Ullu, an Indian Over-The-Top (OTT) media streaming platform known for its edgy content has filed its preliminary draft papers with the Securities and Exchange Board of India (SEBI) to initiate an initial public offering (IPO).
IPO Details Funding Objectives
The IPO, as outlined in the Draft Red herring Prospectus (DRHP), involves a fresh issue of upto 62,62,800 equity shares with a face value of Rs 10 each.
There is no offer-for-sale (OFS) component in this IPO and Ullu Digital has set aside 3,15,600 equity shares with a face value of Rs 10 specifically for the market maker in the issue.
Ullu Digital has set its sights on the BSE SME platform for the listing of its shares. If approved, this move will mark a significant development in the SME IPO landscape, with the company aiming to become the largest SME IPO to date.
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