Moving Media Entertainment IPO Day 1: Check subscription status, GMP, and other details

Moving Media Entertainment IPO: The initial public offering (IPO) of Moving Media Entertainment opened for subscription today, June 26 and will close on June 30. The company, which aims to raise ₹43.40 crore through the SME IPO, has set price band in the range of ₹66-70 per share.

Moving Media Entertainment IPO Subscription

Moving Media Entertainment IPO was subscribed 0.39 times bids by 12:55 am on first day. The IPO received bids for 12.92 lakh shares against 33.92 lakh shares on offer. The retail investor segment was booked 0.66 times, while the non-institutional investors (NII) category was subscribed 0.28 times. Meanwhile, the qualified Institutional buyers category did not see any subscription till now.

Moving Media Entertainment GMP today

The company's shares in the grey market traded at ₹15. This indicates an estimated listing price of ₹85, a premium of 21.4 percent versus IPO price.

One must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

About the IPO

Moving Media Entertainment IPO was entirely a fresh issue of 62 lakh shares with no offer for sale component. Retail investors could apply with a minimum lot size of 2,000 shares, requiring a minimum investment of ₹1.40 lakh.

Moving Media Entertainment plans to utilise the net proceeds from its IPO primarily for three key purposes. The company intends to invest approximately ₹25 crore towards advanced camera solutions, which is expected to enhance its production capabilities. Additionally, around ₹9 crore will be allocated for the repayment or pre-payment of certain debt facilities. The remaining funds will be used for general corporate purposes, supporting the company’s overall growth and operational needs.

The allotment status for Moving Media IPO is expected to be finalised on July 1. Successful investors will see equity shares credited to their Demat accounts by July 2, while refunds for those who did not receive allotment will be processed the same day.

Shares of Moving Media are set to debut on NSE SME on July 3.

Gretex Corporate Services Limited acted as the book-running lead manager for the Moving Media Entertainment IPO, while Maashitla Securities Private Limited was appointed as the registrar for the issue. Gretex Share Broking Private Limited served as the market maker for the IPO.

"MMEL is engaged in renting camera and its peripheral equipment to its customers across the entertainment industry. The company posted growth in its top and bottom lines for the reported periods. However, boosted top and bottom lines for FY25 raise eyebrows and concern over sustainability in its net margins. Based on recent financial data, the IPO appears fully priced. It may witness first mover fancy post listing. Well-informed investors may park funds for medium to long term ," said Dilip Davda of Chittorgarh.com, recommending a 'may apply' rating to the issue.

About the Company

Moving Media Entertainment Limited is engaged in offering rental services for cameras and lenses, specifically catering to the needs of the media and entertainment industry. The company provides a wide selection of high-end equipment for rent, enabling film production houses and content creators to access professional-grade gear without the financial burden of full ownership. It serves as a one-stop destination for camera rental needs across film and video production segments.

Operating on a pan-India basis, the company maintains an extensive inventory that includes cameras, lenses, lighting setups, audio equipment, and production accessories such as filters, gimbals, grips, and monitors. By stocking the latest models from top-tier global brands, Moving Media ensures clients have access to cutting-edge technology suited to diverse creative requirements.

The company's clientele includes some of the most prominent names in the industry, such as Star India Pvt. Ltd., Celebframe Entertainment Pvt. Ltd., Sunshine Pictures Ltd., Colosceum Media Pvt. Ltd., and SOL Production Pvt. Ltd. Its services are widely used by production houses, advertising firms, independent filmmakers, television networks, digital content creators, and event companies, all of whom rely on its superior equipment, consistent service, and experienced technical support.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.