Thinking Hats Entertainment Solutions (THES) stands out as India's leading Entertainment and Experiential Marketing Company, focusing on Content Development, Intellectual Property Curation, and Tech Centric Product Development. The company's offerings span various sectors, including Film Production, Event Curation & Management, Content Creation for Streaming Platforms, and Retail Visual Merchandising.

The Thinking Hats Entertainment Solutions IPO is a Book Built Issue amounting to ₹15.08 Crores, consisting entirely of a Fresh Issue of 34.29 Lakh Shares. The subscription period opens on September 25, 2024, and concludes on September 27, 2024. Allotment is expected to be finalized around September 30, 2024, with shares anticipated to list on the NSE SME by October 3, 2024.

The share price band for this IPO is set between ₹42 to ₹44 per equity share, requiring a minimum lot size of 3,000 shares. This translates to a minimum investment of ₹1,32,000 for retail investors and ₹2,64,000 for High-Net-Worth Individuals (HNIs), who must invest in 2 lots (6,000 shares).

The book-running lead manager for the issue is HORIZON MANAGEMENT PRIVATE LIMITED, with MAS SERVICES LIMITED as the registrar and Giriraj Stock Broking Private Limited acting as the market maker.

Grey Market Premium (GMP):

The Grey Market Premium for the Thinking Hats Entertainment Solutions IPO is expected to range between ₹20 to ₹26, based on the company's financial performance. It is important to understand that real trading based on Grey Market Premium does not occur, making actual price discovery possible only upon the shares listing on the stock exchange. The GMP is influenced by supply and demand dynamics in the unregulated market and is provided for educational purposes.

Live Subscription Status:

As of 04:33 PM on September 27, 2024, the live subscription status indicates that the Thinking Hats Entertainment Solutions IPO has been subscribed 301.44 times on its final day. For real-time updates, investors can check the NSE.

How to Check Allotment Status:

The allotment date for the Thinking Hats Entertainment IPO is set for September 30, 2024. Investors can check their allotment status online by following these steps:

Navigate to the IPO allotment status page.

Select Thinking Hats Entertainment Solutions Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Objectives of Thinking Hats Entertainment IPO:

The proceeds from the fresh issue will be allocated to the following objectives:

₹200.00 Lakhs for the prepayment or repayment of certain loans availed by the company.

₹840.00 Lakhs for funding working capital requirements.

General corporate purposes.

Financial Performance:

In terms of financials, the revenue for Thinking Hats Entertainment Solutions over the past three fiscal years is as follows:

Fiscal 2024: ₹2,670.12 Lakhs

Fiscal 2023: ₹2,227.80 Lakhs

Fiscal 2022: ₹11,245.20 Lakhs

The EBITDA figures for these years were:

Fiscal 2024: ₹499.58 Lakhs

Fiscal 2023: ₹299.93 Lakhs

Fiscal 2022: ₹54.04 Lakhs

The Profit After Tax stood at:

Fiscal 2024: ₹309.16 Lakhs

Fiscal 2023: ₹200.79 Lakhs

Fiscal 2022: ₹37.21 Lakhs

For the IPO, the company is issuing shares with a pre-issue EPS of ₹3.57 and a post-issue EPS of ₹2.47. The pre-issue P/E ratio is 12.32x, while the post-issue P/E ratio is 17.81x, compared to the industry P/E ratio of 16.00x. The company has achieved a ROCE of 29.37% and ROE of 28.11% for FY24, indicating that the IPO is fairly priced.

Expert Recommendation:

With the Grey Market Premium (GMP) suggesting potential gains of 54% - 60%, and considering the company’s strong financial performance and favorable valuation metrics, experts recommend that investors apply for the Thinking Hats Entertainment Solutions Limited IPO for potential listing gains and as a viable long-term investment.

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