Innovatus Entertainment Networks Shares Debut On BSE SME
Innovatus Entertainment Networks successfully debuted on the stock exchange on Friday with its IPO listing. The shares of the company were listed at ₹50 each, staying true to its issue price, on the BSE SME platform.
During the subscription period, which lasted from July 25 to July 27, the Innovatus Entertainment IPO received an overwhelming response, being oversubscribed 105.21 times. The retail investors’ portion was particularly strong, oversubscribed by 150.50 times, followed by non-institutional buyers with a subscription rate of 56.58 times.
The IPO, worth ₹7.74 crore, comprised of a fresh issue of 15.48 lakh equity shares, all issued at a fixed price of ₹50 per share.
With the proceeds from the IPO, Innovatus Entertainment Networks has outlined several objectives, including fulfilling extra working capital requirements, acquiring exhibition-related merchandise, and meeting other essential business needs.
Established in 2012, Innovatus Entertainment Networks specializes in providing a wide range of direct marketing services such as management, CRM, B2B and B2C activations, and exhibitions.
The company’s portfolio of services includes Event Management, Activations, Exhibitions, Event Coordination, Pre and Post-event Publicity, Production, Printing and Distribution, Venue Research and Booking, Staffing, Guest Speakers, Celebrity Management, and more.
About Innovatus Entertainment Networks:
Innovatus Entertainment Networks, established in 2012, offers a wide range of direct marketing services, encompassing management, CRM, B2B and B2C strategies, activations, and exhibitions.
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