Thinking Hats Entertainment Solutions (THES) is recognized as India’s leading Entertainment and Experiential Marketing Company. With a focus on Content Development, Intellectual Property Curation, and Tech-Centric Product Development, THES offers diverse experiences across 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 for the IPO is from September 25, 2024, to September 27, 2024. The allotment is expected to be finalized around September 30, 2024, with shares set to list on the NSE SME by October 03, 2024.

The share price band for the IPO is set at ₹42 to ₹44 per equity share, with a minimum lot size of 3,000 shares. Retail investors are required to make a minimum investment of ₹1,32,000, while High-Net-Worth Individuals (HNIs) must invest a minimum of ₹2,64,000 for 6,000 shares.

HORIZON MANAGEMENT PRIVATE LIMITED is the book-running lead manager, while MAS SERVICES LIMITED is the registrar for the issue. Giriraj Stock Broking Private Limited acts as the Market Maker for Thinking Hats Entertainment Solutions.

Live Subscription Status

As of 04:33 PM on September 27, 2024, the live subscription status for the Thinking Hats Entertainment Solutions IPO reflects an overwhelming demand, with the IPO subscribed 301.44 times on its final day.

Allotment Date and Procedure

The allotment date for the Thinking Hats Entertainment Solutions IPO is set for September 30, 2024. Investors can check their allotment status 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 the IPO

The proceeds from the Fresh Issue will be allocated for the following purposes:

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

₹840.00 Lakhs for funding the working capital of the company.

General corporate purposes.

Financial Performance Overview

Thinking Hats Entertainment Solutions has demonstrated substantial financial growth, with revenue figures for Fiscal 2024, Fiscal 2023, and Fiscal 2022 recorded at ₹2,670.12 Lakhs, ₹2,227.80 Lakhs, and ₹11,245.20 Lakhs, respectively. The EBITDA for these years was ₹499.58 Lakhs, ₹299.93 Lakhs, and ₹54.04 Lakhs, illustrating a positive upward trajectory. The Profit After Tax for these years was ₹309.16 Lakhs, ₹200.79 Lakhs, and ₹37.21 Lakhs, reflecting consistent growth.

For the Thinking Hats Entertainment Solutions IPO, the company is issuing shares at a pre-issue EPS of ₹3.57 and a post-issue EPS of ₹2.47. The pre-issue P/E ratio stands at 12.32x, while the post-issue P/E ratio is 17.81x, compared to an industry P/E of 16.00x. The company's Return on Capital Employed (ROCE) for FY24 is 29.37%, and the Return on Equity (ROE) is 28.11%, indicating that the IPO is fairly priced.

Investment Recommendation

The Grey Market Premium (GMP) for Thinking Hats Entertainment Solutions suggests potential listing gains in the range of 54% to 60%, reflecting strong investor interest. Given the company's impressive financial performance and favorable valuation metrics, we recommend that investors apply to the Thinking Hats Entertainment Solutions Limited IPO for potential listing gains or long-term investment purposes.

In conclusion, the Thinking Hats Entertainment Solutions IPO presents an exciting investment opportunity for those looking to enter the growing entertainment sector. 

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