Insomnia Media files for IPO on NSE Emerge platform

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Subscribe to enjoy similar stories. Insomnia Media and Content Services Ltd, led by producer Juhi Mehta, has filed for an initial public offering (IPO) on the National Stock Exchange’s (NSE) Emerge platform, aiming for an enterprise valuation of ₹200 crore. The company plans to dilute 27% of its equity through a fresh issue of shares.

The funds raised will primarily be used to meet the company’s working capital for its current order book. NSE Emerge is a specialised platform designed for small and medium-sized enterprises (SMEs) and startups, providing them access to capital by allowing them to list on a recognised exchange. Several media companies have already used this platform to raise funds, including Bodhi Tree Multimedia, which raised capital in 2020 to support its growth in content production across television (TV) and OTT platforms​.

Other media players like Baweja Studios and Graphisads Ltd have also listed on NSE Emerge​, showcasing its growing popularity among media firms. GYR Capital Advisors will be the merchant banker for the IPO. Insomnia Media specialises in intellectual property rights (IPR) creation and development, production services, and music and audio services.

In August, Mint first reported the company’s plans to invest up to ₹300 crore in a slate of 10 films and two web series, all in various stages of development. The projects are expected to be completed and released over the next 18 months. Insomnia Media has announced collaborations with prominent directors such as Raaj Shandilya (Dream Girl), Suparn S.