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Ullu Digital files draft papers for Rs 135-150 crore IPO

As per the draft papers, the company's IPO comprises fresh issue of 62.63 Lakh shares

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Ullu Digital files draft papers for Rs 135-150 crore IPO

Ullu Digital, an over-the-top streaming platform, has filed draft papers with the BSE SME to raise fund through an initial public offering (IPO).

According to media reports, the company aims to raise between Rs 135-150 crore through the IPO, which will consist solely of a fresh issue of approximately 62.6 lakh shares.

If approved, this IPO would mark the largest SME IPO ever in terms of size.

The Mumbai-based OTT platform specialises in the distribution, exhibition, promotion, marketing, and delivery of diverse content through its platform/app Ullu. This includes a range of offerings such as web series, short films, and shows.

The platform plans to use the net proceeds raised via the IPO to meet its expenses for production of new content, purchase of international shows, tech investment, and to meet the working capital requirements.

Ullu Digital, owned by Vibhu Agarwal and his wife Megha Agarwal, is a Mumbai-based OTT platform focused on the distribution, promotion, exhibition, marketing, and delivery of various content on its digital platform and app, Ullu.

According to the company's DRHP (Draft Red Herring Prospectus), its founder Vibhu Agarwal holds a 61.75% stake in Ullu Digital, while Megha Aggarwal owns 33.25% of the company.

Info@BestMediaInfo.com

IPO OTT platform draft papers Ullu Digital files
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