Insomnia Media's IPO Filing on NSE Emerge Targets ₹200 Crore Valuation

India IPO

Updated Oct 20, 2024

Insomnia Media and Content Services Ltd, headed by producer Juhi Mehta, has filed for an IPO on the NSE Emerge platform, aiming for a ₹200 crore enterprise valuation. The company will dilute 27% of its equity through a fresh share issue to raise funds primarily for working capital.

Insomnia Media's IPO Filing on NSE Emerge Targets ₹200 Crore Valuation

Insomnia Media and Content Services Ltd, under the leadership of producer Juhi Mehta, has taken a significant step by filing for an initial public offering (IPO) on the National Stock Exchange’s (NSE) Emerge platform. The company is targeting an enterprise valuation of ₹200 crore and plans to dilute 27% of its equity through a fresh issuance of shares. The primary objective of the fundraise is to bolster the company’s working capital for its ongoing projects.

NSE Emerge is a dedicated platform designed to cater to small and medium-sized enterprises (SMEs) and startups, offering them a pathway to access capital by listing on a recognized exchange. This platform has previously been leveraged by several media companies to secure funding. For instance, Bodhi Tree Multimedia utilized NSE Emerge in 2020 to support its growth in TV and OTT content production. Similarly, media firms such as Baweja Studios and Graphisads Ltd have also listed on NSE Emerge, highlighting its increasing appeal within the media sector.

GYR Capital Advisors will act as the merchant banker for Insomnia Media’s IPO.

Insomnia Media specializes in the creation and development of intellectual property rights (IPR), providing production services, and offering music and audio services. The company has ambitious plans for the near future. In August, Mint reported that Insomnia Media intends to invest up to ₹300 crore in producing a slate of 10 films and two web series, all currently in various stages of development. These projects are anticipated to be completed and released over the next 18 months.

The company has announced collaborations with several notable directors and industry figures. These include Raaj Shandilya, known for "Dream Girl"; Suparn S. Verma, who worked on "Rana Naidu" and "The Family Man Season 2"; Remo D’Souza of "A.B.C.D." fame; Pavan Kirpalani, director of "Ragini MMS" and "Phobia"; and Jayprad Desai, known for "Kaun Pravin Tambe" and "Mukhbir." Additionally, Insomnia Media is partnering with producer Sandeep Singh and writers Hussain & Abbas Dalal and Deepak Kingrani.

With its strategic move to go public and its robust project pipeline, Insomnia Media is positioning itself for significant growth and expansion in the media and entertainment industry. The IPO on NSE Emerge marks a crucial step in the company's journey, aiming to capitalize on the growing demand for diverse and high-quality content.