IPO in Focus: Moving Media Zooms in on Crores with a Reel-World Debut

Image Source: Finowings

India's camera rental behemoth Moving Media Entertainment has made its prospectus available to raise $5 million through an initial public offering, with the aim of expanding and focusing its lens on the booming media production sector.

IPO Snapshot

The IPO will be open from June 26 and will close on June 30 and will be priced between Rs 66–70 per share.

The deal comprises a fresh issue of 62 lakh equity shares worth Rs 43.40 crore.

There is no sale being offered, so the full amount is received by the company.

Business Focus

Moving Media provides high-end camera, lens, lighting, and sound equipment rentals for high-profile clients like Star India, Sunshine Pictures, and SOL Productions.

The company collaborates with ad agencies, event managers, OTT platforms, and filmmakers in India.

Capital Utilization

The proceeds will be used to invest in leading-edge camera solutions, retire outstanding indebtedness, and pay for general corporate needs.

The company had already mobilized Rs 9.87 crore of anchor investors before the IPO.

Market Buzz

The IPO is also seeing robust retail demand, with a grey market premium of Rs 8 indicating a likely listing pop.

NSE SME listing is on or prior to July 3.

Sources: MSN Money, Moneycontrol, GoodReturns, Chittorgarh, UNI India, Upstox