Ullu Digital, a Mumbai-based over-the-top (OTT) streaming platform, has submitted draft papers to the BSE SME for an initial public offering (IPO) to raise funds. The IPO, consisting solely of a fresh issue of approximately 62.6 lakh shares, aims to raise between Rs 135-150 crore.
If approved, this IPO would mark a significant milestone as the largest SME IPO in terms of size. Ullu Digital specializes in distributing, exhibiting, promoting, marketing, and delivering diverse content through its platform/app Ullu, including web series, short films, and shows.
The funds raised from the IPO will be utilized for various purposes, including production of new content, acquisition of international shows, investment in technology, and meeting working capital requirements.
Founded by Vibhu Agarwal and his wife Megha Agarwal, Ullu Digital is focused on providing a wide range of content through its digital platform. According to the company’s Draft Red Herring Prospectus (DRHP), Vibhu Agarwal holds a 61.75% stake in the company, while Megha Aggarwal owns 33.25%.
