Ullu Digital adult content streaming app platform IPO BSE highest SME INR 150 Cr Vibhu and Megha Agarwal OTT
Sex sells. Or that’s what you would think when you learn that an adult content streaming platform has filed for the biggest-ever initial public offering (IPO) in the history of SMEs. Ullu Digital, an OTT streaming company has submitted draft documents to the BSE SME in an effort to raise funds through an IPO.
The company plans to use the IPO to raise between INR 135-150 Cr! It would only involve the fresh issuance of about 62.6 lakh shares for the IPO. This could potentially be the largest SME IPO ever. According to data compiled by Chittorgarh.com, the largest IPO in the SME segment so far has been by Spectrum Talent Management, which raised Rs 105 crore in June last year.
The OTT company, Ullu Digital distributes, displays, markets, promotes, and delivers a variety of content via its platform/app, Ullu. It provides a range of web series, short films and shows targeted at an adult audience. The company is owned by Vibhu Agarwal and his wife Megha Agarwal and competes with the likes of publicly traded companies like Zee Entertainment Enterprises and Shemaroo Entertainment.
The couple collectively own 95%. Another entity, Zenith Multi Trading DMCC, has a 5% stake in Ullu. The platform operates on a subscription-based model. It offers a weekly subscription for Rs 90, a monthly subscription for Rs 198 and an annual subscription for a fee of Rs 459. As of September 2023, the company had nearly 21 lakh active, paying subscribers.
“We collaborate with various production houses or independent creators or writers who take the lead in developing the concepts, scripts, and storylines…Our company is involved in deciding the budget and reviewing and providing feedback, but on-the-ground execution of the project is solely done by the production house,” Ullu Digital said in the draft red herring prospectus.
The company has allocated set funds for set tasks to utilise from the offering:
The remaining money would go into general corporate operations. In FY23, Ullu posted a revenue from operations of Rs 93.1 crore, more than doubling its Rs 46.8 crore revenue in FY22. Its profit jumped to Rs 15.1 crore in FY23 as compared to Rs 3.9 crore in FY22.
How interesting is it to see an adult content streaming platform file for a 150 Cr IPO? Do you think they will receive it? Let’s wait and watch!
Radhika Das recently concluded a multi-city concert series in India, where he reiterated his importance…
At the hub of a milestone celebration is Neha Doodles aka Neha Sharma with Pacific…
In a major moment in the digital journalism scene in India, Saurabh Dwivedi has chosen…
Gone are the days when social media creators would watch entertainment unfold on their screens;…
After months of rumors and many years of speculation, Nupur Sanon has finally said what…
The social media creator and former Bigg Boss 10 candidate, Nitibha Kaul, has finally reignited…
Leave a Comment