Ullu Digital has filed the draft red herring prospectus (DRHP). The company is all set to bring its Initial Public Offering (IPO). ULLU Digital IPO issue size is ₹135 crore to ₹150 crore. Ullu Digital IPO Date will be declared once the company gets approval on its DRHP. This Initial Public Offering going to make noise in the market very soon. Here we will discuss the various things about the company and what the company does. Let’s explore all the details below.

Ullu Digital IPO

ULLU Digital is a Mumbai-based company and it is an entertainment company that makes erotic content. As per the details shared by the company, there will be 62,62,800 equity shares as fresh issue. There is no offer for sale (OFS) in this IPO. The funds from this IPO will be used for company expenses and general corporate purposes.

As per the details, Ullu Digital IPO will offer 50% of the total issue reserved for Institutional Investors. Retail Investors will get a 35%reservation and the remaining 15% will be for non-institutional buyers.

Currently, as per the DRHP, 95% of holdings are owned by the founders of Ullu Digital Vibhu Agarwal and Megha Agarwal.

Narnolia Financial Services is the lead manager to the IPO while Skyline Financial Services is the registrar. The company will be listed on the SME platform of BSE.

Based on issue size, if the IPO gets approval then it will be the biggest-ever IPO in the SME category. However, there were other big IPOs in the SME with their issue size like ₹105 crore worth IPO of Spectrum Talent Management issue. The Ashka Hospitals has garnered ₹101 crore through IPO in SME and also many other companies have raised funds.

Discussing the primary work of the company, Ullu Digital is prominently known for its short films, web series, and diverse content on its platform and streaming application.

Ullu Digital has marked ₹58.33 crore in revenue from operations with a profit of 12.28 crore for the period of April-September in the current financial year (FY24). As of September of FY23, the company has 20,92,975 subscribers. On the other side, revenue from operations rose two-fold to 93.1 crore in FY23 as against 46.8 crore in FY22.

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