Hyderabad: Hyderabad-based Silly Monks, a digital entertainment company has listed it’s shares on the National Stock Exchange (NSE).
The company’s IPO was oversubscribed 17.23 times, which opened for subscription on January 5 and closed on January 10. The Rs 15.12 crore issue attracted all kinds of investors including the high networth individuals (HNIs).
Founded by Sanjay Reddy and Anil Pallala in September 2013, the company focuses on content aggregation, customisation and deployment of content both in audio and video format for mobile carriers, devices and music stores in India and overseas.
The IPO proceeds will be used to acquire audio and video content to expand their presence across India and for corporate expansion.
The company has been making foray into the movie distribution and production besides making music portfolio acquisitions.
Silly Monks currently owns and manages about 1,000 YouTube channels delivering over 400 million views per month. The company recently achieved one billion minutes of video watch time in the month of October 2017.
The company has been associated with blockbuster movies such as ‘Baahubali’, ‘Rudramadevi’, ‘Aagadu’ etc.