Hyderabad-based digital entertainment company, Silly Monks Entertainment Limited’s (SMEL) SME IPO would be the first digital entertainment company to be listed on NSE Emerge. The IPO is fixed price offer and is offered at the price of Rs. 120 per share. The company will raise Rs. 1,512 lakh through the public offer of 12,60,000 equity shares of face value of Rs. 10/- each. The minimum lot size is 1200 shares and in multiples thereafter. The lead manager of the issue is Aryaman Financial Services Ltd, Mumbai and registrar to the issue is Bigshare Services Pvt. Ltd, Mumbai. The issue opens on January 5, 2018 and closes on January 10, 2018.
The company proposes to utilize the net proceeds from IPO to acquire audio and video content, to expand their presence pan-India and general corporate purposes.
Silly Monks Entertainment Ltd. has its focus in digital media publishing. The company publishes the digital content on various platforms such as YouTube, Facebook, Amazon, Vuclip etc. The contents published are either created by the company or acquired through outright purchase or through syndicated method. In case of content bought by the company, company owns the copy rights through an agreement with assignor and hence the publishing revenue is fully accrued to the company. When the content is through syndication, company shares the revenue with the content partner. The company is also engaged in movie/content production, celebrity’s social media management, App development, Audio content Distribution, Google Ad word and online / digital Advertising, event management, and live band performances.
Commenting on Company IPO, T. Sanjay Reddy, Founder and CMD, Silly Monks Entertainment Ltd, remarked, “We all hear about the disruptive effect of digital media in the realms of entertainment, but what we fail to appreciate is how vast the opportunities are in reaching the end customers with tailored-to-appease content. For Silly Monks, we envision a 360 degree approach to our industry deliverables, to be considered a formidable player in this space. We certainly have the numbers to prove our mettle – 972+ YouTube channels delivering 375+ million views per month wherein we have recently achieved 1 billion minutes of video watch time in the month of October 2017 alone”.
Silly Monks achieved consolidated revenue of Rs. 654 lakhs, Rs 1201 lakhs and Rs 492 lakhs in H1 2017-18, in FY2016-17 and in FY 2015-16 respectively. The company recorded a consolidated net profit of Rs. 96 lakhs, Rs. 145 lakhs and Rs 28 lakhs in H1 of FY 2017-18 in FY16-17 and in FY 2015-16 respectively. – TV News4U