Ullu Digital, an OTT platform, files DRHP with SEBI to raise funds through IPO and list on BSE SME platform

Ullu Digital, a Mumbai-based OTT platform, has filed preliminary draft papers with India’s Securities and Exchange Board to raise funds through an initial public offering (IPO). The IPO includes a fresh issue component of up to 62,62,800 equity shares of face value ₹10 each, according to the company’s Draft Red Herring Prospectus (DRHP). The IPO does not have any offer-for-sale (OFS) component.

The OTT platform plans to utilize the net proceeds of the IPO for various purposes, including the production of new content, purchase of international shows, purchase of state-of-the-art equipment and hiring of staff, working capital requirement, and other general corporate purposes.

The company’s move to go public comes as the demand for digital streaming services continues to grow, with an increasing number of OTT platforms entering the market to cater to the rising demand for diverse and quality content.

The decision to raise funds through an IPO indicates Ullu Digital’s strategic approach to expand its operations, acquire new content, and invest in the latest technology to enhance the user experience. The IPO is expected to provide the company with the necessary financial resources to capitalize on growth opportunities and meet the evolving demands of the digital entertainment industry.

The IPO’s potential listing on the BSE SME platform indicates the company’s intention to tap into the capital markets for long-term sustainability and growth. The move is likely to attract the attention of investors looking to capitalize on the booming digital entertainment sector in India.

Overall, Ullu Digital’s filing of the preliminary draft papers for an IPO reflects the company’s ambition to strengthen its position in the competitive OTT market and capitalize on the growing demand for digital content in the country.

The IPO is set to play a significant role in Ullu Digital’s expansion plans and is expected to generate considerable interest among potential investors and industry stakeholders as the company seeks to leverage the public market to fuel its future growth.