OTT platform Ullu Digital files DRHP with SEBI to raise funds via IPO; to list on BSE SME

livemint.com:

₹10 each, according to the company's Draft Red Herring Prospectus (DRHP). The IPO does not have any offer-for-sale (OFS) component. Ullu Digital has reserved a portion of 3,15,600 equity shares of face value of Rs.

10 each for the market maker in the issue. The Mumbai-based OTT platform plans to deploy the net proceeds of the IPO for the production of new content, purchase of international shows, purchase of state-of-the-art equipment and hiring of staff, working capital requirement and other general corporate purposes. The company's shares are proposed to be listed on the BSE SME platform.

Also Read: Ratan Tata, Nikhil Kamath-backed BlueStone Jewellery plans ₹2,000 crore IPO: Report The SME IPO will reserve not less than 35 per cent of the shares in the issue for retail individual investors, not less than 15 per cent to non-institutional investors, and not more than 50 per cent to qualified institutional buyers, five per cent of which shall be allocated to mutual funds. Narnolia Financial Services Ltd is the book-running lead managers and Skyline Financial Services Ltd is the registrar of the public issue. The company is yet to fix the price band for the issue.

‘’The higher end of the price band, above which the offer price and anchor investor offer price will not be finalised and above which no bids will be accepted. The cap price shall be atleast 105 per cent of the floor price,'' said Ullu Digital in the DRHP. As per the DRHP, Vibhu Agarwal, founder of Ullu Digital, commands 61.75 per cent shares while Megha Aggarwal owns 33.25 per cent of the company.