the coming days.
- Advertisement -
Note: If you require additional information or have specific formatting requests, please feel free to let me know.