Mon Sep 30 20:07:59 UTC 2024: ## Thinking Hats Entertainment IPO Overwhelmed by Demand, Closes with 322 Times Subscription

**Mumbai, September 28, 2023:** Thinking Hats Entertainment Solutions Limited, an entertainment solutions provider, has successfully concluded its initial public offering (IPO), receiving an overwhelming response from both institutional and retail investors. The IPO closed on Friday, September 27, with a massive 322.24 times subscription, signifying a strong investor appetite for the company’s growth potential.

The offer, which comprised a fresh issuance of 34.29 lakh shares, saw bids for over 104.69 crore shares, exceeding the offered quantity by a significant margin. Notably, non-institutional investors (NIIs) subscribed 357 times their allocated quota, applying for over 31.27 crore shares against the allotted 8.76 lakh shares. Retail investors, on the other hand, applied for 71.23 crore shares against the 20.49 lakh shares reserved for them, translating to a 347.63 times subscription. Even the Qualified Institutional Buyers (QIBs) exhibited strong interest, subscribing 67.66 times their quota.

The IPO was priced at a fixed range of Rs 42 to Rs 44 per share, requiring a minimum investment of Rs 1,32,000 per lot of 3000 shares. Thinking Hats Entertainment intends to utilize the funds raised to repay existing loans, cater to working capital requirements, and support ongoing business operations.

Horizon Financial Pvt Ltd served as the book-running lead manager for the IPO, with Mas Services Limited acting as the issue registrar and Giriraj Stock Broking serving as the market maker for the SME issue.

The robust response to the IPO reflects the confidence investors have in the future of Thinking Hats Entertainment Solutions, a promising company in the entertainment sector. This oversubscription signifies a strong demand for the company’s offerings and its potential to contribute significantly to the entertainment landscape.

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