Inspire Films IPO to open on Monday, shares to get listed on NSE Emerge platform

Inspire Films, a television content company, will launch its share sale via initial public offering (IPO) to raise Rs 21.22 crore. The IPO will open for subscription on September 25 and end on September 27. The company is planning to sell 35.98 lakh shares of face value of Rs 10 in price band of Rs 56-59 per share.

The company has reserved 50 per cent shares for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors.

A retail investor can bid for minimum one lot of 2,000 shares and at the upper end of the price band one lot of Inspire Films shares is priced at Rs 1,18,000.

Following the IPO, the company's shares will be listed on the NSE Emerge platform on October 9, 2023.

The proceeds of the IPO will help Inspire Films to cater to the company's working capital requirements and general corporate purposes facilitating strategic growth and development and covering the expenses.

"With our IPO we will be able to expand our business further and create unforgettable content," said Inspire Films founder & managing director Yash Patnaik.

Inspire Films, since its inception in 2012, has been creating and producing content for television and OTT platforms.

Inspire Films is creating content for linear broadcast channels such as Star Plus, Zee TV, Colors TV, Sony and others, with a primary focus on the Hindi General Entertainment Channels (GEC) segment.

Besides, it is also collaborating with major over-the-top (OTT) platforms like Amazon Mini, Disney+ Hotstar, SonyLiv, MX Player, and Jio Cinema, delivering content to digital audiences. 

(With PTI inputs)